6
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World Coal
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August 2015
DIARY
DATES
AIMEX 2015
1
–
4 September 2015
Sydney, Australia
Coaltrans Japan
3
–
4 September 2015
Tokyo, Japan
Coaltrans Coal Trading and Risk Management
15
–
17 September 2015
Singapore
The Bluefield Coal Show
16
–
18 September 2015
Bluefield, West Virginia, US
Coal Association of Canada Conference
16
–
18 September 2015
Vancouver, Canada
The Australian Mine Ventilation Congress
30 September
–
2 October 2015
Sydney, Australia
Asian ABC Users’ Group
13
–
15 October 2015
Bangkok, Thailand
The World Coal Leaders Network
18
–
20 October 2015
Barcelona, Spain
China Coal & Mining Expo
29 October
–
1 November 2015
Beijing, China
COAL-GEN
8
–
10 December 2015
Las Vegas, USA
SME Annual Meeting and Expo
21
–
24 February 2016
Phoenix, USA
ACPS Annual Conference
13
–
17 March 2016
Wollongong, Australia
Coal News
Coal News
C
aterpillar’s Resource Industries
Group broke even in 2Q15 – down
from a profit of US$114 million last year
– on the back of lower sales volumes, the
company said in its quarterly earnings
report.
Sales were US$1.991 billion over the
quarter, down US$250 million or 11% on the
same period in 2014, due to lower demand
for both new equipment and aftermarket
parts and unfavourable dollar exchange
rates – particularly with the euro.
“Commodity prices remained weak and
mining customers continued to focus on
improving productivity in existing mines
and reducing their total capital
expenditures, as they have for the last
several quarters,” the company continued.
“As a result, sales and new orders in
Resource Industries continued to be weak.”
Overall, the company announced
quarterly profit of US$710 million – down
from US$999 million last year – on sales and
revenues of US$12.3 billion. The company
also warned that sales and revenues for the
year would be about US$49 billion – a
billion dollars less than previously
announced.
“We originally set the US$50 billion sales
and revenues estimate in January and our
expectations haven’t changed much since
then. However, currency impacts from a
stronger US dollar are causing sales in many
countries to translate into fewer dollars than
we initially expected,” said Caterpillar’s
CEO, Doug Oberhelman.
“Many of the key industries we serve
remain weak and we haven’t seen sustained
signs of improvement,” concluded
Oberhelman. “Prices for commodities like
coal, iron ore and oil are not signalling an
improvement in the short term. We are
committed to controlling costs as we
manage through this downturn and that
will position Caterpillar for better results
when conditions improve.”
L
eading Chinese coal mining
company, China Shenhua Energy
Company Co. Ltd (Shenhua), saw a
substantial drop in coal sales in 1H15,
the company said in a regulatory
announcement to the Hong Kong Stock
Exhange. Sales were down by almost a
quarter (24.2%) on the same period in 2014
at 177.8 million t; in 1H14, the company
sold 234.6 million t.
Coal production also dropped from
155 million t in 1H14 to 139.4 million t in the
six months to June this year – a reduction of
just over 10%.
The company blamed the fall in sales on
lower demand from downstream sectors, as
well as “heightened pressure for
environmental protection”.
INTERNATIONAL
Caterpillar mining business breaks even
CHINA
Shenhua coal sales
down almost a quarter
U
S metallurgical coal producer,
SunCoke Energy Partners, is
to buy Convent Marine Terminal in
Louisiana, for US$412 million from
Raven Energy Holdings, an affiliate of
The Cline Group.
“This acquisition will represent a
compelling strategic fit by adding a
preeminent export asset to our coal logistics
business,” said Fritz Henderson, Chairman
and CEO of SunCoke.
Convent Marine Terminal is one of the
largest coal export terminals on the US Gulf
Coast with direct rail access to Illinois Coal
Basin producers and current capability to
transload 10 million short tpa of coal.
Current investment work will take that
capacity to 15 million short t.
US
SunCoke buys
Convent Marine Terminal
