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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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Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
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- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- PTC India Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
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