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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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
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- Anglo American - United Kingdom
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- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
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- Rio Tinto Coal - Australia
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- Indika Energy - Indonesia
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- White Energy Company Limited
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- Economic Council, Georgia
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- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
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- South Luzon Thermal Energy Corporation
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- Electricity Generating Authority of Thailand
- Planning Commission, India
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- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
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- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
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- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
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- European Bulk Services B.V. - Netherlands
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- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
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- Carbofer General Trading SA - India
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- Merrill Lynch Commodities Europe
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- Singapore Mercantile Exchange
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- Bahari Cakrawala Sebuku - Indonesia
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- Ministry of Transport, Egypt
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- Edison Trading Spa - Italy
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- Straits Asia Resources Limited - Singapore
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- Energy Development Corp, Philippines
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- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
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- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Australian Coal Association
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
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- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
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- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
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