Feb 28, 2011 3:04pm GMT
LONDON Feb 28 (Reuters) - Pirates have released a Japanese-operated cargo ship hijacked last October off Kenya, the European Union anti-piracy force said on Monday.
The EU Navfor force said in a statement the Izumi, operated by NYK-Hinode Line, was released from pirate control on Feb. 25.
It said the Panama-flagged vessel and its Filipino crew of 20 were believed to be making for a safe port, adding that it had no information on the condition of the vessel or the crew.
The 14,000-dwt Izumi had been on route to Mombasa in Kenya carrying a cargo of steel. The Kenya-based East African Seafarers Association said last October Somali pirates had seized the vessel.
Earlier on Monday, EU Navfor said pirates had seized the Greek-owned bulk carrier Dover in the North Arabian sea about 260 miles northeast of Salalah in Oman, taking the 23-strong crew hostage. (Reporting by Tim Castle; editing by Andrew Dobbie, Thomson Reuters)
Showing posts with label Monday Feb28 2011. Show all posts
Showing posts with label Monday Feb28 2011. Show all posts
Monday, February 28, 2011
India ups iron ore export duty, China hardest hit
Mon Feb 28, 2011 1:27pm GMT
* Soaring global prices could rise further
* Most exports go to China
* Industry body says exports will be uncompetitive
* India aims to keep more iron ore for domestic steel
* Shares in producer Sesa Goa slide
By Siddesh Mayenkar
MUMBAI, Feb 28 (Reuters) - India will quadruple export duty on iron ore fines as it seeks to curb exports, mostly to China, in a budget move announced on Monday that hit domestic producer shares and could push spot prices to new record levels.
The world's third largest iron ore exporter wants to conserve supply for domestic steel makers, who play a vital role in building growing infrastructure.
India plans to raise the duty to 20 percent from 5 percent on fines and to 20 percent from 15 percent on lumps. [ID:nSGE71R040]. Fines are dust form ore with a lower iron content than lumps.
"This will make the exports of (Indian) iron ore uncompetitive in the global market," said R.K. Sharma, secretary general of the Federation of Indian Mineral Industries (FIMI).
Almost all of India's annual 100 million tonnes of iron ore exports head to China. Its overseas sales compete with the world's top two exporters, Australia and Brazil.
"This could tighten up the market further," said Henry Liu, regional head of commodity research at Mirae Asset Securities in Hong Kong.
"This will increase the floor price for Indian prices and if Indian prices increase then that will push prices to China higher."
Shares in Indian iron ore miner Sesa Goa (SESA.BO: Quote) extended losses on the duty imposition, hitting a 52-week low.
Steelmakers welcomed the move.
"The increase in export duty on iron ore will increase its availability in the domestic market, thereby stabilising price and helping domestic steelmakers," said Nittin Johari, chief financial officer of Bhushan Steel (BSSL.BO: Quote).
MORE PRESSURE
The move was widely expected as India tries to underpin its rapidly-growing economy with investment in infrastructure.
China said it could pinch their margins as steel prices fall.
"Steel mills can't take costlier raw materials at the moment as steel prices were heading downward recently on weak demand," said an iron ore official a mid-sized Chinese steel mill, owning annual crude steel capacity of around 5 million tonnes.
But with iron ore miners in Australia and Brazil running flat out to cash in on prices near $200 a tonne, and little spare capacity elsewhere in the world, Chinese buyers have a difficult choice -- pay the additional tax, or cut production.
Iron ore was offered at around $189-191 per tonne with freight in China on Monday with little immediate impact seen by traders from the duty hike in a market where contracts are on a quarterly basis. The record high hit earlier this month was near $200 per tonne. [IRONORE/]
Shipping freight rates could be adversely affected by any further fall in exports from India.
"Freight rates will come under more pressure on this," said a Singapore-based shipbroker. "Rates are already at two-year lows on oversupply problems and this will only add to the problem."
India's iron ore exports have already slumped on the ban of shipments by the southern state of Karnataka -- contested by exporters in the Supreme Court -- with sales down 24.8 percent in December to 9.7 million tonnes from a year ago.
Exports during the April-December period fell 17.02 percent from a year earlier to 64.4 million tonnes. India usually exports around 100 million tonnes per year. China buys over 96 million tonnes, making India its third-biggest supplier.
Two other Indian states, leading producer Orissa and Chhattisgarh, which accounts for 5 percent of India's shipments, have asked the federal government to allow them to ban exports.
The government would prefer states to focus on improved regulation of the sector and incentives for increased domestic use of the resource. That would better target illegal production instead of export bans which hurt all producers.
India's steel minister, Beni Prasad Verma called for curbs on exports of iron ore on Friday. [ID:nSGE71O075]
India hiked freight rates for iron ore exports by 50 percent to 1,500 rupees per tonne on Jan. 27 but kept it unchanged in Friday's Railway Budget. [ID:nSGE70O07P]
The increase in export duty would bring in around $1.6 billion annually to New Delhi's coffers on the basis of the volume and price of exports to China in 2010. That is a fraction of the government's total expenditure of 12.58 trillion Indian rupees (nearly $278 billion). [ID:nINBUDGET]
( $1 = 45.275 Indian Rupees)
(Additional reporting by Manolo Serapio Jr. and Randy Fabi in Singapore, Ruby Lian in Shanghai, Swati Pandey in Mumbai; Writing by Jo Winterbottom; editing by Simon Webb and William Hardy, sourced:Thomson Reuters)
China steelmakers to benefit from Yuan appreciation
Monday, 28 Feb 2011 By Dow Jones
Dow Jones quoted an executive with one of China largest steelmakers said Yuan appreciation will benefit Chinese steelmakers as the total value of their imports, including iron ore and coking coal is larger than the value of steel exports.
The executive said China steel exports are still small less than 10% of domestic steel output, but China's imports of raw material for steel making are large especially iron ore.
According to data from the China Iron and Steel Association, China imported 618.6 million tonnes of iron ore at an average price of USD 128.38 last year. If the yuan were to appreciate by 5% against the US dollar from average 2010 levels, Chinese steelmakers could save USD 3.97 billion.
However, the executive said global miners including Anglo-Australian Rio Tinto PLC, BHP Billiton Ltd and Brazilian miner Vale SA may raise iron ore prices if the Australian dollar and Brazilian real also appreciate against the US dollar.
The executive said China steel exports are still small less than 10% of domestic steel output, but China's imports of raw material for steel making are large especially iron ore.
According to data from the China Iron and Steel Association, China imported 618.6 million tonnes of iron ore at an average price of USD 128.38 last year. If the yuan were to appreciate by 5% against the US dollar from average 2010 levels, Chinese steelmakers could save USD 3.97 billion.
