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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Minerals Council of Australia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
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