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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, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
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