We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
|
|
|
Showing 5686 to 5690 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Australian Coal Association
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
|
| |
| |
|
