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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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Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
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