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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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Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Economic Council, Georgia
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