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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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Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- London Commodity Brokers - England
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- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
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- SMC Global Power, Philippines
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- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
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- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
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- Larsen & Toubro Limited - India
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- Australian Commodity Traders Exchange
- Australian Coal Association
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- Minerals Council of Australia
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- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
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- Ambuja Cements Ltd - India
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- Goldman Sachs - Singapore
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- VISA Power Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- The Treasury - Australian Government
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- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
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- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
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- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
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- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Thai Mozambique Logistica
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- McConnell Dowell - Australia
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- India Bulls Power Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
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- Interocean Group of Companies - India
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- Independent Power Producers Association of India
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- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
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- Pendopo Energi Batubara - Indonesia
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- Indonesian Coal Mining Association
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- GN Power Mariveles Coal Plant, Philippines
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- Planning Commission, India
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- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- The University of Queensland
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
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