However, the executive said global miners including Anglo-Australian Rio Tinto PLC, BHP Billiton Ltd and Brazilian miner Vale SA may raise iron ore prices if the Australian dollar and Brazilian real also appreciate against the US dollar.
Tags:steelmaking, CISA, Anglo American Plc,
Macroeconomic indicators - China targeting 7pct GDP growth in next 5 years
Monday, 28 Feb 2011 by DJ
Chinese Premier Mr Wen Jiabao said that the government is to set its target for average gross domestic product growth for the 2011-2015 period at 7%, highlighting the shift of the country's concentration on economy development from speed to quality.
The comments, made by Mr Wen during an online chat with Internet users, comes ahead of China's annual parliament session of National People's Congress starting March 5 when China will approve economic policies for the year. The NPC this year will also approve the economic development guidance for next five years.
Mr Wen stressed the importance of people's living standard and the environment protection. He said “We'll never seek a high economic growth rate and size at the price of the environment, as that would result in unsustainable growth with industrial overcapacity and intensive resource consumption.”
Mr Wen admitted that restructuring the growth pattern will not be easy. He said “We need to make every local government know that the key impetus of economic growth lies in scientific and technological progress and in boosting domestic consumption.”
Mr Wen said the central government would adopt new performance evaluation criteria for local governments and give more weight to efficiency, environment protection and living standards.
Investors are paying close attention to China's economic growth target as they try to get a hint of the government's policy direction. The target lower than the 7.5% for the previous five years, is delivering a message that China will focus on raising the quality of economic growth.
SSY ATLANTIC CAPESIZE INDEX 21/02/2011- 28/02/2011
Monday, 28 February 2011 14:24
The Atlantic Capesize Index fell to a 2-week low of 5,341 points,down 420 points from last week. Atlantic round voyage rates for 172kdwt vessels have fallen from $7,500/day one week earlier to $4,000/day
Source: SSY Consultancy & Research Ltd
NMDC and MECON comes together for Chhattisgarh project
Monday, 28 Feb 2011 By IANS
It is reported that NMDC Ltd has signed a deal with MECON for rendering engineering consultancy services to its upcoming steel project in Chhattisgarh.
A press statement said that "NMDC signed an agreement with MECON for rendering engineering consultancy services for setting up of 3 million tonnes per annum integrated steel plant of NMDC at Nagarnar in Chhattisgarh.”
The release added that the contract was signed Wednesday at NMDC head office in Hyderabad.
The Nagarnar plant, for which land acquisition has been completed, will come up in Chhattisgarh Bastar region.
A press statement said that "NMDC signed an agreement with MECON for rendering engineering consultancy services for setting up of 3 million tonnes per annum integrated steel plant of NMDC at Nagarnar in Chhattisgarh.”
The release added that the contract was signed Wednesday at NMDC head office in Hyderabad.
The Nagarnar plant, for which land acquisition has been completed, will come up in Chhattisgarh Bastar region.
SAIL Chairman C. S. Verma's reaction to the Budget
New Delhi, 28 February, 2011
"The Budget is firmly growth-oriented and has various positives for the steel industry.
The Govt’s continued thrust on development of infrastructure and manufacturing will help steel demand in the country to grow. Besides, higher support for the housing sector is a step in the positive direction.
"Higher export duty on iron ore has been a long pending demand of the steel industry and the Budget has taken care of the issue by increasing the export duty to 20%. This should ensure higher availability of iron ore for the Indian steel industry.
Again, withdrawal of export duty on pellets should encourage installation of pellet plants by mining companies. More pellet plants in the country will also benefit the steel industry.
"Further, reduction in surcharge on income tax from 7.5% to 5% will have a positive impact on domestic companies, making available disposable surplus for investment. The proposed Constitutional Amendment Bill on GST is also a welcome development."
The Govt’s continued thrust on development of infrastructure and manufacturing will help steel demand in the country to grow. Besides, higher support for the housing sector is a step in the positive direction.
"Higher export duty on iron ore has been a long pending demand of the steel industry and the Budget has taken care of the issue by increasing the export duty to 20%. This should ensure higher availability of iron ore for the Indian steel industry.
Again, withdrawal of export duty on pellets should encourage installation of pellet plants by mining companies. More pellet plants in the country will also benefit the steel industry.
"Further, reduction in surcharge on income tax from 7.5% to 5% will have a positive impact on domestic companies, making available disposable surplus for investment. The proposed Constitutional Amendment Bill on GST is also a welcome development."
Inner Mongolia Qinghua to invest 78.7bln in Xinjiang coal chemical
Feb28,2011 By en.sxcoal
Inner Mongolia Qinghua Group plans to earmark 78.7 billion yuan to build a refined coal chemical industrial zone in Yining county, Xinjiang Uygur autonomous region, Wenhui newspaper reported.
Qinghua Group will prioritize the projects of 10 million tonnes coal-to-methane and 5.5 billion cubic meters coal-to-natural gas in the industrial zone, which covers an area of 22.37 square kilometers, according to the report.
Earlier in May 2009, with a total investment of 23 billion yuan, Qinghua Group started constructing the first coal-to-natural gas industrial zone in Xinjiang.
The project, which is scheduled to complete construction in 2012, would have annual output of 5.5 billion cubic meters coal-to-natural gas, 700,000 tonnes coal tar hydrogenation, synthetic ammonia as well as 2 million tonnes coal ash-to-cement.
Qinghua Group will prioritize the projects of 10 million tonnes coal-to-methane and 5.5 billion cubic meters coal-to-natural gas in the industrial zone, which covers an area of 22.37 square kilometers, according to the report.
Earlier in May 2009, with a total investment of 23 billion yuan, Qinghua Group started constructing the first coal-to-natural gas industrial zone in Xinjiang.
The project, which is scheduled to complete construction in 2012, would have annual output of 5.5 billion cubic meters coal-to-natural gas, 700,000 tonnes coal tar hydrogenation, synthetic ammonia as well as 2 million tonnes coal ash-to-cement.
SDIC Jingtang port coal stock rises last wk
Feb 28, 2011 By en.sxcoal
Coal stockpiled at SDIC Jingtang port, one of North China’s main loading ports, increased 13.37 percent in the week from Feb 22 to 28, according to a report from Qinhuangdao Seaborne Coal Market.
During the week, daily coal inventory at the port rose 235,800 tonnes on average from the previous week to 2 million tonnes, said the report.
As of Feb 28, Jingtang port had 2.05 million tonnes coal in stock, the highest stock since 2009.
