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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
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