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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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Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
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- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Economic Council, Georgia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
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