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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, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
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- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
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- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
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- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
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- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
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- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Bhatia International Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- White Energy Company Limited
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
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