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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- White Energy Company Limited
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
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