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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scrambles to fill a shortage of steelmaking ingredients, two government sources said on Tuesday.
The proposal to scrap levies ranging from 2.5% to 7.5% in the world’s second biggest producer of crude steel comes ahead of the national budget for 2023/24 set to be unveiled in February.
The ministry’s plan to scrap the tax on limestone, manganese ore, steel scrap, graphite electrodes, chrome ore, and ferro nickel, in addition to coking coal, has been sent to the finance ministry, said the sources, who spoke on condition of anonymity.
“The idea is to import raw materials, whichever is available, at the lowest possible import duty,” said one of the sources. “We have asked for a waiver, complete removal.”
If agreed, the tax waiver on the raw materials would cost about 37 billion rupees ($449 million), the sources said.
Spokespersons of the steel and finance ministries did not immediately reply to an email from Reuters to seek comment.
Imports of coking coal meet about 85% of India’s annual requirements of about 50 million to 55 million tonnes.
Australia is India’s top supplier, and a free trade pact between New Delhi and Canberra that takes effect from Dec. 29 allows duty-free imports of coking coal by India.
Stung by a sharp rise in global prices of coking coal, a key raw material in steelmaking, India has been aiming to diversify its purchases.
Indian steelmakers’ profits declined this year as global demand slowed and the government slapped an export tax on some steel products.
Last month, India scrapped export tax on some steel grades, but industry officials say it will take time to claw back some of the business lost in traditional export markets, such as Europe.
Source: Reuters
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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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