We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
|
|
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
|
|
|
Showing 5766 to 5770 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
|
| |
| |
|