Statistics showed coal transported to the port via railway decreased 49,700 tonnes to 873,900 tonnes last week, down 5.38 percent from a week ago, averaging 124,800 tonnes per day.
As Jingtang port closed the navigation for 20 hours due to gale occurred on Feb 27, coal handling at the port fell 167,000 tonnes or 24.42 percent from the previous week to 651,000 tonnes, averaging 93,000 tonnes a day, it added.
There were a total of 202 vessels waiting off the port last week, jumping 44.28 percent from a week ago or 62 vessels more.
Russia ministry nixes steel export duty plans
Mon Feb 28, 2011 10:17am GMT
MOSCOW Feb28(Reuters)- Russia's Ministry for Economic Development has abandoned plans to put an export duty on steel and iron ore to protect domestic automakers, deputy minister Andrei Slepnyov said on Monday according to Interfax.
"Automakers reached an agreement with the metals and mining companies about the current issue (of steel pricing), therefore it is no longer necessary to impose an export duty," the agency quoted Slepnyov as saying.
Car makers including AvtoVAZ (AVAZ.MM: Quote) voiced complaints over rising steel prices at the end of last year. (Reporting by Alfred Kueppers, sourced:Thomson Reuters)
Tags:steel mills, Russian steelmakers,
Nippon says Y20,000 price hike needed after April
(Update1- Nippon Steel sees input costs up by Y15,000/tonne)
* Nippon says Y20,000 price hike needed after April
* Says price increase necessary due to higher input costs
TOKYO Feb 28 (Reuters) - Nippon Steel Corp expects major input costs to rise by more than 15,000 yen ($183.50) per tonne after April, a company official said on Monday.
Due to the rise in input costs, Nippon Steel estimates that a price hike of about 20,000 yen per tonne is necessary for its steel products in general, Kozo Uchida, a senior Nippon Steel executive, told reporters.
That may be equivalent to a nearly 25 percent price hike, given Nippon Steel's average product price of about 82,000 yen planned for the year to March 31.
Its smaller rival JFE Steel last week told primary distributors that it would raise prices steel sheets by 20,000 yen per tonne, signalling to volume contract users such as Toyota Motor Corp the level of price hike it seeks.
Big steelmakers usually push through a price hike among its primary dealers first before starting tough pricing talks with volume users, who buy on contracts, like car and electronics makers and shipbuilders. (Reporting by Yuko Inoue; Editing by Chris Gallagher,sourced:Thomson Reuters)
Baosteel inks 3-year coking coal deal with Rio Tinto
Monday, Feb 28, 2011 10:36am GMT by Reuters
SHANGHAI - China's Baoshan Iron & Steel (600019.SS: Quote) said on Monday it had signed a three-year coking coal supply contract with major Australian miner Rio Tinto (RIO.L: Quote) to kick off new long-term cooperation for another key raw material.
Rio Tinto will supply coking coal to the Chinese steel firm starting this year, making Baosteel its first long-term Chinese coal buyer.
Baosteel didn't disclose the supply volume on its website report.
Rio Tinto is the world's third biggest miner by market value and produces both coking coal and thermal coal.
Most of the state's coal industry was shut in December and January as flood waters inundated pits, damaged rail lines and shut ports, and most experts predicted it could take until the end of the first quarter for the industry to return to normal.
Coal production in Australia's flood-hit Queensland state could drop by between 25 percent and 50 percent this quarter, leading to tighter supply for Asian steelmakers.
Australia is the world's largest exporter of coking coal, and Queensland state accounts for the majority of Australian coking coal production.
Baosteel, China's top listed steel mill, said on Friday it has exchanged ideas with Australia's major miner Rio Tinto on how to improve iron ore pricing.
Baosteel used to lead other major domestic steel mills in the annual negotiation with global miners including Vale (VALE.N: Quote)(VALE5.SA: Quote) and BHP Billiton (BHP.AX: Quote) (BLT.L: Quote), but miners pushed buyers to accept an index-based quarterly pricing mechanism to take advantage of the rising spot market.(Reporting by Ruby Lian and Tom Miles; Editing by Jacqueline Wong)
Tags: Australian thermal coal, Vale, BHP Billiton, rising spot market,
Rio Tinto will supply coking coal to the Chinese steel firm starting this year, making Baosteel its first long-term Chinese coal buyer.
Baosteel didn't disclose the supply volume on its website report.
Rio Tinto is the world's third biggest miner by market value and produces both coking coal and thermal coal.
Most of the state's coal industry was shut in December and January as flood waters inundated pits, damaged rail lines and shut ports, and most experts predicted it could take until the end of the first quarter for the industry to return to normal.
Coal production in Australia's flood-hit Queensland state could drop by between 25 percent and 50 percent this quarter, leading to tighter supply for Asian steelmakers.
Australia is the world's largest exporter of coking coal, and Queensland state accounts for the majority of Australian coking coal production.
Baosteel, China's top listed steel mill, said on Friday it has exchanged ideas with Australia's major miner Rio Tinto on how to improve iron ore pricing.
Baosteel used to lead other major domestic steel mills in the annual negotiation with global miners including Vale (VALE.N: Quote)(VALE5.SA: Quote) and BHP Billiton (BHP.AX: Quote) (BLT.L: Quote), but miners pushed buyers to accept an index-based quarterly pricing mechanism to take advantage of the rising spot market.(Reporting by Ruby Lian and Tom Miles; Editing by Jacqueline Wong)
Tags: Australian thermal coal, Vale, BHP Billiton, rising spot market,
Italy’s steel imports from non-EU countries up 53 percent in January
Monday, 28 February 2011
According to the statistics released by the Italian steel producers' association Federacciai, in January this year Italy's steel imports from non-EU countries reached 852,000 metric tons, increasing by 53.2 percent year on year, while its steel exports to non-EU countries totaled 334,000 metric tons, up five percent year on year.
In the first month of the current year, Italy's semi-finished steel product imports from the countries in question reached 293,000 metric tons, up 33.8 percent year on year, while its semi-finished steel product exports to these countries amounted to 18,000 metric tons, decreasing by 14.3 percent year on year.
In January this year, Italy's imports of long steel products from non-EU countries increased by 96.6 percent to 57,000 metric tons, while its long product exports to non-EU destinations totaled 72,000 metric tons, down 19.1 percent, both on year-on-year basis.
On the other hand, in the given month Italy's flat product imports from non-EU countries reached 468,000 metric tons, up 69 percent as compared to January 2010, while its flat product exports outside the EU amounted to 133,000 metric tons, with a yearly increase of 1.5 percent.
*The unit of measurement for product volumes is thousand metric tons.
