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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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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
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