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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Marubeni Corporation - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Australian Coal Association
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
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