COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...


Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...


Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin  online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...


Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...


Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia. KEPCO signed a 400 million Austra ...


   1146 1147 1148 1149 1150   
Showing 5736 to 5740 news of total 6871
News by Category
Popular News
 
Total Members : 28,697
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Tata Power - India
  • Lafarge - France
  • Orica Australia Pty. Ltd.
  • Samsung - South Korea
  • Asia Cement - Taiwan
  • ANZ Bank - Australia
  • Indogreen Group - Indonesia
  • CoalTek, United States
  • globalCOAL - UK
  • KPMG - USA
  • Therma Luzon, Inc, Philippines
  • Kepco SPC Power Corporation, Philippines
  • Kaltim Prima Coal - Indonesia
  • DBS Bank - Singapore
  • Wood Mackenzie - Singapore
  • CNBM International Corporation - China
  • Manunggal Multi Energi - Indonesia
  • Wilmar Investment Holdings
  • Mercator Lines Limited - India
  • CCIC - Indonesia
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • World Bank
  • PowerSource Philippines DevCo
  • Adaro Indonesia
  • Heidelberg Cement - Germany
  • Mercuria Energy - Indonesia
  • Barasentosa Lestari - Indonesia
  • Credit Suisse - India
  • Energy Link Ltd, New Zealand
  • Peabody Energy - USA
  • Indorama - Singapore
  • Toyota Tsusho Corporation, Japan
  • Bharathi Cement Corporation - India
  • ICICI Bank Limited - India
  • Agrawal Coal Company - India
  • London Commodity Brokers - England
  • Japan Coal Energy Center
  • Goldman Sachs - Singapore
  • Minerals Council of Australia
  • Mechel - Russia
  • Gujarat Sidhee Cement - India
  • Asmin Koalindo Tuhup - Indonesia
  • Kobexindo Tractors - Indoneisa
  • Binh Thuan Hamico - Vietnam
  • Samtan Co., Ltd - South Korea
  • Shree Cement - India
  • Aboitiz Power Corporation - Philippines
  • Gresik Semen - Indonesia
  • GB Group - China
  • Alfred C Toepfer International GmbH - Germany
  • Vizag Seaport Private Limited - India
  • Sojitz Corporation - Japan
  • Inco-Indonesia
  • Vitol - Bahrain
  • Cardiff University - UK
  • ING Bank NV - Singapore
  • UBS Singapore
  • Parliament of New Zealand
  • Ministry of Mines - Canada
  • Inspectorate - India
  • Billiton Holdings Pty Ltd - Australia
  • Vedanta Resources Plc - India
  • Riau Bara Harum - Indonesia
  • PetroVietnam Power Coal Import and Supply Company
  • Karbindo Abesyapradhi - Indoneisa
  • Intertek Mineral Services - Indonesia
  • AsiaOL BioFuels Corp., Philippines
  • GVK Power & Infra Limited - India
  • EMO - The Netherlands
  • Idemitsu - Japan
  • Romanian Commodities Exchange
  • Karaikal Port Pvt Ltd - India
  • SN Aboitiz Power Inc, Philippines
  • Merrill Lynch Commodities Europe
  • Pipit Mutiara Jaya. PT, Indonesia
  • Cebu Energy, Philippines
  • Tata Chemicals Ltd - India
  • Baramulti Group, Indonesia
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Ernst & Young Pvt. Ltd.
  • Platou - Singapore
  • Straits Asia Resources Limited - Singapore
  • Berau Coal - Indonesia
  • Bukit Makmur.PT - Indonesia
  • Sree Jayajothi Cements Limited - India
  • PLN Batubara - Indonesia
  • Sucofindo - Indonesia
  • Global Coal Blending Company Limited - Australia
  • Australian Commodity Traders Exchange
  • Marubeni Corporation - India
  • Central Electricity Authority - India
  • Siam City Cement - Thailand
  • San Jose City I Power Corp, Philippines
  • Kapuas Tunggal Persada - Indonesia
  • Bahari Cakrawala Sebuku - Indonesia
  • TeaM Sual Corporation - Philippines
  • IMC Shipping - Singapore
  • Madhucon Powers Ltd - India
  • Siam City Cement PLC, Thailand
  • Sindya Power Generating Company Private Ltd
  • Infraline Energy - India
  • NTPC Limited - India
  • Price Waterhouse Coopers - Russia
  • Attock Cement Pakistan Limited
  • The University of Queensland
  • Carbofer General Trading SA - India
