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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- Port Waratah Coal Services - Australia
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- Sical Logistics Limited - India
- Goldman Sachs - Singapore
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- Jaiprakash Power Ventures ltd
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- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
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- Economic Council, Georgia
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- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
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- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
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- Gujarat Electricity Regulatory Commission - India
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- VISA Power Limited - India
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- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Riau Bara Harum - Indonesia
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- Lanco Infratech Ltd - India
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- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
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- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
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- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
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- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
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