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the.frack

6,562 Posts.

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02/01/15

17:36

Post #: 14529448
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Originally posted by sus ↑

May be because of this.....as I said government is in desperate mode.

Taken from "MIN and AGO" thread,

The Pilbara Ports Authority has thrown another small bone to the State's mid-tier iron ore exporters, saying it will freeze port fees and tariffs for at least 18 months.

PPA said yesterday the decision was made after consultation with "senior figures in Government" and in response to the "challenging market conditions being experienced by all commodity shippers".

It will apply to WA's two major iron ore export ports at Port Hedland and Dampier.

The fee freeze comes days after the State Government announced a 50 per cent royalty holiday for the mid-tier iron ore producers in response to the sustained falls in the price of the steelmaking commodity, which is threatening the viability of all bar Rio Tinto and BHP Billiton's Pilbara operations.

Industry sources say Port Hedland's fees and charges have for some time been the subject of disquiet from smaller iron ore producers. That was exacerbated after Port Hedland predicted a net profit of $100.9 million for this financial year, and reported an economic return on assets of almost 30 per cent in 2013-14, above the 10.7 per cent return generated at Fremantle Port.

State Government policy is to take 65 per cent of Port Hedland's profit into general revenue.

It is understood the freeze will apply to a range of fees and tariffs, including tonnage, piloting and security fees charged to shipping companies. It is believed the hold will also apply to wharfage, ship loading, facility charges and berthage costs charged to mid-tier exporters from Port Hedland's Utah Point facility.

The PPA did not put a figure on the cost of the move but had already flagged 3 per cent increases in fees this year at Port Hedland. Based on its expected revenue of $357.4 million for 2014-15, a 3 per cent revenue hike would be worth about $11 million.

It is understood the major beneficiaries are likely to be Utah Point's main customers, Atlas Iron and Mineral Resources.

Port Hedland's major exporters, BHP and Fortescue, own and operate their berths and ship- loading facilities while Atlas Iron and Mineral Resources pay to use of Utah Point.

Utah Point had income of $140 million on throughput of 18.7 million tonnes last financial year. Port Hedland as a whole booked revenue of $214.9 million.

http://au.news.yahoo.com/thewest/business/a/25843536/miners-get-port-fee-freeze/

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and from the FRACKSTER REPORT fms was up and running with all guns firing today speculation is abounding to where this miner minor may end up LOL

RTA Price at posting: 14.5¢ Sentiment: Hold Disclosure: Not Held

FMS Price at posting: 1.9¢ Sentiment: Hold Disclosure: Held
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