Improved Domestic Coal Out From China May Slow Imports
The Bedford Report Provides Investment Research on Patriot Coal and Peabody Energy
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 07/21/11 -- Emerging markets have played a critical role in coal's renaissance this year. On the downside, recent studies have surfaced showing that in spite of greater demand from emerging markets, specifically China, imports are on the downswing. The Bedford Report examines the outlook for companies in the coal industry and provides equity research on Patriot Coal Corporation (NYSE: PCX) and Peabody Energy Corporation (NYSE: BTU). Access to the full company reports can be found at:
According to a research not from Deutsche Bank, Chinese thermal coal imports will stabilize at around 100 million tonnes a year instead of rising, as previously expected, because of improvements to the country's own coal output and rail capacity. Deutsche Bank said that despite higher total demand, Chinese net imports in the first five months of this year were between 5 million and 11 million tonnes a month -- down from the year earlier.
The Bedford Report releases market research on the coal industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.
Peabody Energy says that coal is in the early stages of a "demand supercycle." Earlier this week the coal producer predicted strong results for the rest of 2011, as it undertakes what it called its biggest global expansion in its 128-year history. Peabody said its net income attributable to common shareholders was $284.8 million, or $1.05 cents per share, in the April-June period. In the recent quarter Peabody signed an agreement to develop a huge Chinese surface mine expected to produce 50 million tons of coal a year for decades.
Patriot Coal Corporation is scheduled to report quarterly earnings next week. Patriot ships to domestic and international electricity generators, industrial users and metallurgical coal customers, and controls approximately 1.9 billion tons of proven and probable coal reserves.
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Datum: 21.07.2011 - 12:16 Uhr
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News-ID 36623
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