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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, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- PTC India Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
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