** Products include seamless pipes, welded pipes, forged bars, cold drawn sections and bars, drawn wire and cold rolled strips.
*** Products include steel sections for the mining industry, scaffolding steel materials, accessories for steel pipes, flanges, checkered steel plates and iron powder.
Tags: pipe , plate , longs , flats , semis , tubular , Italy , Europe , European Union , Mediterranean
According to the statistics released by the Italian steel producers' association Federacciai, in January this year Italy's steel imports from non-EU countries reached 852,000 metric tons, increasing by 53.2 percent year on year, while its steel exports to non-EU countries totaled 334,000 metric tons, up five percent year on year.
In the first month of the current year, Italy's semi-finished steel product imports from the countries in question reached 293,000 metric tons, up 33.8 percent year on year, while its semi-finished steel product exports to these countries amounted to 18,000 metric tons, decreasing by 14.3 percent year on year.
In January this year, Italy's imports of long steel products from non-EU countries increased by 96.6 percent to 57,000 metric tons, while its long product exports to non-EU destinations totaled 72,000 metric tons, down 19.1 percent, both on year-on-year basis.
On the other hand, in the given month Italy's flat product imports from non-EU countries reached 468,000 metric tons, up 69 percent as compared to January 2010, while its flat product exports outside the EU amounted to 133,000 metric tons, with a yearly increase of 1.5 percent.
Product | Imports | Exports | Balance | |||||
Jan 2010* | Jan 2011 | Jan 2011/10 (%) | Jan 2010 | Jan 2011 | Jan 2011/10 (%) | Jan 2010 | Jan 2011 | |
Ingots and semi-finished products | 219 | 293 | +33.8 | 21 | 18 | -14.3 | -198 | -275 |
Long products | 29 | 57 | +96.6 | 89 | 72 | -19.1 | +60 | +15 |
Flat products | 277 | 468 | +69 | 131 | 133 | +1.5 | -146 | -335 |
Primary manufactured products ** | 24 | 26 | +8.3 | 65 | 100 | +53.8 | +41 | +74 |
Secondary manufactured products *** | 7 | 8 | +14.3 | 12 | 11 | -8.3 | +5 | +3 |
Total | 556 | 852 | +53.2 | 318 | 334 | +5 | -238 | -518 |
*The unit of measurement for product volumes is thousand metric tons.
** Products include seamless pipes, welded pipes, forged bars, cold drawn sections and bars, drawn wire and cold rolled strips.
*** Products include steel sections for the mining industry, scaffolding steel materials, accessories for steel pipes, flanges, checkered steel plates and iron powder.
Tags: pipe , plate , longs , flats , semis , tubular , Italy , Europe , European Union , Mediterranean
Italy’s Feralpi Group commissions new electric arc furnace and photovoltaic system
Monday, 28 February 2011
On February 25, Italy-based Feralpi Group, owner of steel and rolling mills in Italy, Germany, Hungary and the Czech Republic, commissioned a new electric arc furnace (EAF) and a photovoltaic system at its historical facility located in Lonato del Garda, Brescia.
The new furnace has been built with the cooperation of Tenova (Techint Group) and Feralpi's subsidiary Comeca, in order to meet the company's needs, targeting mainly improvements in safety standards and in control of the steelmaking process. The new plant, which has been built with an investment of about €10 million, replaces the previous one built in 1997. It includes a control room located at a height of eight meters, allowing a broader view of the steelmaking process. The molten steel is conveyed into a ladle and cast continuously in 140 mm x 140 mm x 12 m billets, to be sold or rolled into rebar and wire rod.
The investment in the new photovoltaic system amounts to €2 million. It consists of 2,718 modules, covering an area of 158 acres and will reduce Feralpi's yearly CO2 output by 640 mt.
On the same day, the company held an event titled "Sustainibility and innovation as competitive advantages", during which Giuseppe Pasini, chairman of Feralpi Group and president of the Italian steelmakers' association Federacciai, underlined the commitment of the company to invest in enhancing the technological level and sustainibility of its steelmaking process.
Tags:rebar, wire rod, billet, longs, semis, Italy, Europe, Feralpi, production, investments, steelmaking , crude steel, European Union, Mediterranean
The new furnace has been built with the cooperation of Tenova (Techint Group) and Feralpi's subsidiary Comeca, in order to meet the company's needs, targeting mainly improvements in safety standards and in control of the steelmaking process. The new plant, which has been built with an investment of about €10 million, replaces the previous one built in 1997. It includes a control room located at a height of eight meters, allowing a broader view of the steelmaking process. The molten steel is conveyed into a ladle and cast continuously in 140 mm x 140 mm x 12 m billets, to be sold or rolled into rebar and wire rod.
The investment in the new photovoltaic system amounts to €2 million. It consists of 2,718 modules, covering an area of 158 acres and will reduce Feralpi's yearly CO2 output by 640 mt.
On the same day, the company held an event titled "Sustainibility and innovation as competitive advantages", during which Giuseppe Pasini, chairman of Feralpi Group and president of the Italian steelmakers' association Federacciai, underlined the commitment of the company to invest in enhancing the technological level and sustainibility of its steelmaking process.
Tags:rebar, wire rod, billet, longs, semis, Italy, Europe, Feralpi, production, investments, steelmaking , crude steel, European Union, Mediterranean
China minister warns pollution, waste imperil growth
Mon Feb 28, 2011 8:58am GMT
* Official sees pollution, resource strains as "bottleneck"
* Signals bigger role in fighting climate change
* China caught between maintaining growth, taming pollution
* "Green growth" a long way off-researcher
By Chris Buckley
BEIJING, Feb 28 (Reuters) - China faces acute environmental and resource strains that threaten to choke growth unless the world's second-biggest economy cleans up, the nation's environment minister said in an unusually blunt warning.
In an essay published on Monday, Zhou Shengxian also said his agency wants to make assessing projected greenhouse gas emissions a part of evaluating proposed development projects.
That could give China's Ministry of Environmental Protection more sway in climate change issues, an area dominated by agencies whose main interest is shoring up industrial growth.
Zhou set environmental worries at the heart of China's next phase of economic development -- a theme in focus at the country's annual parliament session starting on Saturday.
"In China's thousands of years of civilisation, the conflict between humanity and nature has never been as serious as it is today," Zhou said in the essay published in the China Environment News, his ministry's official newspaper.
"The depletion, deterioration and exhaustion of resources and the deterioration of the environment have become serious bottlenecks constraining economic and social development."
Zhou's words highlight the policy struggle in China between stoking growth and taming pollution and resource consumption. On Sunday, Premier Wen Jiabao also said the country should aim for slower, cleaner growth.
