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

Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...


Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...


Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...


Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...


Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...


   1151 1152 1153 1154 1155   
Showing 5761 to 5765 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 ...

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