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Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
 Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that demand for seaborne metallurgical, or steel-making, coal in China is slowing.
Analyst Curt Woodworth said demand is slowing because Chinese domestic metallurgical coal production is increasing and China has built excess inventory of steel.
He also said Chinese steel production appears unsustainably high.
The analyst believes that steel production will likely decline moderately in China over the next several months following substantial increases in production levels experienced since April.
Woodworth noted that the fundamentals for thermal coal, used mainly by electric utilities to generate electricity, continue to worsen and said he expects producers to lower 2010 volume expectations this quarter.
Woodworth believes that the substitution of natural gas, instead of coal by electric utilities, has negatively impacted U.S. thermal coal demand by about 50 million tons.
This is significantly above the forecast displacement rates of about 20 million tons articulated by most producers earlier in 2010, the analyst said.
Woodworth expects thermal coal demand to remain depressed unless natural gas prices were to increase significantly in the short run. The analyst downgraded Massey Energy Co and Alpha Natural Resources Inc to "neutral" from "outperform" as he expects earnings to remain very weak over the next two quarters.
He also believes the market has become overly bullish on their ability to export met coal at higher prices in the second half of 2009.
Woodworth also cut Peabody Energy Corp and Patriot Coal Corp to "underperform" from "outperform," saying that these stocks are now trading near the high end of historical valuation levels.
Source:Reuters
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Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
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- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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