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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
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