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Straits Asia
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Fishcake
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17-Jul-2008 13:37
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this drop should be temporary only as coal demand is still there. In China, they foresee a shortage in the region...below is the report. July 17 (Bloomberg) -- China, the world's largest coal producer, increased production of the fuel by 11 percent in the first six months to meet increased demand from power generators. Coal production reached 1.24 billion metric tons, the China Coal Transportation and Distribution Association said in a statement in Beijing today. Sales of the fuel rose 10.7 percent to 1.2 billion tons during the period, said Wang Zhanjun, vice president of the association. China is having a coal supply shortage caused by an insufficient transportation network and after the country closed small unsafe coal mines to raise efficiency. The country has shut 2.5 percent of its coal-fired power plants due to fuel shortages, the State Grid Corp of China, the nation's largest power distributor, said July 7. ``Coal market will remain in `tight balance' and regional shortages may worsen in the second half,'' Wang said at the 2008 Asia-Pacific Coal Market Summit in Beijing today. ``China faces pressure to ensure thermal coal supplies.'' Coal stockpiles fell 2.9 percent to 145 million tons at the end of June, according to Wang. The nation's coal consumption increased 6.8 percent to 1.12 billion tons in the first five months, with the average price of the fuel jumping 19 percent to 307.66 yuan ($45) a ton, Wang said. |
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watashi_kelvin
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17-Jul-2008 12:28
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July 17 (Bloomberg) -- China's stocks fell for a third day, led by raw-materials producers, on speculation a slowing economy will curb demand and as prices of metals fell. China Shenhua Energy Co. led coal producers lower after the economy expanded at the slowest pace since 2005. Baoshan Iron & Steel Co., the country's largest steelmaker, and Jiangxi Copper Co. declined.
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aleoleo
Master |
17-Jul-2008 11:28
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What happen to this gem... morning 2.98 now 2.87.... anyone here any idea ??? coal price drop ??? | ||||
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yipyip
Master |
14-Jul-2008 22:57
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ANALYSIS-Asia coal traders a scarce commodity as prices surge Mon Jul 14, 2008 PERTH, July 14 (Reuters) - Coal may be the world's most abundant form of carbon energy, but those who can turn a profit trading it are in increasingly short supply as trading houses and investment banks jostle for a share of the expanding market... For the first time in recent memory, say industry sources, coal traders have become hot commodities in themselves, rivalling keenly-sought oil or metals dealers in a scramble for experienced personnel able to manoeuver in a volatile, opaque and often illiquid market that is finally opening.... Thanks also to the freeing up of European power and gas markets and the advent of the carbon market, banks ranging from Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) and Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) to Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz) have begun to trade physical and paper coal... And trading firms that previously focused on oil or metals, including Sempra Energy (SRE.N: Quote, Profile, Research, Stock Buzz) and Swiss-based Vitol, have recently set up coal desks in Asia, which accounts for 60 percent of world seaborne steam coal trade, and which many expect will provide the bulk of future demand growth... POACHING In Singapore, a regional hub for commodities trading, Barclays Capital BAR.L has recently hired Chris Pardey, formerly a director of commodities trading at Merrill Lynch, to head its coal and agricultural business, industry sources said.... http://www.reuters.com/article/companyNews/idUKSYD32756720080714?symbol=GS.N&pageNumber=1&virtualBrandChannel=10171 |
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Nokita
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14-Jul-2008 21:20
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 Aileen likes Straits Asia. Goldman Sachs upgraded Straits Asia to a buy & target price of $4.70, according to www.nextinsight.com.sg |
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yipyip
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13-Jul-2008 01:43
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Bloomberg Asia Pacific Coal Index 10/Jul/08 @ 1029.07 +0.857% 9/Jul/08 @ 1020.33 The Bloomberg Asia Pacific Coal Index is a capitalization-weighted index of the leading coal stocks in the Asian Pacific Region. http://www.bloomberg.com/apps/cbuilder?ticker1=BPRCOAL:IND |
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yipyip
Master |
13-Jul-2008 01:33
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July 11 (Bloomberg) -- Singapore's Straits Times Index added 25.26, or 0.9 percent, to close at 2,926.84. The benchmark gained 1.2 percent this week, trimming its 2008 loss to 16 percent.... GMG Global Ltd. (GGL SP), an owner of rubber plantations in West Africa, jumped 1.5 cents, or 6.7 percent, to 24 cents, its highest close since January 2000. GMG Global said Sinochem International (Overseas) Pte offered to buy 1 billion shares, or a 51 percent stake, in the company for 26 cents apiece... Straits Asia Resources Ltd. (SAR SP), the supplier of coal to Japan, Taiwan and South Korea, jumped 23 cents, or 8.3 percent, to S$3, halting a three-day, 9.8 percent retreat. Declines in the past three days sent the stock's 14-day relative strength index, a moving average based on how rapidly shares rose or fell, to 28 yesterday, below the 30-level that indicates to some analysts that prices are poised for a rebound. |
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nickyng
Supreme |
11-Jul-2008 12:18
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hahahahahahahaha..... :P | ||||
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limkt009
Veteran |
11-Jul-2008 12:12
Yells: "Watch your front, grab $$$$$ at your own time" |
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StraitsAsia starts to rebound.... |
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nickyng
Supreme |
10-Jul-2008 15:21
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r u vested? hee... waiting to punt on ASCENDASREIT too....but no bullet left :P
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aleoleo
Master |
10-Jul-2008 15:06
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straitsasia, straits down for 6 days already. hopefully technical rebound will occur soon... yeah~~ | ||||
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nickyng
Supreme |
10-Jul-2008 14:44
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just vested again at 2.75x 10 !! wish me luck ! :D | ||||
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nickyng
Supreme |
10-Jul-2008 06:45
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haha...juz pure lucky and abit of patience as well...anyway...unloaded yester at 2.90x10 some kopi profit ! anyway DJ drop -236 overnite..so expect some volatility on this burger again..cheers !! :D
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yipyip
Master |
10-Jul-2008 02:44
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Bloomberg Asia Pacific Coal Index 9/Jul/08 @ 1028.34 +2.21% 8/Jul/08 @ 1006.07 +1.32% 7/Jul/08 @ 992.95 +1.65% 4/Jul/08 @ 976.81 -3.28% 3/Jul/08 @ 1010.04 The Bloomberg Asia Pacific Coal Index is a capitalization-weighted index of the leading coal stocks in the Asian Pacific Region. The index was developed with a base value of 100 as of December 31, 1998. The parent index is BWORLDPR. http://www.bloomberg.com/apps/cbuilder?ticker1=BPRCOAL:IND |
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EastonBay
Master |
09-Jul-2008 17:57
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u are really good at catching.. u got it at day low.. 2.83! good luck..
