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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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Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
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- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
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- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
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- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
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- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- The University of Queensland
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
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