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Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
 Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export of iron ore as well as suspension of permits to transport iron ore for export from the mines, to curb illegal exports, has had a ripple effect in the state, as reported by Business Standard.
The operations of as many as 30 export-oriented units have come to a grinding halt in Karnataka as over 1 million tonnes of iron ore is lying idle at various ports causing a foreign exchange loss of around Rs 300 crore (US$ 65.63 million) in the last one week, Basant Poddar, vice chairman, Federation of Indian Mineral Industries (FIMI), told Business Standard.
In addition to this, the freight loss to the Indian Railways is in the order of Rs 80 crore (US$ 17.501 million) and Rs 40 crore (US$ 8.750 million) for truckers for moving the cargo from the mines to various ports. The loss of wharfage charges for the ports is in excess of Rs 3.5 crore (US$ 0.765 million). Apart from this, the state government itself has seen a loss of Rs 30 crore (US$ 6.563 million) by way of royalty from the mining companies ever since the ban came into effect during the past week.
With effect from July 26, the state banned export of iron ore and stopped issuing permits to transport iron ore for export from July 28 onwards. Presently, 80 mine lease holders are operating in the state and exports about 30 million tonnes of iron ore annually.
Export-oriented units like Mineral Enterprises Ltd, Sesa Goa Limited, Deccan Mining Syndicate Pvt Ltd, KMMI Group, Kuminex Minerals Pvt Ltd, Alfa Exports and Doddannavar Brothers are likely to face penalty from overseas buyers. These companies cannot even sell to the domestic buyers unless they export at least 50 per cent of their total produce in a year, Poddar said.
The companies are losing lakhs of rupees as demurrage charges for holding up ships at the ports. For each day’s delay they have to pay $20,000 as demurrage charges. For example, Sesa Goa Ltd, a leading exporter of iron ore from India, has had one ship at the New Mangalore Port since July 30 for the lack of iron ore.
“We have already seen the diversion of four ships from ports in Karnataka due to the ban on exports. Port officials are not allowing us to load the cargo because of the ban orders,” he said. Presently, 600,000 tonnes of iron ore is lying at the New Mangalore Port, 300,000 tonnes at Belekeri port and 100,000 tonnes at Karwar port.
According to officials at New Mangalore Port Trust (NMPT), the only major port in Karnataka, the iron ore cargo movement has seen considerable drop in the last four months due to intermittent ban on movement of iron ore cargo by road by the deputy commissioners of Dakshina Kannada, Udupi and Hassan districts.
Apart from the economic loss, the ban on iron ore exports is also likely to cause environmental issues. The mining companies are presently stocking over 6 million tonnes of iron ore fines at their mines. “As we cannot store fines for long, it may get into the atmosphere through air and water leading to greater damage to the environment,” Shantesh Gureddi, chairman, FIMI, Southern Region, said.
Most importantly, a huge number of persons employed directly and indirectly will be thrown out of jobs. At least 5,000 people are directly employed in mining operations and another 50,000 in ancillary works. Over 40,000 trucks are engaged on a daily basis to transport the ore.
“If the state government does not revoke its order, the industry will be forced to file a case in the court to get it revoked as the government does not have any power to impose ban,” Gureddi said.( 1 INR = 0.0218771 USD 1 USD = 45.7100 INR)
Source: Business-Standard
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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
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- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- PTC India Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
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