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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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Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
Monday, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
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- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Planning Commission, India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
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