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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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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
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