INDIA INDUSTRY UPDATES ON 17TH DEC, 2012


INDIA INDUSTRY UPDATES
ON 17TH  DEC, 2012
STEEL, METALS AND MINING
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COAL
Government advises power companies to import 46 million tons coal in 2012-13
Government has advised power generating utilities to import 46 million tonnes of coal in the current fiscal to bridge the gap between demand for coal and its domestic supply, power minister Jyotiraditya ScindiaBSE -4.96 % said on Thursday.

The total requirement of coal in 2012-13 has been calculated as 500 million tonnes including 476 million tonnes indigenous coal and 24 million tonnes imported coal, the minister said in Lok Sabha.

The total domestic coal availability from Coal India LtdBSE -0.59 %, Singareni Colliery Company Ltd and captive mines is only 407 million tonnes. Coal India Limited has decided to acquire coal resources abroad to bridge the increasing demand supply gap and enhance energy security of the country, he said.

The thrust areas of this overseas venture are to acquire thermal coal assets, undertake their exploration, operate the mines and import the produce to India for supply to thermal power plants, he said.

Also against a gas requirement of around 85 million metric standard cubic meter per day(MMSCMD) at 90% plant load factor, 35 MMSCMD gas is being supplied to the gas-based power stations in the country, he said.
(Economic Times)
IRON ORE
Indian iron ore mining mess - CAG pegs loss at USD 3 billion

The Comptroller and Auditor General of India has almost endorsed the Karnataka Lokayukta report on illegal iron ore mining and pegged the total loss due to illegal exports of ore at INR 15,245 crore from 2003 to 2010.

Besides, the CAG has estimated INR 3414.45 crore loss to the State Exchequer due to compliance deficiencies. However, unlike the Lokayukta report, the supreme audit institution of India has not directly indicted any public servant.

In its report on Controls and Systems for Sustainable Mining in Karnataka, tabled in the Legislative Assembly on December 12th, the CAG said that delay in framing the Karnataka Minerals Rules till April 2011 resulted in the absence of controls on transportation, leading to illegal mining and export. This caused huge revenue loss to the exchequer.

The report said that “This is evidenced from the statement made by the CM on the floor of the Assembly on July 9th 2010, wherein it was stated that as against the permitted quantity of 4.7043 million metric tonnes of iron ore, a quantity of 77.534 million metric tonne was exported. This resulted in as much as 30.491 million metric tonnes of iron ore valued at INR 15,245 crore being exported without valid permits from 2003-04 to 2009-10.”

The then Lokayukta Justice Mr Santosh Hegde, in his report on illegal mining submitted to the State government in 2010, had estimated the total loss at INR 16,085 crore between 2006-07 and 2009-10. He had indicted the then chief minister Mr BS Yeddyurappa and the then ministers from Bellary.

While the Lokayukta investigated issues related to illegal mining of iron ore, the CAG has conducted the performance appraisal of the controls and systems in the mining sector. This apart, the CAG has estimated that the loss caused through damages to the State highways, major district roads and bridges due to transportation of iron ore at INR 1,709 crore. It has also found considerable reduction in the growth rate of population of cattle, as per the 18th census of livestock in Bellary.
(Steel Guru)
Goa to export ore fines at pit heads

With the aim of cleaning up the huge dumps at various mine sites, the Goa government plans to export ore dumped at pit heads, it is learnt.

The decision has been taken at a time when the state is facing a nearly 30 per cent revenue deficit due to the ban on iron ore mining.

Goa reportedly has huge ore dumps, some of six-decade vintage. Exports are likely to start within three to four months after fulfilling all legal formalities. The state's Department of Mining and Geology has been instructed to prepare a plan for exporting the ore fines.

(Exim India)

Russian iron ore exports down by 4.1pct in Jan-Oct

State Statistics Committee of Russia, in the January to October period of the current year Russia's exports of iron ore decreased by 4.1% compared to the same period of last year to 21.022 million tonne, worth a total of USD 2.1 billion, down 17.3% YoY.

In the January to October period, Russian exports of coal increased by 18.2% YoY to 107.21 million tonne, worth a total of USD 10.882 billion, up 18.4% YoY.

In the given period, Russia exported 1.9 million tonne of coke and semi coke, up 25.4% YoY, worth a total of USD 470 million, up 2.2% YoY.
(Exim India)
CEMENT
AGRICULTURE
Edible nut imports on the rise

AN increase in affordability driven by a rise in disposable incomes, coupled with awareness of nutritional benefits, is driving Indians to consuming more nuts, especially high-value cashew and almonds.

This can be gauged from the rising imports of raw cashew nuts and almonds into the country. Over the last three years, shipments have grown 7 per cent (raw cashew) and 36 per cent (almonds) by volume.

India imported about 8.09 lakh tonnes (lt) of raw cashew nuts, valued at Rs 5,337.76 crore, in 2011-12, up from 5.29 lt in 2010-11 and 7.55 lt in 2009-10. The information was provided recently to the Rajya Sabha by Dr (Ms) D. Purandeswari, Minister of State for Commerce and Industry.

India imports raw cashew nuts largely from Ivory Coast, Guinea-Bissau, Benin, Ghana, Tanzania, Indonesia, Gambia, Guinea, Mozam-bique and Senegal.

(Exim India)

FERTILISERS
ENERGY 
SHIPPING, TRADE AND TRANSPORT
Ship supply grew faster in 2011

GLOBAL shipping volumes grew 4 per cent through 2011 to a record 8.7 billion tonnes even as surplus capacity caused a sharp drop in prices, a United Nations think tank said.

"World ship supply expanded much faster (than demand), at a rate of 10 per cent, reaching for the first time a total of 1.5 billion deadweight tons," the UN's Conference on Trade and Development’s (UNCTAD) Review of Maritime Transport 2011 explained.

The indicators play a significant role as about 90 per cent of global trade is carried out by sea, UNCTAD noted.

The transportation cost of a 20-foot container from Shanghai to northern Europe dipped from $ 1,789 in 2010 to $ 881 in 2011, the report calculated. Over the same period, the average cost of shipping a 40-foot container from Shanghai to the US West Coast plunged from $ 2,308 to $ 1,667, according to the report.

Offsetting the trend, ports in developing countries had a far greater share in global shipping than before. These ports loaded 60 per cent and unloaded 57 per cent of world seaborne trade by volume, the report said.

Meanwhile, the number of shipping companies on average dropped by nearly 23 per cent between 2004 and 2011, thereby easing the competition.

The size of the largest ship deployed nearly doubled during the period.

(Exim India)




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