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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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Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
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- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- VISA Power Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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