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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- White Energy Company Limited
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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