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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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- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
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