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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
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