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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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Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
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- Dalmia Cement Bharat India
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- Chamber of Mines of South Africa
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- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Australian Coal Association
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
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