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nickyng
Supreme |
09-Jul-2008 15:53
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wow..this burger up and down like yo-yo fun siah....anyway newly vested at 2.83 x 10lots !! wish me luck!! :D |
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yipyip
Master |
08-Jul-2008 02:08
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Singapore Hot Stocks-Straits Asia Resources up on broker upgrade Mon Jul 7, 2008 3:30am EDT SINGAPORE, July 7 (Reuters) - Straits Asia Resources (STRL.SI: Quote, Profile, Research, Stock Buzz) rose as much as 3.9 percent after Goldman Sachs upgraded the stock to "buy" from "neutral" with a target price of S$4.70. Straits Asia Resources climbed to a high of S$3.08 with almost 5 million shares changing hands. Goldman Sachs analyst Yoke Fong Chee said the stock in a recent selloff has fallen to an attractive level and offers high earnings growth potential. "Straits Asia Resources's high growth profile and inexpensive valuations also underpin our turn to a more bullish view on the stock," Yoke said in a research note. Goldman Sachs expects the company to get higher coal prices for 2009, and resource upgrades at the Jembayan coal mines, to drive share price outperformance. |
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sfw2124
Member |
07-Jul-2008 22:33
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This piece of latest news confirms the bullish outlook for coal price in the near term.
SAR have not mentioned any plans or update on their other coal mines in Brunei and Madagascar yet.
Has anyone got any hint or news about these coal mines and their production plan or status?
GT
COAL NEWS: LATEST HEADLINES
07 July 2008 03:07 PM London Time
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yipyip
Master |
07-Jul-2008 14:03
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Australia's Newcastle Coal Price Climbs to Record (Update1) By Jesse Riseborough July 7 (Bloomberg) -- Thermal coal prices at Australia's Newcastle port, a benchmark for Asia, rose 13 percent to a record for a sixth week amid reduced supplies of the fuel. The weekly index for power-station coal prices at the port in New South Wales state gained $22.69 to $194.79 a metric ton in the week ended July 4, according to the globalCOAL NEWC Index. The price has doubled since the start of the year. Australian producers, the world's largest exporters of the fuel, are switching output to semi-soft coal from thermal coal to take advantage of higher prices, reducing supply of power station coal, Mark Pervan, a senior commodity strategist with Australia and New Zealand Banking Group Ltd. in Melbourne, said today by phone. ``That is tightening the thermal coal market; you are basically taking thermal coal supplies out of the market,'' Pervan said. ``That is an additional squeeze on the market so it is no surprise we are seeing these higher prices.'' The weekly globalCOAL index is up 46 percent since the start of May. The monthly index gained 18 percent to $163.68 a ton in June, from $138.31 the previous month. http://www.bloomberg.com/apps/news?pid=20601081&sid=aRcgAZrZVGcI&refer=australia |
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samloh28
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06-Jul-2008 12:13
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SINGAPORE, Jul 04, 2008 (Thomson Financial via COMTEX) -- SSGDF | Quote | Chart | News | PowerRating -- Singapore-listed Straits Asia Resources, which has coal mines in Indonesia, rebounded on Friday after OCBC Investment Research said strong demand will continue to support strong coal prices in the long term despite the sudden and sharp decline on Wednesday.
At 10:08 a.m. (0208 GMT), Straits Asia had gained 4.0 percent to S$3.11, with 3.64 million shares traded. OCBC has a "buy" rating on the company, with fair value set at S$4.80. Panic-driven profit-taking dragged down the European coal swaps and physical markets on July 2 after the recent strong run-up in coal prices, which shot past $200 metric per ton, OCBC said. Straits Asia plunged 14.3 percent on Thursday on the news. "The sudden drop in coal prices appeared to be a result of panic selling rather than from fundamentally-driven reasons," said Lee Wen Ching and Ritesh Menon in a note to clients. Demand from Asia, led by China and India, remains strong. "Looking at the longer-term global energy demands, world coal consumption is projected to grow 74 percent from 2004 to 2030," they said, citing data from the Energy Information Administration (EIA). The EIA also projects coal to account for 28 percent of total world energy consumption by 2030 from 26 percent in 2004. ($1 = S$1.36) pearl.bantillo@thomsonreuters.com MMMM |
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