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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, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Banpu Public Company Limited - Thailand
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- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
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- Bangladesh Power Developement Board
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- ASAPP Information Group - India
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- India Bulls Power Limited - India
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- Petron Corporation, Philippines
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- Minerals Council of Australia
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- MS Steel International - UAE
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- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
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- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
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- PowerSource Philippines DevCo
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- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- White Energy Company Limited
- Ministry of Transport, Egypt
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- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
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- Bhatia International Limited - India
- Electricity Authority, New Zealand
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- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
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- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
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- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
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- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
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- Jorong Barutama Greston.PT - Indonesia
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- Commonwealth Bank - Australia
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- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
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- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
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- Timah Investasi Mineral - Indoneisa
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- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
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- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
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- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
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- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
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- Bukit Makmur.PT - Indonesia
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- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Indogreen Group - Indonesia
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