Researchers at Griffith University have new shed light on sophisticated purchasing strategies adopted by Indian power generators previously not known to Australian coal producers.
A study of coal brands and coal prices in Australia, Indonesia and South Africa during a four-year period reveals complex, computational analysis by power generators aimed at maximising delivered units of energy.
“Understanding the purchasing behaviour of power generators may help coal producers in Australia develop marketing strategies to better target coal buyers in India,” Dr Rakesh Gupta, Griffith Business School, said.
“The general perception is that power generation companies buy coal based on the coal prices and the freight alone. Recent discussion has also argued that these companies factor in the coal quality in their purchase decisions.
“But this study finds that they also account for the inter-relationship between the price changes among different coal brands and quality differentials among these coal brands.”
Dr Gupta and Dr Jason West, Department of Accounting, Finance and Economics, analysed weekly coal prices in Australia, Indonesia and South Africa for the period from July 2006 to August 2010. Australia has 54 coal brands, South Africa 58 and Indonesia 56.
They considered the different quality factors of each brands and used a sophisticated technique to convert freight and export prices into prices per unit of delivered energy.
Their findings are outlined in detail in a paper published in Natural Resources Research Journal.
Australia exported 148 million tonnes of thermal coal in 2011. Projections for 2012 indicate an increase of approximately 10%, with an 11% increase forecast for the period to 2017.
“A proper understanding of the importers’ purchasing strategy is crucial to coal producers in Australia,” Dr Gupta said.
“There is clear evidence that Indian power generators base their decisions on thermal coal purchase on the efficient generation of units of power, and not solely on FOB prices or freight.
“We found that power producers either computationally or intuitively account for coal quality gaps, freight prices and generator efficiencies in a mean variance efficient way.
“They buy a mean variance portfolio, effectively a range of investments they hold, which maximises delivered units of energy for the power generator, and simultaneously minimises the variances in the per dollar fluctuations in the delivered units of energy.
“Minimising variance of per dollar energy production controls the risk for power generator in terms of fluctuations in the price of production for power generator.
“Because of price power, generation for a producer is not dependent on one single contract or a series of contracts with one supplier. Price and risk of production over time is determined by the portfolio of coal it purchases.”
Griffith University PhD candidate Sarah Woodland will work with women prisoners on a drama project exploring the Australian female inmate experience from the convict era to today.
The Artistic Director of Griffith’s Theatre Scope initiative (Contemporary and Applied Theatre), Ms Woodland has secured a grant for $19,630 through the Community Partnerships Section of the Australia Council for the Arts.
This will fund the creative development stage of a project she says will use the lens of the past to explore the present. Further funding will be sought in time.
“Beginning in February, I’ll be hosting workshops at the Brisbane Women’s Correctional Centre with the ultimate aim of producing a radio play that can be performed within the prison and broadcast to the general public,” said Ms Woodland, an educator and researcher in applied theatre and participatory arts.
“I’m hoping the creativity of the prisoners will be expressed through activities that build trust, encourage collaboration and culminate in a performance that contains truly authentic voices.”
Ms Woodland’s PhD is in prison theatre, exploring devised drama with women and Indigenous participants in correctional contexts.
She said a pilot project in 2012 had engaged inmates through stories ranging from the infamous Lady Juliana convict ship, better known as “the floating brothel”, to contemporary content arising from prisons including Brisbane’s Boggo Road.
“The women were dedicated, creative and energetic as the project demonstrated different ways of interaction. It allowed them to share ideas and examine their own experiences from the safe distance of drama and history,” Ms Woodland said.
“There is a lot of vulnerability because many have been victims of crime. Involvement in the arts is one way to reconnect with humanity and I hope this new project will create a positive legacy for all involved.”
From 2001-2004, Ms Woodland worked in the UK with the renowned Geese Theatre Company, which specialises in theatre and drama projects in prisons. Griffith University will host the company during the Creative Innovations in Corrections 2014 conference in February.
