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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, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
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- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
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