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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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Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
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- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Posco Energy - South Korea
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