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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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Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
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