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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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Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
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