Griffith’s Theatre Scope program operates within the School of Education and Professional Studies and pursues innovative approaches to education and community engagement through drama, applied theatre and creative arts.
Acting Vice Chancellor, Professor Marilyn McMeniman AM, has led tributes from Griffith University following the death of Dr Margaret Mittelheuser AM DUniv.
Dr Mittelheuser AM DUniv was conferred with the Degree of Doctor of the University by Griffith in 2006, in acknowledgement of an extraordinary career and immense contribution to the Australian community.
She was Founding Patron of Griffith REVIEW, Australia’s leading literary journal.
The first woman to be registered as a stockbroker in Australia, she was a role model for women in the finance industry both at home and abroad.
In 1996 she was made a member of the Order of Australia for her service to the finance industry and the community.
“The Griffith University community was saddened to hear of Margaret’s passing,” Professor McMeniman AM said.
“Her impact on the Queensland community was significant and far-reaching.”
Professor McMeniman AM extended sympathy to Margaret’s sister, Dr Cathryn Mittelheuser AM DUniv.
Margaret MittelheuserAM DUniv was born in Bundaberg and moved to Brisbane in 1945. She was educated at Brisbane Girls’ Grammar School and attended the University of Queensland where she graduated with a Bachelor of Commerce in 1952 and a Bachelor of Arts in 1973.
Pioneer
After completing her university studies, Margaret MittelheuserAM DUniv started work as a clerk in the Department of the Interior.
She was the first female university graduate in the Commonwealth Public Service in Queensland.
An interest in figures and listed stocks on the ASX saw her enter the stock-broking profession in 1952. She moved to Sydney in 1956 and later joined the firm of Bernie Curran before a stint at the broking firm Ralph W. King and Yuill.
She moved back to Brisbane as head of the Research Department for brokers Corrie and Co, but rejoined King and Yuill when they opened a Brisbane office in 1961. Three years later she was admitted to partnership of that firm and became the first woman to be registered as a stockbroker in Australia and among the first in the world.
As head of the Brisbane office, she travelled widely in Queensland and Papua New Guinea to spread the word about financial markets.
In a career spanning more than 50 years, Margaret MittelheuserAM DUniv was involved in all of the main areas of stockbroking including company analyses, Commonwealth and State Government funding and securities, corporatisation and privatisation of government entities, preparation and analysis of prospectus, foreign exchange markets, and investment advice for companies and private companies.
When Margaret MittelheuserAM DUniv retired from ABN Amro Morgans in 2005, she was one of Australia’s longest serving stockbrokers.
Community commitment
In addition to her stockbroking activities, Margaret MittelheuserAM DUniv was always committed to the community. She made significant contributions to a number of arts and charitable organisations including the Queensland Art Gallery, the Girl Guides Association (Qld), the Australian Federation of University Women, and the Board of Trustees of Brisbane Girls’ Grammar School and their Restoration and Building Appeal. She also served as Chair of the Queensland Local Government Superannuation Board, as a Director of the Queensland Philharmonic Orchestra, and as a member of the Queensland Mortgage Secondary Market Board and the Board of Queensland Rail.
She also assisted electricity authorities, local hospital boards and local councils to raise funds, and was actively involved in the development of superannuation fund schemes.
Her contributions to the community have been recognised by numerous awards and honours. In 1986 she was presented with the Olave Medal by the Girl Guides Association (Qld), and in 1996 she was made a member of the Order of Australia for her service to the finance industry and to the community.
In the same year, she received the honorary degree of Doctor of Philosophy from the University of Queensland. In 2003, she was awarded the Centenary Medal for distinguished service to business and commerce.
When subjects like soft power and public diplomacy are discussed in forums, few people have postage stamps in mind, but there has long been a close connection between philately and foreign policy according to Dr Andrew Selth in a recent post for the Lowy Institute’s Interpreter. Read the full article here.
