Yanzhou Coal Mining Co. Ltd.

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  • Mon, Jan. 11, 2:49 PM
    • Arch Coal (ACI -50.7%) is cut in half following news it has filed Chapter 11 bankruptcy and will be delisted from the NYSE, and the miner says its discussions with customers indicate that even after tumbling domestic coal demand the past eight years, "2016 pricing will remain weaker than previously anticipated."
    • ACI's default on $3.2B of debt bring the metals and mining sector’s trailing 12-month default rate to 15% from 11% at the end of December and the default rate for the coal subsector an "unprecedented" 43%, according to Fitch Ratings.
    • Analysts say investors should expect more such bankruptcies among commodity companies this year, as a strong dollar and slowing global demand growth should keep downward pressure on commodity prices.
    • ACI's bankruptcy helps drag down other mining names today: BTU -19%, CNX -10.8%, YZC -2.3%, NRP -7.2%, CLD -11.4%, WLB -5.1%, ARLP +0.1%, KOL -2.6%.
    | Mon, Jan. 11, 2:49 PM | 20 Comments
  • Apr. 14, 2015, 12:45 PM
    | Apr. 14, 2015, 12:45 PM | 2 Comments
  • Apr. 8, 2015, 12:46 PM
    | Apr. 8, 2015, 12:46 PM
  • Jan. 13, 2015, 7:14 PM
    • The Obama administration reportedly plans to require the oil and gas industry to cut methane emissions by as much as 45% over the next decade, with the EPA expected to issue proposed regulations this summer and final regulations by 2016.
    • The proposal would be a victory for environmental groups that have lobbied the administration to force the oil and gas industry to cut emissions of methane, a powerful greenhouse gas tied to climate change.
    • Potentially related tickers include KOL, BTU, WLT, CNX, ACI, ANR, YZC, ARLP, AHGP, NRP, PVG, PVA, OXF, CLD, WLB.
    | Jan. 13, 2015, 7:14 PM | 62 Comments
  • Nov. 21, 2014, 6:45 PM
    | Nov. 21, 2014, 6:45 PM | 46 Comments
  • Nov. 21, 2014, 10:28 AM
    | Nov. 21, 2014, 10:28 AM | 37 Comments
  • Oct. 15, 2014, 3:34 PM
    • Peabody Energy (BTU +1.2%) has held up a bit better than most other coal stocks lately, but that does not stop Imperial Capital from assigning an Underperform rating and $5 price target to the stock.
    • While BTU enjoys a stellar reputation and strong management team, the firm sees its shares and senior notes remaining under pressure from rising leverage and instability in global coal markets.
    • Like more distressed coal producers, BTU's troubles stem from the debt-financed acquisition of coking coal assets in 2011 when it issued $4B of debt to purchase Macarthur Coal, Imperial adds.
    • Most coal names are enjoying a nice bounce today: ANR +9.3%, ACI +8.3%, WLT +8%, CNX +3.8%, CLD +0.1%, YZC -0.8%, WLB -3%.
    | Oct. 15, 2014, 3:34 PM | 7 Comments
  • Sep. 25, 2014, 3:40 PM
    • Coal stocks take a pounding as the quarterly benchmark price for metallurgical coal drops to a six-year low, according to Doyle Trading, amid a global oversupply and a slowdown in Chinese demand (KOL -2%).
    • Australian coal producers and Japanese steel mills agreed to a Q4 price of $119/metric ton, down $1 Q/Q, dashing hopes for a rebound in the steelmaking coal which has slumped 64% since reaching $330 in 2011.
    • CLF -9.2%, WLB -6.6%, ANR -4.9%, ARLP -3.7%, WLT -3.5%, BTU -3%, ACI -2.9%, CLD -2%, YZC -1.9%, CNX -1.2%.
    | Sep. 25, 2014, 3:40 PM | 21 Comments
  • Sep. 16, 2014, 10:26 AM
    • China says it will enact new laws banning the import and local sale of low-grade coal starting next year in a bid to curb its air pollution problem, with tough requirements in major coastal cities set to hit Australian miners such as BHP Billiton (BHP -0.4%), Rio Tinto (RIO -0.6%) and Glencore (OTCPK:GLCNF, OTCPK:GLNCY).
    • China accounts for ~25% of Australia's coal exports, taking 54M metric tons of thermal coal and 30M metric tons of metallurgical coal from Australia in 2013; consultant Wood Mackenzie says all the thermal coal exceeded the new ash limit, while the met coal was below the limit.
    • The most stringent requirements are for cities in the southern Pearl River Delta, the eastern Yangtze River Delta and three northern cities including Beijing, Tianjin and Hebei; the areas will be banned from burning coal that has more than 16% ash and 1% sulfur.
    • Also, YZC -0.5%, KOL -0.4%.
    | Sep. 16, 2014, 10:26 AM | 4 Comments
  • Jul. 7, 2014, 12:44 PM
    • Coal stocks suffer a beating after Deutsche Bank downgrades Peabody Energy (BTU -3.3%) to Hold from Buy with a $19 price target, down from $23, to reflect lower realized coal prices (particularly metallurgical coal) and anticipated ongoing cost pressures in foreseeable future.
