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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- CNBM International Corporation - China
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Planning Commission, India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
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