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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, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Commonwealth Bank - Australia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
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