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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
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