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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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- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
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