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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Planning Commission, India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
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