Territorial disputes between an increasingly assertive China and its regional neighbours Japan, South Korea, The Philippines and Vietnam dominated coverage of the region in 2013. Analysts are warning that any of these disputes could potentially escalate into armed conflict in 2014. Professor Andrew O’Neil comments on this issue in an interview with ABC Radio National 3rd January 2014. To listen click here.
The Griffith Institute for Tourism (GIFT), Australia’s largest dedicated centre for world-leading research in this area, opened at Griffith University on January 1.
Its Strategic Research Program will focus on key areas covering business, environment, health and the Asia-Pacific region, aiming to influence development of tourism-related policy and how the tourism industry adopts evidence-based best practice.
“This is a research centre for the 21st century,” Professor Susanne Becken said.
“GIFT is globally significant and will demonstrate the sustained value of research for communities and economies both here and overseas.”
Professor Becken is the inaugural Director of GIFT which includes 25 academic members and three research fellows.
GIFT will build on an established and strong footing in tourism research. Griffith ranked number three in the world in terms of tourism research output for the first decade of the century, and was the world leader in the field of sustainable tourism during this term.
Current research projects include the growth of tourism in China, the impact of Schoolies Week on Gold Coast residents, the conflict between mining and tourism, adapting the tourism industry to deal with climate change and disaster management, attracting international students to holiday in Australia and how tourism operators respond to online criticism.
“These include prime examples of how research can bridge the gap between academia and useable knowledge, bring local issues to light, inform community behaviour, research facts with academic objectivity, leading to practical recommendations,” Professor Becken said.
Professor Becken has just returned from a trip to the Maldives where she presented a series of recommendations to government on the development of tourism policy in the face of severe weather events brought on by climate change.
“GIFT will have an economic and community reach through a vibrant research culture, international collaborations and key partnerships with organisations across the tourism sector.”
GIFT will be officially launched on March 5.
Subject to the passage of legislation, from semester 2, 2014, new higher education students in receipt of Youth Allowance, Austudy or ABSTUDY will be ineligible for the Student Start-up Scholarship (SSS).
Instead, these students will be eligible for equivalent Income Contingent Loans, totalling up to $2,050 per year, to help them pay for up-front costs of study. There will be no interest on these loans, however debts will be indexed by changes in the Consumer Price Index.
Where a student has a Higher Education Loan Program (HELP) debt and takes out an Income Contingent Loan to assist them with the up-front costs of study, repayment will be delayed until after recipients’ HELP debt is completely paid.
Those students who have received a SSS prior to semester 2, 2014 will continue to be eligible to receive the SSS while in receipt of student payments.
These changes are subject amendments being made to the Higher Education Support Act 2003.
If you are confused about these changes or would like more information, please make an appointment with a Welfare and Student Liaison Officer on the campus of your choice.
Griffith’s Gold Coast campus is set to become an even more vibrant centre not only for students with world class teaching and research facilities, but also as a hub for community events, recreation and business.
Vice Chancellor Professor Ian O’Connor has outlined the vision for the campus with the release of a new Masterplan for the 70-hectare Southport site.
“The Gold Coast will have a University that is part of the community in every way,” Professor O’Connor said.
“As the Health and Knowledge Precinct develops around Griffith, the University Hospital and the Parklands site, the university’s boundaries will become permeable with educational, commercial, recreational and cultural pursuits all co-existing.”
More intense development within the existing footprint of the University will potentially double the capacity of the campus as Griffith prepares for long term growth on the Coast.
The next phase of development for the campus includes:a new aquatic centre,campus heart areas for students,a pedestrian spine down the centre of the campus andextra car parking.
Improvements will also be made to the arrival areas for the light rail stations servicing the campus from the middle of 2014.
Professor O’Connor said the new 50-metre swimming pool adjacent to the existing athletics track would be a wonderful asset for the University but also for the city.
The Masterplan was recently approved by the University Council.
The plan includes a multi-level carpark to help ease congestion on and around the highly-popular campus, while taking into account the positive impacts of the light rail will have on student transport needs when it opens in 2014.
