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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, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
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- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
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- Siam City Cement PLC, Thailand
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- Planning Commission, India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
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- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
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- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
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- Wilmar Investment Holdings
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
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- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- The University of Queensland
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- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
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