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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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
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