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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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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Bhushan Steel Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
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