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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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Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
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