Wen says growth must protect stability
Government to curb heavy metal pollution
Cleaning up water pollution to cost
China tries to clean up coal sector
Rare earths sector heavily polluting
"This is a crucial time for deciding policy, so he's trying to bring more urgency to getting more teeth for his ministry by making people grasp the huge challenges," said Yang Ailun, the head of climate and energy for Greenpeace China, an advocacy group, speaking of Zhou's essay.
Chinese officials often promote the need to maintain fast economic growth to pull hundreds of millions of citizens out of hardship. But Zhou said prospects for growth could be threatened unless smoggy skies, polluted rivers and reckless exploitation of mine reserves are taken much more seriously in setting policy.
"PRICE TO PAY"
"If we are numb and apathetic in the face of the acute conflict between humankind and nature, and environmental management remains stuck in the old rut with no efforts in environmental technology, there will surely be a painful price to pay, and even irrecoverable losses," said Zhou.
China is now the world's biggest emitter of greenhouse gases from burning fossil fuels and other human activities that scientists say are causing global warming. It is the world's biggest polluter and biggest consumer of resources across a range of other measures.
In 2009, nearly 20 percent of the length of China's monitored rivers and lakes had pollution worse than Grade 5, making the water officially unfit for even irrigating crops, according to government statistics.
To double the size of the economy between 2000 and 2020 and keep environmental conditions at levels met in 2000, China will have to improve its efficiency in using resources by 4 to 5 times compared to 2000 levels, said Zhou, citing findings of the Chinese Academy of Sciences.
China has repeatedly promised to clean up distressed rivers and lakes and smog-filled skies. But it often fails to match rhetoric with resources and the will to enforce those vows.
A researcher from the Ministry of Environmental Protection's own policy institute said China would remain focused on industrial growth for many years yet and "more patience is needed to achieve green development".
"Pursuing economic growth will remain China's development goal and task for a long time to come," the researcher Yu Hai wrote in the latest issue of Environmental Protection, the ministry's Chinese-language policy journal.
In January, more than 200 children living near battery plants in eastern China showed elevated levels of lead in their blood -- the latest such outbreak to prompt an outcry.
"Voices across society urging concern for environmental health are rising, and this is having a negative effect on social harmony and stability," said Zhou.
A BIGGER SAY IN CLIMATE CHANGE?
To counter such threats, he proposed strengthening his ministry's ability to monitor and curb pollution, including taking a bigger role in greenhouse gas emissions.
Chinese greenhouse gas and climate change policy are dominated by the National Development and Reform Commission, a powerful agency also charged with guarding industrial growth.
The Ministry of Environmental Protection will establish a "risk assessment system for atmospheric pollutants and climate change", and will study how to embed climate change issues into environmental protection goals and assessment, said Zhou.
That will include assessing projected greenhouse gas emissions from proposed new projects, such as factories.
"The Ministry of Environmental Protection can use this tool to get more say in climate and energy policy," said Yang, the Greenpeace China analyst, referring to Zhou's proposals.
(Editing by Ken Wills and David Fogarty)* Signals bigger role in fighting climate change
* China caught between maintaining growth, taming pollution
* "Green growth" a long way off-researcher
By Chris Buckley
BEIJING, Feb 28 (Reuters) - China faces acute environmental and resource strains that threaten to choke growth unless the world's second-biggest economy cleans up, the nation's environment minister said in an unusually blunt warning.
In an essay published on Monday, Zhou Shengxian also said his agency wants to make assessing projected greenhouse gas emissions a part of evaluating proposed development projects.
That could give China's Ministry of Environmental Protection more sway in climate change issues, an area dominated by agencies whose main interest is shoring up industrial growth.
Zhou set environmental worries at the heart of China's next phase of economic development -- a theme in focus at the country's annual parliament session starting on Saturday.
"In China's thousands of years of civilisation, the conflict between humanity and nature has never been as serious as it is today," Zhou said in the essay published in the China Environment News, his ministry's official newspaper.
"The depletion, deterioration and exhaustion of resources and the deterioration of the environment have become serious bottlenecks constraining economic and social development."
Zhou's words highlight the policy struggle in China between stoking growth and taming pollution and resource consumption. On Sunday, Premier Wen Jiabao also said the country should aim for slower, cleaner growth.
Wen says growth must protect stability
Government to curb heavy metal pollution
Cleaning up water pollution to cost
China tries to clean up coal sector
Rare earths sector heavily polluting
"This is a crucial time for deciding policy, so he's trying to bring more urgency to getting more teeth for his ministry by making people grasp the huge challenges," said Yang Ailun, the head of climate and energy for Greenpeace China, an advocacy group, speaking of Zhou's essay.
Chinese officials often promote the need to maintain fast economic growth to pull hundreds of millions of citizens out of hardship. But Zhou said prospects for growth could be threatened unless smoggy skies, polluted rivers and reckless exploitation of mine reserves are taken much more seriously in setting policy.
"PRICE TO PAY"
"If we are numb and apathetic in the face of the acute conflict between humankind and nature, and environmental management remains stuck in the old rut with no efforts in environmental technology, there will surely be a painful price to pay, and even irrecoverable losses," said Zhou.
China is now the world's biggest emitter of greenhouse gases from burning fossil fuels and other human activities that scientists say are causing global warming. It is the world's biggest polluter and biggest consumer of resources across a range of other measures.
In 2009, nearly 20 percent of the length of China's monitored rivers and lakes had pollution worse than Grade 5, making the water officially unfit for even irrigating crops, according to government statistics.
To double the size of the economy between 2000 and 2020 and keep environmental conditions at levels met in 2000, China will have to improve its efficiency in using resources by 4 to 5 times compared to 2000 levels, said Zhou, citing findings of the Chinese Academy of Sciences.
China has repeatedly promised to clean up distressed rivers and lakes and smog-filled skies. But it often fails to match rhetoric with resources and the will to enforce those vows.
A researcher from the Ministry of Environmental Protection's own policy institute said China would remain focused on industrial growth for many years yet and "more patience is needed to achieve green development".
"Pursuing economic growth will remain China's development goal and task for a long time to come," the researcher Yu Hai wrote in the latest issue of Environmental Protection, the ministry's Chinese-language policy journal.
In January, more than 200 children living near battery plants in eastern China showed elevated levels of lead in their blood -- the latest such outbreak to prompt an outcry.
"Voices across society urging concern for environmental health are rising, and this is having a negative effect on social harmony and stability," said Zhou.
A BIGGER SAY IN CLIMATE CHANGE?
To counter such threats, he proposed strengthening his ministry's ability to monitor and curb pollution, including taking a bigger role in greenhouse gas emissions.
