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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, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Planning Commission, India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
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