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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, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
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