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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Parliament of New Zealand
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- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
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- London Commodity Brokers - England
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
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- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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- ASAPP Information Group - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
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- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
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