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