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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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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
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- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
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- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
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- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
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- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
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- Cement Manufacturers Association - India
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- Latin American Coal - Colombia
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- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
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- AsiaOL BioFuels Corp., Philippines
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- Wood Mackenzie - Singapore
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- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
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- Electricity Authority, New Zealand
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- Romanian Commodities Exchange
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- Power Finance Corporation Ltd., India
- Economic Council, Georgia
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- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
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- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
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- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
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- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
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- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
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