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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
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