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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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- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
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- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
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- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
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- Power Finance Corporation Ltd., India
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- Planning Commission, India
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- White Energy Company Limited
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- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
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- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
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