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Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
 ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian Competition and Consumer Commission chairman Graeme Samuel says the agreement forged between the New South Wales Government, the port operator and coal producers, including BHP Billiton, gives certainty to the industry.
He says it is possible the deal will cut shipping queues at the port.
"It is looking like we will approve the reinstatement of the interim authorisations that were there to try and manage the queues at the port and to enable the parties to proceed towards putting in place the long-term ship or pay contracts that are an integral part of this long-term solution," Mr Samuel said.
He says approving the new agreement will add certainty to encourage investment in increasing the port's capacity.
"It will provide for increased capacity and thus the ability for ships to, rather than sit in a queue, to come through to the ports, take the coal that's coming from the Hunter Valley coal mines and then move it into export," he commented.
"That's what's been needed for some time now. But of course no investor was ever going to invest in expanded capacity until they had at least some assurance that their investment would earn a reasonable return; that is, would be paid for either by ships using it, or else by parties saying we'll pay for it if we don't have the necessary requirements to use the capacity.
"They will sign long-term what are called "ship or pay" contracts; that's contracts to either have ships use the capacity or else pay for it in any event. That will provide the certainty that investors need to expand the capacity of the port."
He says the ACCC has not seen all the details of the agreement, but has seen enough to demonstrate that it will be a step forward in improving the port's operation.
"We've only seen the bare bones of the agreement as was put to us last evening, but I'd have to say to you that the impression that we get, particularly in discussions with the New South Wales Government, is that this is an agreement that is binding on the parties. It does take the parties a long way forward now in terms of the implementation of a long-term solution," he said.
"If the agreements are in the form that we understand them to be, and we're only into the very initial sort of review and consultation phase, but if they are in the form, I think there's every expectation that what we've now taken is the big step needed towards the long-term solution with Port Waratah."
However, Mr Samuel says further investment in rail and other infrastructure is needed to substantially increase the capacity to export the Hunter Valley's coal.
"Our authorisation was initially intended to stop the ship queues or to reduce them. Ultimately we've said, you've got to find a long term solution to this," he said.
"All that you're doing at the moment is, by putting in place this queue allocation system, this capacity allocation system, you're just providing a temporary stop-gap measure, but you're not providing for a long-term solution. And you're actually reducing the overall ability for the Hunter Valley coal mines to export their coal."
Source: ABC
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Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
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- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
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- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
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- Salva Resources Pvt Ltd - India
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- Simpson Spence & Young - Indonesia
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- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
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- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
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- Gujarat Mineral Development Corp Ltd - India
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- The University of Queensland
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- Marubeni Corporation - India
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- Bayan Resources Tbk. - Indonesia
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- Port Waratah Coal Services - Australia
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- Minerals Council of Australia
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- SMC Global Power, Philippines
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- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
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- White Energy Company Limited
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- Sojitz Corporation - Japan
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- Australian Coal Association
- Edison Trading Spa - Italy
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- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
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- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
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- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
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- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Eastern Coal Council - USA
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