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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
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