  • GAC Shipping (India) Pvt Ltd
  • Kartika Selabumi Mining - Indonesia
  • The State Trading Corporation of India Ltd
  • Coal and Oil Company - UAE
  • Maruti Cements - India
  • TNB Fuel Sdn Bhd - Malaysia
  • Maybank - Singapore
  • Bulk Trading Sa - Switzerland
  • Bukit Asam (Persero) Tbk - Indonesia
  • Shenhua Group - China
  • TRAFIGURA, South Korea
  • HSBC - Hong Kong
  • CIMB Investment Bank - Malaysia
  • Leighton Contractors Pty Ltd - Australia
  • Semirara Mining and Power Corporation, Philippines
  • VISA Power Limited - India
  • Malabar Cements Ltd - India
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Holcim Trading Pte Ltd - Singapore
  • Rashtriya Ispat Nigam Limited - India
  • India Bulls Power Limited - India
  • TANGEDCO India
  • Formosa Plastics Group - Taiwan
  • Timah Investasi Mineral - Indoneisa
  • Rudhra Energy - India
  • Metalloyd Limited - United Kingdom
  • Jindal Steel & Power Ltd - India
  • Bank of America
  • Permata Bank - Indonesia
  • Chamber of Mines of South Africa
  • Indian Energy Exchange, India
  • Globalindo Alam Lestari - Indonesia
  • JPower - Japan
  • bp singapore
  • Global Business Power Corporation, Philippines
  • Maersk Broker
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Sarangani Energy Corporation, Philippines
  • Neyveli Lignite Corporation Ltd, - India
  • Merrill Lynch Bank
  • Meenaskhi Energy Private Limited - India
  • Arutmin Indonesia
  • IBC Asia (S) Pte Ltd
  • Ince & co LLP
  • PNOC Exploration Corporation - Philippines
  • Indika Energy - Indonesia
  • The Treasury - Australian Government
  • Chettinad Cement Corporation Ltd - India
  • KEPCO - South Korea
  • McKinsey & Co - India
  • Ambuja Cements Ltd - India
  • Mitsubishi Corporation
  • Eastern Coal Council - USA
  • Platts
  • South Luzon Thermal Energy Corporation
  • Mjunction Services Limited - India
  • Altura Mining Limited, Indonesia
  • Bukit Baiduri Energy - Indonesia
  • Latin American Coal - Colombia
  • Kideco Jaya Agung - Indonesia
  • Freeport Indonesia
  • Gupta Coal India Ltd
  • Jorong Barutama Greston.PT - Indonesia
  • Argus Media - Singapore
  • Thriveni
  • SUEK AG - Indonesia
  • The India Cements Ltd
  • Thomson Reuters GRC
  • Sakthi Sugars Limited - India
  • APGENCO India
  • Electricity Authority, New Zealand
  • Dalmia Cement Bharat India
  • Vijayanagar Sugar Pvt Ltd - India
  • Surastha Cement
  • Tamil Nadu electricity Board
  • White Energy Company Limited
  • Core Mineral Indonesia
  • TNPL - India
  • Maharashtra Electricity Regulatory Commission - India
  • Banpu Public Company Limited - Thailand
  • Lanco Infratech Ltd - India
  • TGV SRAAC LIMITED, India
  • Petron Corporation, Philippines
  • Videocon Industries ltd - India
  • Cargill India Pvt Ltd
  • Coal India Limited
  • Indo Tambangraya Megah - Indonesia
  • McConnell Dowell - Australia
  • SRK Consulting
  • Coaltrans Conferences
  • LBH Netherlands Bv - Netherlands
  • Thailand Anthracite
  • Russian Coal LLC
  • Antam Resourcindo - Indonesia
  • Deloitte Consulting - India
  • GNFC Limited - India
  • Arch Coal - USA
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Directorate Of Revenue Intelligence - India
  • Bhoruka Overseas - Indonesia
  • Thermax Limited - India
  • World Coal - UK
  • Energy Development Corp, Philippines
  • SMG Consultants - Indonesia
  • Jatenergy - Australia
  • Ministry of Finance - Indonesia
  • Savvy Resources Ltd - HongKong
  • Clarksons - UK
  • Runge Indonesia
  • Petrosea - Indonesia
  • Malco - India
  • GHCL Limited - India
  • SASOL - South Africa
  • Qatrana Cement - Jordan
  • Fearnleys - India
  • IHS Mccloskey Coal Group - USA
  • Kalimantan Lumbung Energi - Indonesia
  • Parry Sugars Refinery, India
  • Simpson Spence & Young - Indonesia
  • EIA - United States
  • Global Green Power PLC Corporation, Philippines
  • Ind-Barath Power Infra Limited - India
  • Britmindo - Indonesia
  • Kohat Cement Company Ltd. - Pakistan
  • MS Steel International - UAE
