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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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- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
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