Hints and tips:
...The Big Read does a great job of looking at the downsides and dangers, such as the risks of crowding, leverage, alpha decay etc, and to be fair to them, investors aren’t blind to this either....
...In lieu of the typical 2 per cent annual management fee many simply pass every single expense — whether rents, Bloomberg terminals, server costs, salaries, bonuses and even client entertainment — on to their...
...“We do have alternatives for iron ore and coal. Poland is still a big producer of coal. We can get iron ore from Australia, Brazil....
...Even Mr Hendry has felt himself sucked back in, dusting off his Bloomberg terminal and in May placing a bet on the gold price marching higher — once again a popular trade among macro hedge funds....
...Adjusted EBITDA of US$4.83bn was in-line with MSe (US$4.8bn) but higher than visible alpha consensus (US$4.6bn)....
...As part of Poland’s drive to build up alternatives, PGNiG in October paid $220m for a stake in the Tommeliten Alpha gasfield off Norway’s south coast....
...Export Terminal (Wicet) development in Queensland and engineering firms Monadelphous Engineering and Muhibbah Construction....
...in Kolmar, an owner of coal assets in eastern Russia, which it has since sold....
...“Today, it is clearly a tough, tough market,” Kevin Crutchfield, chief executive of US coal mining company Alpha Natural Resources, told investors on a May conference call....
...The big commodity traders are drawing greater attention from investors as they issue more bonds and financial instruments to help finance the acquisition of assets that range from coal mines to storage terminals...
...The price fall is also contagious, affecting prices in other energy markets like gas and coal....
...text of the preceding meeting, then we would be left with a strong presumption that the Copom (the central bank’s monetary policy committee) envisages a longer cycle than we currently anticipate (with a terminal...
...Consol is retaining seven mines and a coal export terminal in Baltimore....
...He now believes the region’s three coal terminals might ship about 47m short tons this year, when in June they were on course for more than 52m....
...Alpha Natural Resources led the gains in the energy sector, rallying 7.7 per cent to $7.45, while Cabot Oil & Gas added 5.7 per cent to $44.51....
...Nor are crude oil, fracking sand or surging export coal volumes yet sufficient to counterbalance big fall-offs in domestic coal traffic....
...PTT owns the 5.0 MT pa Rayong re-gasification terminal on Thailand’s west coast that was commissioned late 2011 and still largely relies on spot LNG supplies....
...China is planning to start up three LNG import terminals this year as tighter environmental standards contribute to a shift from coal in power generation....
...Metallurgical coal shipments from US ports were up 7 per cent year-on-year in July, and vessel queues at US coal terminals remain high....
...Alpha Natural Resources , which exports metallurgical coal to China, rose 2.8 per cent to $21.33. Cliffs Natural Resources climbed 4 per cent to $68.82....
...Coal miners Alpha Natural Resources , down 11 per cent to $18.92, and Peabody Energy , off 8 per cent to $35.73, were particularly hard hit....
...Alpha Natural Resources , the Appalachian metallurgical coal miner, closed up 8.8 per cent to $17.44. Its rival Cliff Natural Resources also jumped 10.6 per cent to $53.41....
...Audley’s attempt to start an auction for Walter comes after a flurry of transactions in the coal sector in the past year, including Alpha’s purchase of Massey for $8.5bn....
...However, Arch has export infrastructure, including a 22 per cent stake in the DTA coal terminal in Virginia, and can use barges to carry coal down the Ohio and Mississippi rivers to the port at New Orleans...
...Investors are raising money to export America’s bounty to Europe and Asia, where gas is far dearer, while domestic utilities are shutting dozens of older coal plants....
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