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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
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- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Australian Coal Association
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
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