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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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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- PTC India Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
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