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Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
 Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in the country. Under the proposal approved by the Indian government, the royalty rate on iron ore will be increased to 15% from 10%. The government has not yet said when the increase will be implemented.
The higher royalty rates will raise the input costs of Indian steel producers by USD 2-5 per tonne of steel produced, depending on the type and grade of iron ore used. Fitch expects iron ore mining companies in India, which largely supply domestic users, to be able to pass on the increase given tight supply domestically, raising the input costs for both integrated and non-integrated steel producers.
Fitch expects steel producers to be able to pass on their higher costs to consumers because of a likely improvement in steel demand in India. As a result, the higher royalty is unlikely to have a major impact on Indian steel producers' profit margins.
Fitch expects steel demand growth to start to improve from the second half of the fiscal year ending 31 March 2015 (FY15), supported by a pick-up in consumption following rising consumer sentiments and an expected improvement in economic growth. The improving consumer sentiment is reflected in passenger vehicle sales data compiled by the Society of Indian Automobile Manufacturers - sales volumes during June and July 2014 rose from a year earlier, compared with a 6% fall in FY14.
Steel demand in India was weak during FY14 with consumption rising by just 0.6% to 73.9 million tonnes, according to data from Joint Plant Committee, a government body that collects data on the iron and steel industry. This was due to slow growth in the key steel consuming industries of automobiles, infrastructure, construction and engineering.
Iron ore exporters, who already pay high export duties on their shipments, will face slimmer profit margins following the increase in royalty. Iron ore exports (other than pellets) already attract export duty of 30%. India largely exports lower grade iron ore fines. The additional costs while global iron ore prices remain weak will significantly impact the competitiveness of iron ore exports from the country.
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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