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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- Parry Sugars Refinery, India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
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