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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, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Australian Coal Association
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
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