Longer term development of the Griffith campus could include other multi-story buildings and further integration with the Health and Knowledge Precinct.
A new $38m Griffith Business building opens on Parklands Drive next year, being the last chapter of the current capital development program that has included the $150m Griffith Health Centre, $22m Learning Commons and library upgrade and a new sciences building, engineering facilities and sports courts.
More than 17,000 students currently attend Griffith’s Gold Coast campus. This is expected to rise to more than 25,000 in the next 10 years.
Check out the MoneySmart Budget Planner to help work out where your money is going and how you can save.
https://www.moneysmart.gov.au/tools-and-resources/calculators-and-tools/budget-planner
The 3D printing technology used by a Gold Coast doctor to help reconstruct a patient’s jaw will be integral to a new degree starting at Griffith University this year.
Back in November it was announced that Dr Dimitrios Nikolarakos had performed an Australian first when he used 3D printing as part of surgery on a 68-year-old man.
However, the potential impact of the process extends well beyond medicine.
Griffith’s new Bachelor of Industrial Design degree, hosted by the university’s Queensland College of Art and School of Engineering, will be based at the Gold Coast campus from Semester 1 this year and will give students a clear advantage in the understanding and use of this world-changing technology.
In fact, it’s already happening. Brisbane’s Kaecee Fitzgerald recently completed her Master of Visual Arts at the QCA and has undertaken a summer position at the Prince Charles Hospital where she is modelling practice hearts for cardiac surgeons.
Meanwhile, the world’s leading exponent of 3D printing, Belgian-based company Materialise, will join Griffith University in hosting an international 3D printing conference on the Gold Coast in March. Highlighting medical and industrial design, it will also feature a 3D printing workshop and a digital fashion show with works by award-winning Malaysian designer, Melinda Looi.
Technically known as Additive Manufacturing, 3D printing operates from a digital blueprint to create three-dimensional, solid objects of virtually any shape. Using plastic, ceramic or metal, products are built in layers fused by laser, UV light or heat.
Students Danica Jeffrey and Jamie Edwards admire Danica’s laser-cut jewellery stand
The process can make components specific to a person or requirement and is expanding globally across multiple platforms, including medicine, science, the military, aerospace, aviation and automotive engineering, architecture, fashion, construction, art and music.
“Rapid development in industrial design practices over the past few years has meant objects are not only being redesigned but completely rethought,” said Griffith’s Industrial Design Program Leader, Dr Jennifer Loy.
“3D printing, where objects can be made individually without the upfront costs of conventional manufacturing, is creating a shift from mass production to mass customisation.
“This means changing practice and demand, the relationship we have to the products that surround us and our ideas of what may be possible.”
Airbus engineers in Europe recently unveiled a radical redesign proposal for an aircraft built from 3D-printed components, while NASA has successfully tested a rocket engine featuring a 3D-printed injector. Harvard University engineers used 3D printing to create one of the smallest batteries ever made, less than a millimetre wide and in layers of material containing lithium-metal-oxide particles.
On the Gold Coast, Dr Nikolarakos removed an 8cm section of his patient’s jaw before replacing it with bone from the man’s leg. The bone was then attached at each end with a titanium plate. A 3D printer produced guides placed on the jaw and leg bones to ensure surgical precision.
Dr Loy said the Bachelor of Industrial Design degree aimed to produce a new breed of graduate skilled in cutting edge industrial design practices and ready to enter the global market.
“Manufacturing is becoming increasingly internationally based and this degree — from day one – will provide graduates with the underlying design understanding, advanced 3D computer modelling, 3D printing as well as traditional production technologies, computer graphic and product skills to work effectively and flexibly in the rapidly emerging, high technology digital design and production environment.”
At the end of the three-year degree, or four years with honours, graduates have the option of completing two more years of study to become an accredited engineer.
For more information, go to: www.griffith.edu.au/industrial-design or contact Dr Jennifer Loy at [email protected]
