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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scrambles to fill a shortage of steelmaking ingredients, two government sources said on Tuesday.
The proposal to scrap levies ranging from 2.5% to 7.5% in the world’s second biggest producer of crude steel comes ahead of the national budget for 2023/24 set to be unveiled in February.
The ministry’s plan to scrap the tax on limestone, manganese ore, steel scrap, graphite electrodes, chrome ore, and ferro nickel, in addition to coking coal, has been sent to the finance ministry, said the sources, who spoke on condition of anonymity.
“The idea is to import raw materials, whichever is available, at the lowest possible import duty,” said one of the sources. “We have asked for a waiver, complete removal.”
If agreed, the tax waiver on the raw materials would cost about 37 billion rupees ($449 million), the sources said.
Spokespersons of the steel and finance ministries did not immediately reply to an email from Reuters to seek comment.
Imports of coking coal meet about 85% of India’s annual requirements of about 50 million to 55 million tonnes.
Australia is India’s top supplier, and a free trade pact between New Delhi and Canberra that takes effect from Dec. 29 allows duty-free imports of coking coal by India.
Stung by a sharp rise in global prices of coking coal, a key raw material in steelmaking, India has been aiming to diversify its purchases.
Indian steelmakers’ profits declined this year as global demand slowed and the government slapped an export tax on some steel products.
Last month, India scrapped export tax on some steel grades, but industry officials say it will take time to claw back some of the business lost in traditional export markets, such as Europe.
Source: Reuters
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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