  • International Coal Ventures Pvt Ltd - India
  • Africa Commodities Group - South Africa
  • Moodys - Singapore
  • Electricity Generating Authority of Thailand
  • Cosco
  • Bayan Resources Tbk. - Indonesia
  • Mintek Dendrill Indonesia
  • ASAPP Information Group - India
  • Georgia Ports Authority, United States
  • Renaissance Capital - South Africa
  • Bank of China, Malaysia
  • Indian Oil Corporation Limited
  • Humpuss - Indonesia
  • Gujarat Mineral Development Corp Ltd - India
  • Geoservices-GeoAssay Lab
  • Directorate General of MIneral and Coal - Indonesia
  • Bhushan Steel Limited - India
  • Gujarat Electricity Regulatory Commission - India
  • Singapore Mercantile Exchange
  • Economic Council, Georgia
  • Glencore India Pvt. Ltd
  • Anglo American - United Kingdom
  • ACC Limited - India
  • J M Baxi & Co - India
  • PTC India Limited - India
  • Coeclerici Indonesia
  • Edison Trading Spa - Italy
  • Cigading International Bulk Terminal - Indonesia
  • Planning Commission, India
  • Medco Energi Mining Internasional
  • Miang Besar Coal Terminal - Indonesia
  • Commonwealth Bank - Australia
  • Makarim & Taira - Indonesia
  • IEA Clean Coal Centre - UK
  • U S Energy Resources
  • Uttam Galva Steels Limited - India
  • Petrochimia International Co. Ltd.- Taiwan
  • BRS Brokers - Singapore
  • PLN - Indonesia
  • Jaiprakash Power Ventures ltd
  • Bhatia International Limited - India
  • Barclays Capital - USA
  • KPCL - India
  • Aditya Birla Group - India
  • Total Coal South Africa
  • Reliance Power - India
  • Rio Tinto Coal - Australia
  • Xstrata Coal
  • Australian Coal Association
  • Xindia Steels Limited - India
  • Bangladesh Power Developement Board
  • BNP Paribas - Singapore
  • Maheswari Brothers Coal Limited - India
  • SGS (Thailand) Limited
  • Ceylon Electricity Board - Sri Lanka
  • Grasim Industreis Ltd - India
  • Krishnapatnam Port Company Ltd. - India
  • SMC Global Power, Philippines
  • GN Power Mariveles Coal Plant, Philippines
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Borneo Indobara - Indonesia
  • Eastern Energy - Thailand
  • Thai Mozambique Logistica
  • Interocean Group of Companies - India
  • Noble Europe Ltd - UK
  • CESC Limited - India
  • Deutsche Bank - India
  • Pendopo Energi Batubara - Indonesia
  • IOL Indonesia
  • Indonesia Power. PT
  • Larsen & Toubro Limited - India
  • PetroVietnam
  • Adani Power Ltd - India
  • Pinang Coal Indonesia
  • RBS Sempra - UK
  • Thiess Contractors Indonesia
  • Standard Chartered Bank - UAE
  • Bangkok Bank PCL
  • Sical Logistics Limited - India
  • Coal Orbis AG
  • Cement Manufacturers Association - India
  • Coalindo Energy - Indonesia
  • Power Finance Corporation Ltd., India
  • Enel Italy
  • Ministry of Transport, Egypt
  • Meralco Power Generation, Philippines
  • MEC Coal - Indonesia
  • Panama Canal Authority
  • Semirara Mining Corp, Philippines
  • NALCO India
  • Trasteel International SA, Italy
  • UOB Asia (HK) Ltd
  • Mitsui
  • Tanito Harum - Indonesia
  • European Bulk Services B.V. - Netherlands
  • Essar Steel Hazira Ltd - India
  • WorleyParsons
  • Central Java Power - Indonesia
  • Port Waratah Coal Services - Australia
  • Cemex - Philippines
  • Orica Mining Services - Indonesia
  • Kobe Steel Ltd - Japan
  • Sinarmas Energy and Mining - Indonesia
  • Indonesian Coal Mining Association
  • Posco Energy - South Korea
  • Indian School of Mines
  • Vale Mozambique
  • KOWEPO - South Korea
  • Asian Development Bank
  • GMR Energy Limited - India
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Independent Power Producers Association of India
  • JPMorgan - India
  • Star Paper Mills Limited - India
  • ETA - Dubai
  • OCBC - Singapore
  • Iligan Light & Power Inc, Philippines
  • New Zealand Coal & Carbon
  • Kumho Petrochemical, South Korea
  • Salva Resources Pvt Ltd - India
  • Oldendorff Carriers - Singapore
  • Mitra SK Pvt Ltd - India
  • Coastal Gujarat Power Limited - India
  • OPG Power Generation Pvt Ltd - India