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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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Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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