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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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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
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