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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
 Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, are too optimistic, analysts say The forecasts underpin the government's expectation of $10.5 billion in revenue from the proposed Mineral Resources Rent Tax over the first two years of its implementation from 2012/13.
Gavin Wendt, senior resources analyst for research firm Mine Life Pty Ltd, said the outlook for thermal coal prices was positive but there was a potential for iron ore prices to fall.
Mr Wendt said government forecasts of decades of iron ore and coal sector growth were "wildly optimistic".
"That's the problem with the tax."
While demand continued to grow for thermal coal, which is used in power generation and is in short supply, the coking coal price was tied to the iron ore price due to its role in steelmaking.
Mr Wendt said demand for iron ore was still very strong but supply was starting to catch up as existing mines expanded and new mines opened to take advantage of several years of high prices.
"I'm still very bullish on demand for iron ore ... which will remain strong because steel production will remain strong," he said.
"But there's no shortage of iron ore.
"It's just a matter of how quickly operations get developed.
"Pricing is probably close to its peak, which means we're slowly starting to see the price tail off.
"The bottom is not going to fall out of the iron ore market but the government is being optimistic when it suits them."
Research and consulting firm Wood Mackenzie says the government won't get any additional revenue from coal if prices fall to levels seen just a few years ago.
The government is expected to fund a one per cent reduction in the corporate tax rate with revenue from the new mining tax, reported by
If coal prices remain strong, coal miners will pay an additional $7.4 billion, or eight per cent in government take over the first five years of the tax, Wood Mackenzie head of coal supply research Gero Farruggio said.
Mr Farruggio said coal miners were already battling strong cost inflation and falling productivity.
"Traditionally Australia is viewed as a low-cost exporter, but in our 2010 global thermal coal export cash cost (of production) rankings it is well down the table in sixth place," he said.
"Indonesia dominates the ranking tables with the largest thermal coal production and lowest average cash cost.
"In contrast to Australia, it (Indonesia) has moved to reduce the level of government take from coal production."
Source: Nine Msn / Hellenic Shipping
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
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