Chinese greenhouse gas and climate change policy are dominated by the National Development and Reform Commission, a powerful agency also charged with guarding industrial growth.
The Ministry of Environmental Protection will establish a "risk assessment system for atmospheric pollutants and climate change", and will study how to embed climate change issues into environmental protection goals and assessment, said Zhou.
That will include assessing projected greenhouse gas emissions from proposed new projects, such as factories.
"The Ministry of Environmental Protection can use this tool to get more say in climate and energy policy," said Yang, the Greenpeace China analyst, referring to Zhou's proposals.
Tags:China's coal sector clean up efforts, rare earths sector
FM cuts customs duty on petcoke, gypsum to 2.5%
Mon, Feb 28, 2011 at 14:20
The General Budget 2011-12 seeks to encourage domestic value addition vis-a-vis imports, to remove duty inversions and anomalies and to provide a level playing field for the domestic industry.
To this end, the Union Finance Minister, Pranab Mukherjee announced the following major proposals in the Budget presented in the Lok Sabha today:
•Full exemption for stainless steel scrap from basic customs duty;
•Reduction of import duties on specified raw material for the manufacture of syringes and needles to 5% basic and 4% CVD;
• Expanding the raw material list for manufacture of specified electronic components that are fully exempt from basic customs duty;
The Finance Minister, Mukherjee announced the enhanced rate of export duty for all types of iron ore at a unified 20% ad-valorem. Full exemption from export duty has been provided to iron ore pellets to encourage the value addition process for fines.
Announcing relief for the cement industry, Mukherjee said that the basic customs duty on two critical raw materials for this industry viz. petcoke and gypsum has been reduced to 2.5%.
Cash dispensers and their parts have been fully exempted from basic customs duty, to drive the financial inclusion agenda of the Government.
The General Budget 2011-12 seeks to encourage domestic value addition vis-a-vis imports, to remove duty inversions and anomalies and to provide a level playing field for the domestic industry.
To this end, the Union Finance Minister, Pranab Mukherjee announced the following major proposals in the Budget presented in the Lok Sabha today:
•Full exemption for stainless steel scrap from basic customs duty;
•Reduction of import duties on specified raw material for the manufacture of syringes and needles to 5% basic and 4% CVD;
• Expanding the raw material list for manufacture of specified electronic components that are fully exempt from basic customs duty;
The Finance Minister, Mukherjee announced the enhanced rate of export duty for all types of iron ore at a unified 20% ad-valorem. Full exemption from export duty has been provided to iron ore pellets to encourage the value addition process for fines.
Announcing relief for the cement industry, Mukherjee said that the basic customs duty on two critical raw materials for this industry viz. petcoke and gypsum has been reduced to 2.5%.
Cash dispensers and their parts have been fully exempted from basic customs duty, to drive the financial inclusion agenda of the Government.
India hikes iron ore export duty to 20 pct
Mon Feb 28, 2011 8:47am GMT By Thomson Reuters
* Industry body says exports will be uncompetitive
* Shares in producer Sesa Goa slide
MUMBAI Feb 28 (Reuters) - India hiked export duty on iron ore to 20 percent from 5 percent for fines and from 15 percent for lumps in its budget on Monday in a move to curb exports and likely to push red-hot global prices higher.
India, the world's third-biggest iron ore exporter, wants to conserve the natural resource for domestic consumption.
"This will make the exports of (Indian) iron ore uncompetitive in the global market," said R.K. Sharma, secretary general of the Federation of Indian Mineral Industries (FIMI).
Steel Minister Beni Prasad Verma called for curbs on exports of iron ore on Friday and Karnataka, the country's second-biggest producing state, has a ban on shipments which is currently being contested by exporters in the Supreme Court.
India's iron ore exports have already slumped on the ban by Karnataka, with sales down 24.8 percent in December to 9.7 million tonnes from a year ago.
Exports during the April-December period fell 17.02 percent from a year earlier to 64.4 million tonnes. The country usually exports around 100 million tonnes per year.
Two other states, leading producer Orissa and Chhattisgarh, which accounts for 5 percent of India's annual shipments, have asked the federal government to allow them to ban exports.
The hike in export duty in the budget for the year to March 31, 2012 was widely expected as the country tries to underpin its rapidly-growing economy with investment in infrastructure.
The government would prefer states to focus on better regulation of the sector and incentives for increased domestic use of the resource -- moves which target better illegal production instead of export bans which hurt all producers.
FIMI's Sharma said the export duty would deter buyers.
"This measure could be counter-productive, and would make overseas importers shy away from buying from here," he said.
Shares in iron ore miner Sesa Goa extended losses on the duty imposition to hit a 52-week low.
India hiked freight rates for iron ore exports by 50 percent to 1,500 rupees per tonne on Jan. 27 but kept it unchanged in Friday's Railway Budget.
Spot iron ore prices extended losses on Monday after slumping 5 percent from mid-February last week, with Chinese steelmakers expecting prices to fall further on demand uncertainties.
(Reporting by Siddesh Mayenkar; Editing by Jo Winterbottom)
Hire a Blogger to Promote Your Business
Outsourcing your company's social media activity is risky. Whomever you bring on must show they can engage your customers and build trust for your brand
Feb25, 2011, 4:41PM ESTBy Karen E. Klein
Do you know of any companies that can blog for small businesses? —T.B.B., Houston
Outsourcing all kinds of social media marketing—from writing a company blog to updating Twitter or Facebook—is becoming a viable option for small business owners who simply don't have the time or inclination to take on the job themselves. Even some entrepreneurs who prefer to handle their own social media may designate a surrogate—in-house or outside—for when they are on vacation, in case they fall ill, or during busy season.
"There is an incredible need for [small and midsize businesses] to get up to speed on social media and social media best practices," says Jo Lilore, who consults on social media marketing and search engine optimization at WebBizStrategy.com in Pasadena, Calif. "Commerce and the Web in general have gone social, and there's no turning back. If you're not up to speed and in the game, you are not only losing potential leads and customers, you are also missing opportunities."
Jon Gelberg, chief content officer at Blue Fountain Media, a New York Web design and online marketing company, agrees. "Businesses are learning how valuable a well-written blog can be as a tool for branding a company, personalizing a company, and establishing the company or individual executive as an expert in their field," he says. But "a poorly written blog, on the other hand, can have a negative impact."
Authenticity and Continuity
The keys to outsourcing blogging, or designating an employee to blog for you, are maintaining authenticity and continuity, experts say. Because social media is interactive, part of a conversation between your company and your customers, you must ensure that anyone who stands in for you properly projects your company's "personality," says Caroline Melberg, a social media strategist who works with small businesses at Small Business Mavericks in Minneapolis.
