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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- VISA Power Limited - India
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