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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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- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- The University of Queensland
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
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