"To maintain an authentic voice, you'll want to select an individual within your organization, or a firm specializing in social media, who can create interesting, engaging content on a frequent basis and who understands your brand and your key messaging. Every post, tweet, and comment should be strategically in alignment with your objectives as an organization," she says.
You must also be consistent in your social media efforts, says Wendy Brandes, who started a blog for her New York business, Wendy Brandes Jewelry, in 2007. She has made social media a cornerstone of her marketing and sales efforts, she says, and credits it with keeping her company afloat during the recent recession.
However, she cautions that entrepreneurs must be fully committed in order to be successful, whether they do their own blogging, assign the job to an employee, or outsource. "It can be something you farm out, but you can't start, gain an audience, and then stop due to limited resources," she says. "It's very negative to get people engaged in your blog and then drop it after they've invested time, money, and emotion in you."
New Skill Set
Because the social media sector is so new, it has attracted a "bevy of opportunists who pronounce themselves experts and proceed to fleece clients of their budgets, and sometimes their reputations," says Rob Frankel, a Los Angeles-based branding expert and author of The Revenge of Brand X. "Both social media and blogging services are like playing with fire: Used properly they can move mountains; used improperly they can blow your legs off."
Existing professionals, such as advertising copywriters or editorial writers, may want to take on the job, but they don't necessarily have the skills, Frankel says. "Becoming a blogger or social media manager isn't as simple as just proclaiming expertise based on some past ad campaign or articles written for a journal. A whole new skill set has to be shown that proves the ability to engage people while building trust for the brand," he says.
In the absence of established certifications or track records, what should you look for when you outsource? Here is Frankel's list:
Accountability. Ask outsources to provide case studies that show the results of their work.
Writing ability. Look for compelling and concise copy, whether posting to social networks or writing a blog.
Sensitivity. Can the outsourcer balance the social nature of the copy with the business's entrepreneurial interest and still maintain credibility and build trust with readers?
If you hire an outsider, look for a company that can work with you to create a social media marketing plan and advise you how to optimize your social channels, Lilore says. Make sure the company is as integrated with your business goals and brand as possible. "They should write the posts in advance and a staff member should vet them. Also, some documentation should be in place in terms of voice and tone, so the [outside] agency staff can stay on brand and on message when communicating through social channels," he says.
Karen E. Klein is a Los Angeles-based writer who covers entrepreneurship and small-business issues. (sourced:bloomberg)
"There is an incredible need for [small and midsize businesses] to get up to speed on social media and social media best practices," says Jo Lilore, who consults on social media marketing and search engine optimization at WebBizStrategy.com in Pasadena, Calif. "Commerce and the Web in general have gone social, and there's no turning back. If you're not up to speed and in the game, you are not only losing potential leads and customers, you are also missing opportunities."
Jon Gelberg, chief content officer at Blue Fountain Media, a New York Web design and online marketing company, agrees. "Businesses are learning how valuable a well-written blog can be as a tool for branding a company, personalizing a company, and establishing the company or individual executive as an expert in their field," he says. But "a poorly written blog, on the other hand, can have a negative impact."
Authenticity and Continuity
The keys to outsourcing blogging, or designating an employee to blog for you, are maintaining authenticity and continuity, experts say. Because social media is interactive, part of a conversation between your company and your customers, you must ensure that anyone who stands in for you properly projects your company's "personality," says Caroline Melberg, a social media strategist who works with small businesses at Small Business Mavericks in Minneapolis.
"To maintain an authentic voice, you'll want to select an individual within your organization, or a firm specializing in social media, who can create interesting, engaging content on a frequent basis and who understands your brand and your key messaging. Every post, tweet, and comment should be strategically in alignment with your objectives as an organization," she says.
You must also be consistent in your social media efforts, says Wendy Brandes, who started a blog for her New York business, Wendy Brandes Jewelry, in 2007. She has made social media a cornerstone of her marketing and sales efforts, she says, and credits it with keeping her company afloat during the recent recession.
However, she cautions that entrepreneurs must be fully committed in order to be successful, whether they do their own blogging, assign the job to an employee, or outsource. "It can be something you farm out, but you can't start, gain an audience, and then stop due to limited resources," she says. "It's very negative to get people engaged in your blog and then drop it after they've invested time, money, and emotion in you."
New Skill Set
Because the social media sector is so new, it has attracted a "bevy of opportunists who pronounce themselves experts and proceed to fleece clients of their budgets, and sometimes their reputations," says Rob Frankel, a Los Angeles-based branding expert and author of The Revenge of Brand X. "Both social media and blogging services are like playing with fire: Used properly they can move mountains; used improperly they can blow your legs off."
Existing professionals, such as advertising copywriters or editorial writers, may want to take on the job, but they don't necessarily have the skills, Frankel says. "Becoming a blogger or social media manager isn't as simple as just proclaiming expertise based on some past ad campaign or articles written for a journal. A whole new skill set has to be shown that proves the ability to engage people while building trust for the brand," he says.
In the absence of established certifications or track records, what should you look for when you outsource? Here is Frankel's list:
Accountability. Ask outsources to provide case studies that show the results of their work.
Writing ability. Look for compelling and concise copy, whether posting to social networks or writing a blog.
Sensitivity. Can the outsourcer balance the social nature of the copy with the business's entrepreneurial interest and still maintain credibility and build trust with readers?
If you hire an outsider, look for a company that can work with you to create a social media marketing plan and advise you how to optimize your social channels, Lilore says. Make sure the company is as integrated with your business goals and brand as possible. "They should write the posts in advance and a staff member should vet them. Also, some documentation should be in place in terms of voice and tone, so the [outside] agency staff can stay on brand and on message when communicating through social channels," he says.
Karen E. Klein is a Los Angeles-based writer who covers entrepreneurship and small-business issues. (sourced:bloomberg)
To hire a smart blogger contact at webselevators@gmail.com
Ancora, Gudang Garam, Enseval Putera: Indonesia Equity Preview
Feb28,2011 7:17AM GMT+0530 By Berni Moestafa- Bloomberg
Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.
The Jakarta Composite index climbed 0.1 percent to 3,443.53.
Coal producers: Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 4 percent to $131.71 a metric ton in the week ended Feb. 25, according to the globalCOAL NEWC Index.
PT Bumi Resources (BUMI IJ), Asia’s largest exporter of power-station coal, gained 5.4 percent to 2,925 rupiah and PT Adaro Energy (ADRO IJ), Indonesia’s second-biggest coal mining company, advanced 1 percent to 2,475 rupiah.
