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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, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Australian Coal Association
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
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