Despite being labelled favourites after their scorching form leading up to the tournament, Ricky Ponting's Australians are not taking success for granted in the forthcoming ICC Champions Trophy.

Ponting, who took over the Australian one-day captaincy from Steve Waugh last winter, believes the 12-team tournament starting Thursday is going to be very competitive.

"A lot of the sides are evenly matched," he said, minutes after the team's arrival in Colombo. "New Zealand showed they can beat us last winter at home, India are always dangerous and England are now playing some good cricket."

Australia will also be wary of the fact they were knocked out early in the two previous `mini-world cups' in 1998 and 2000.

"We're just focusing on the first game against New Zealand at the moment," he said. "We have played in this tournament twice and lost both to India."

However, although understated, the self-confidence was palpable: "We know that if we play to our best then we are going to be very competitive."

Coach John Buchanan – who dramatically described his role as "taking the team into areas they have not been before" – was also confident, claiming his side was ready to meet the challenge posed by the shrewd Kiwi's.

Referring to last winter, when Australia failed to qualify for the final of the Charlton and United one-day series, he said: "New Zealand played to a good game plan but I think we will be able to handle it a lot better this time."

Australia will play a practice match against the West Indies on Wednesday before their first game on Sept 15.

Ponting was relieved to have a break: "After four games in seven days and a nightmarish journey from Kenya, we're lucky to have a couple of days off before the New Zealand game."

Looking back on the Kenya tour, Ponting was disappointed that the tri-series final against Pakistan at Nairobi on Saturday was washed out, denying them a deserved victory after four crushing wins.

"We performed well in Kenya after a long lay off and it was a disappointing end to what might have been a good game," he said.

The two major plus points of that short tour were the reduced girth and revitalised enthusiasm of leg-spinner Shane Warne, as well as the increasingly consistent fast bowling of blonde haired speed merchant Brett Lee.

"Brett (Lee) was the shining light of the Kenya trip," said Ponting. "He remained genuinely quick but was more accurate."

"Shane (Warne) has lost 10-12 kilos and is fitter than he has ever been in his cricket career. Moreover, he is bowling well and turning the ball."

© CricInfo