PT Ancora Indonesia Resources (OKAS IJ): The producer of ammonium nitrate may invest $50 million to $100 million to buy a mine that produces low-quality coal, Investor Daily Indonesia reported, without saying where it obtained the information. Ancora was unchanged at 300 rupiah.
PT Bank Tabungan Pensiunan Nasional (BTPN IJ): Shareholders approved a plan for a five-for-one stock split to boost trading of the stock, the Indonesian bank said in a statement to the stock exchange. Bank Tabungan Pensiunan declined 2.5 percent to 11,950 rupiah.
PT Enseval Putera Megatrading (EPMT IJ): The pharmaceutical distribution company said it plans to raise 300 billion rupiah ($34 million) selling new shares in a rights offer in March. Enseval may sell as much as 428.6 million new shares at 700 rupiah apiece, it said. Enseval fell 5.3 percent to 900 rupiah when it last traded Feb. 21.
PT Gudang Garam (GGRM IJ): The Indonesian cigarette producer will pay an interim dividend of 400 rupiah a share in March, the company said in a statement in Bisnis Indonesia. Gudang Garam declined 1.2 percent to 36,050 rupiah.
PT International Nickel Indonesia (INCO IJ): Indonesia’s biggest producer of the metal said fourth-quarter net income rose to $108.9 million. That compares with a net income of $59.96 million a year earlier, according to data compiled by Bloomberg News. The stock slid 0.5 percent to 4,975 rupiah.
Tags: PT Ancora Indesia Resources, raw material, coal,PT Bank Tabungan Pensiunan National, PT Adaro Energy Tbk
The Jakarta Composite index climbed 0.1 percent to 3,443.53.
Coal producers: Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 4 percent to $131.71 a metric ton in the week ended Feb. 25, according to the globalCOAL NEWC Index.
PT Bumi Resources (BUMI IJ), Asia’s largest exporter of power-station coal, gained 5.4 percent to 2,925 rupiah and PT Adaro Energy (ADRO IJ), Indonesia’s second-biggest coal mining company, advanced 1 percent to 2,475 rupiah.
PT Ancora Indonesia Resources (OKAS IJ): The producer of ammonium nitrate may invest $50 million to $100 million to buy a mine that produces low-quality coal, Investor Daily Indonesia reported, without saying where it obtained the information. Ancora was unchanged at 300 rupiah.
PT Bank Tabungan Pensiunan Nasional (BTPN IJ): Shareholders approved a plan for a five-for-one stock split to boost trading of the stock, the Indonesian bank said in a statement to the stock exchange. Bank Tabungan Pensiunan declined 2.5 percent to 11,950 rupiah.
PT Enseval Putera Megatrading (EPMT IJ): The pharmaceutical distribution company said it plans to raise 300 billion rupiah ($34 million) selling new shares in a rights offer in March. Enseval may sell as much as 428.6 million new shares at 700 rupiah apiece, it said. Enseval fell 5.3 percent to 900 rupiah when it last traded Feb. 21.
PT Gudang Garam (GGRM IJ): The Indonesian cigarette producer will pay an interim dividend of 400 rupiah a share in March, the company said in a statement in Bisnis Indonesia. Gudang Garam declined 1.2 percent to 36,050 rupiah.
PT International Nickel Indonesia (INCO IJ): Indonesia’s biggest producer of the metal said fourth-quarter net income rose to $108.9 million. That compares with a net income of $59.96 million a year earlier, according to data compiled by Bloomberg News. The stock slid 0.5 percent to 4,975 rupiah.
Tags: PT Ancora Indesia Resources, raw material, coal,PT Bank Tabungan Pensiunan National, PT Adaro Energy Tbk
Port's coal exports to triple
Monday,28 February 2011 by Newcastle Herald
Newcastle's coal-loading capacity could reach 300million tonnes a year, or nearly triple the current amount, in the foreseeable future.
That was the plan unveiled on Thursday by Port Waratah Coal Services, the Rio Tinto-managed company that operates coal terminals at Carrington and on Kooragang Island.
At a Hunter Business Chamber lunch on Thursday, PWCS general manager Graham Davidson said coal companies had signed ‘‘take or pay’’ contracts to ship more than 145million tonnes through its two terminals in 2015, triggering plans to have the port’s fourth, or T4, terminal, operating on Kooragang by 2015.
The BHP-backed Newcastle Coal Infrastructure Group has built stage one of its terminal – the port’s third – on Kooragang, and is expanding its capacity to 53million tonnes a year, on the way to its approved capacity of 66million tonnes.
Mr Davidson said the T4 plans were yet to go to the PWCS board, but he expected to ask for more than $200million in funds to build a T4 first stage capable of handling 29million tonnes a year.
Mr Davidson showed the coal lunch an eight-stage plan for T4 with an eventual capacity of more than 100million tonnes a year.
He said T4 berths would run to within 250metres of the Tourle Street bridge and the fourth loader would run out of berthing space after six stages and PWCS was talking to Newcastle Port Corporation about extra berths.
At full capacity, the four Newcastle terminals would be able to ship more than 300million tonnes a year.
That figure did not include plans by mining figure Nathan Tinkler to put a coal-loader on part of the former steelworks site.
Mr Davidson said the global coal industry’s massive boom showed no signs of slowing.
That was the plan unveiled on Thursday by Port Waratah Coal Services, the Rio Tinto-managed company that operates coal terminals at Carrington and on Kooragang Island.
At a Hunter Business Chamber lunch on Thursday, PWCS general manager Graham Davidson said coal companies had signed ‘‘take or pay’’ contracts to ship more than 145million tonnes through its two terminals in 2015, triggering plans to have the port’s fourth, or T4, terminal, operating on Kooragang by 2015.
The BHP-backed Newcastle Coal Infrastructure Group has built stage one of its terminal – the port’s third – on Kooragang, and is expanding its capacity to 53million tonnes a year, on the way to its approved capacity of 66million tonnes.
Mr Davidson said the T4 plans were yet to go to the PWCS board, but he expected to ask for more than $200million in funds to build a T4 first stage capable of handling 29million tonnes a year.
Mr Davidson showed the coal lunch an eight-stage plan for T4 with an eventual capacity of more than 100million tonnes a year.
He said T4 berths would run to within 250metres of the Tourle Street bridge and the fourth loader would run out of berthing space after six stages and PWCS was talking to Newcastle Port Corporation about extra berths.
At full capacity, the four Newcastle terminals would be able to ship more than 300million tonnes a year.
That figure did not include plans by mining figure Nathan Tinkler to put a coal-loader on part of the former steelworks site.
Mr Davidson said the global coal industry’s massive boom showed no signs of slowing.
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