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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 $20,000 as demurrage charges. For example, Sesa Goa Ltd, a leading exporter of iron ore from India, has had one ship at the New Mangalore Port since July 30 for the lack of iron ore.
“We have already seen the diversion of four ships from ports in Karnataka due to the ban on exports. Port officials are not allowing us to load the cargo because of the ban orders,” he said. Presently, 600,000 tonnes of iron ore is lying at the New Mangalore Port, 300,000 tonnes at Belekeri port and 100,000 tonnes at Karwar port.
According to officials at New Mangalore Port Trust (NMPT), the only major port in Karnataka, the iron ore cargo movement has seen considerable drop in the last four months due to intermittent ban on movement of iron ore cargo by road by the deputy commissioners of Dakshina Kannada, Udupi and Hassan districts.
Apart from the economic loss, the ban on iron ore exports is also likely to cause environmental issues. The mining companies are presently stocking over 6 million tonnes of iron ore fines at their mines. “As we cannot store fines for long, it may get into the atmosphere through air and water leading to greater damage to the environment,” Shantesh Gureddi, chairman, FIMI, Southern Region, said.
Most importantly, a huge number of persons employed directly and indirectly will be thrown out of jobs. At least 5,000 people are directly employed in mining operations and another 50,000 in ancillary works. Over 40,000 trucks are engaged on a daily basis to transport the ore.
“If the state government does not revoke its order, the industry will be forced to file a case in the court to get it revoked as the government does not have any power to impose ban,” Gureddi said.( 1 INR = 0.0218771 USD 1 USD = 45.7100 INR)
Source: Business-Standard
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
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