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