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