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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
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
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- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
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