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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Planning Commission, India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- The University of Queensland
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
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