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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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Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
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- Xindia Steels Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
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