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