    • Consol Energy (CNX -1.7%) is the firm’s only Buy-rated coal stock because of the company’s “fast-growing natural gas business and solid financial position.”
    • Although the Deutsche team says its focus is shifting to more company specific stories from an emphasis on sector performance, other coal companies are sharply lower: ACI -4.3%, ANR -4.8%, YZC -1.3%, CLD -2.4%, WLT -3.6%, RNO -1.5%, WLB -2%.
    | Jul. 7, 2014, 12:44 PM | 7 Comments
  • May 16, 2014, 5:03 AM
    • The White House is considering forcing power plants to cut carbon emissions by 25% over a 15-year period, Bloomberg reports.
    • The problem is that owners can only cut so much of a facility's emissions by increasing efficiency, so a lot of the reduction could have to come by "going outside the fence," such as by deepening the use of renewable energy, improving grid efficiency and encouraging customers to use less electricity.
    • Trying to compel operators to rely on such external measures could run afoul of what the government is allowed to do under the Clean Air Act.
    • Utilities: ED, POM, PEG, FE, NST, UTL, ETR, EXC, D, NU, PCG, DUK
    | May 16, 2014, 5:03 AM | 126 Comments
  • Apr. 24, 2014, 3:34 PM
    • Peabody Energy (BTU +2.8%) powers steadily higher, reversing early losses after CEO Gregory Boyce says during this morning's earnings call that the company is looking seriously at closing some of its met coal operations.
    • Some analysts also have come to BTU's defense: Brean Capital's Lucas Pipes wrote that investors should be relieved by the company’s ability to continue to navigate the low price environment relatively well, Simmons' analysts said BTU's downside guidance was reasonable given lower benchmark met and thermal coal prices ahead, and Cowen said it would be buyers on share price weakness.
    • Most other coal names also are up: ANR +3.9%, ACI -1.5%, YZC +0.2%, CLD +0.4%, WLT +0.9%, CNX +2.8%.
    | Apr. 24, 2014, 3:34 PM | 3 Comments
  • Apr. 15, 2014, 2:26 PM
    • The D.C. Court of Appeals upholds EPA regulations requiring power plants to limit emissions hazardous air pollutants, siding with the EPA's determination that its regulations were appropriate and necessary.
    • The 2-1 court majority rejects arguments the agency should have considered the costs of its regulations before moving forward, while the dissenting judge warns the costs of the EPA regulations would amount to more than $9B/year.
    | Apr. 15, 2014, 2:26 PM | 35 Comments
  • Apr. 8, 2014, 10:42 AM
    • Consol Energy's (CNX +3.6%) upgraded coal outlook is lifting coal names higher across the board: ANR +9.2%, WLT +7.4%, ACI +5.6%, YZC +5.2%, BTU +3.8%, WLB +3.1%, OXF +3%, CLD +2%, KOL +1.9%.
    • Stifel raises its CNX target price to $46 from $45, reflecting the strong market for northern Appalachian thermal coal, offsetting a weaker pricing and volume outlook for met coal (Briefing.com).
    | Apr. 8, 2014, 10:42 AM | 29 Comments
  • Apr. 2, 2014, 3:58 PM
    • Coal stocks are higher after the head of BHP Billiiton's (BHP +0.9%) coal division said he expects world demand for coal to increase for decades to come, and that most demand growth for coal will come from outside China, which has been the primary driver of global commodity prices in recent years.
    • The BHP exec also noted that coal demand in Europe is rising as nuclear plants are set to shut down and countries reduce their imports on Russian energy.
    • The Market Vectors Coal ETF (KOL +0.7%) has gained 3.2% over the past week and is trading above its 200-day moving average, but the ETF is still down 4.2% YTD.
    • JRCC +20.5%, OXF +4.5%, WLT +2.2%, CNX +2.1%, CLD +2%, ANR +1.9%, BTU +1.4%, YZC +0.6%, ACI -0.2%, WLB -1.2%.
    | Apr. 2, 2014, 3:58 PM | 5 Comments
  • Mar. 25, 2014, 8:04 AM
    • Yanzhou Coal (YZC) says it plans to slash ~18% of its workforce in China over the next three years and restructure the senior management of its Australia unit, as part of efforts to cut costs and slog through the weak global coal market.
    • It's the latest in a string of job cuts, asset sales and reduced spending plans by global mining companies including BHP, Glencore and Vale, in response to oversupply and slowing demand growth in China and elsewhere in Asia for coal, iron ore and other mining products.
    • China's domestic thermal coal prices have fallen more than 15% YTD to ~$87/metric ton, and prices for Australian thermal coal last week fell to ~$73, their lowest since late 2009.
    | Mar. 25, 2014, 8:04 AM
Company Description
Yanzhou Coal Mining Co Ltd is engaged in mining, washing and processing and sales of coal. The Company produces semi-hard coking coal, semisoft coking coal, PCI and thermal coal.