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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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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- PTC India Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Mercator Lines Limited - India
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