Recently, around 72,892 tonne of iron ore fines mined in Maharashtra was exported to China from a port in Goa by Prime Minerals Exports. Reports suggest that this is the first shipment of iron ore to China from India since a ban on mining in Goa took effect in October 2012. In October last year, Supreme Court banned mining in Goa after allegations of illegal mining from a federal gove
Tag: export
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Govt plans to reintroduce import duty on oil
Union government plans to reintroduce import duty on crude oil in the forthcoming union budget in order to increase its tax collection and thereby reduce fiscal deficit. However, the adverse impact of such a move would be that it would raise the price of oil and could leave the government with a higher subsidy bill if pump prices are not r
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Shift to export parity pricing may hit OMCs
According to a latest report by Emkay Global Financial Services, the proposed move by finance ministry to calculate refinery gate price based on export parity pricing may adversely affect oil marketing companies (OMCs). Presently, refinery gate price, or the price at which products are transferred from refining to marketing, is calc
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India steel demand may grow faster than global growth
According to industry players, steel demand in India would grow faster than the demand growth across the globe during 2013 because of better economic growth in the country. According to Chandra Shekhar Verma, Chairman of Steel Authority of India (SAIL), India is a "demand centre where steel growth would rise in multiples of 1.2 of gros
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NMPT makes efforts to woo traders
The New Mangalore Port Trust (NMPT) is making efforts to woo importers and exporters from the neighbouring regions. For example, recently the port officials held consultations with exporters from Shimoga region in this regard. The officials urged the importers and exporters of Sh
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NMPT makes efforts to woo traders
The New Mangalore Port Trust (NMPT) is making efforts to woo importers and exporters from the neighbouring regions. For example, recently the port officials held consultations with exporters from Shimoga region in this regard. The officials urged the importers and exporters of Sh
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Hapag-Lloyd proposes to raise shipping charges
From February 1, the shipping rates for containers from the Indian subcontinent would be raised by Hapag-Lloyd. The liner considers to raise the rate by $250 per Twenty Foot Equivalent Unit (TEU) for transporting boxes from the Indian subcontinent - India, Pakistan, Bangladesh and S
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Iran to develop Chabahar port for India
Iran reiterated its commitment to develop Chabahar port to bolster its ties with India. Iran plans to expand the port in five phases and to ramp up its capacity to 20 million tonne by 2020. India's interest in the Iranian port is not only to get a direct access to Central Asia but also to facilitate import of mine
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RBI allows loan recast for mining firms
Agency reports suggest that Reserve Bank of India (RBI) said it does not have any objection for banks restructuring the loan of the mining industry in Goa if they are based on the prescribed guidelines.Ban on mining in the state affected around 22,000 trucks and 400-odd ships in the state transporting ore from different parts of Goa to
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Ennore Port emerging as an automobile export hub
It is learnt that Ennore port, located 25 km north off Chennai, is emerging as an alternative for automobile exports because of capacity constraint in the Chennai port. Marc Nassif, Managing Director, Renault India, said the Ennore port provides adequate capacity and authorities are willing and helpful. The port is said to have shipped 1.04 lakh cars last year and expects this number to rise to 1.6