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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
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