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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, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- The University of Queensland
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
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