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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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Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
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