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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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Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
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- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
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