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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 $7.4 billion, or eight per cent in government take over the first five years of the tax, Wood Mackenzie head of coal supply research Gero Farruggio said.
Mr Farruggio said coal miners were already battling strong cost inflation and falling productivity.
"Traditionally Australia is viewed as a low-cost exporter, but in our 2010 global thermal coal export cash cost (of production) rankings it is well down the table in sixth place," he said.
"Indonesia dominates the ranking tables with the largest thermal coal production and lowest average cash cost.
"In contrast to Australia, it (Indonesia) has moved to reduce the level of government take from coal production."
Source: Nine Msn / Hellenic Shipping
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
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- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Australian Coal Association
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
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- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
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- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
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