Genesis Power to increase Indonesian imports?

摘要

New Zealand's Genesis Power is likely to import increased volumes of coal through Tauranga port to its Huntly power station - sufficient coal, in fact, to trigger ABN Amro into lifting its investment recommendation on the listed port to an outright buy. In a research note issued to clients recently, the broker said that current talks between Genesis and Tranz Rail Holdings may lead to between 0.5 million to 1 million mt of imported Indonesian coal being transported annually to the Huntly station. It also scotched market fears that the coal deal would just last a short length of time. It is confident that these levels will be sustained, as Genesis will use these Indonesian imports to keep up the price pressure on domestic producers and cap the price of the New Zealand coal it uses.