Iron ore exports from Goa have increased further in Dec’15. Six iron ore vessels have already been exported to China in this month and three more vessels are expected to arrive at berth by mid of Dec’15.
Apart from Vedanta, VM Salgaonkar and Fomento Resources some more parties namely Royalline Resources, Kalinga Export and ACM (Agency Commercial Maritima) have come up for exports this month.
Goa iron ore exports in Dec’15: Vessel Updates
|
Shipper |
Vessel Name |
Qty | Loading Port |
Destination Country |
Status |
| Fomento Resources | Shandong Haisheng | 55,000 | Mormugao | China | Berth |
| VM Salgaonkar | Evertop | 68,000 | Mormugao | Berth | |
| ACM | Fantastic | 55,000 | Mormugao | Berth | |
| Royalline Resources | Sanvi | 72,500 | Mormugao | Berth | |
| Royalline Resources | Ever Mighty | 71,000 | Mormugao | Berth | |
| VM Salgaonkar | Ocean Aphrodite | 80,000 | Mormugao | Berth | |
| Kalinga Export | ER Brighten | 56,000 | Redi | Anchorage | |
| Vedanta | Jin Jia | 87,300 | Mormugao | Expected | |
| VM Salgaonkar | D Skalkeas | 92,000 | Redi | Expected | |
| Total | 636,800 |
Qty in MT
Provisional data
Updated as data received on 11 Dec’15
Source: SteelMint Stats, Customs
Iron ore miners in Goa are worried about the consistent downtrend in global iron ore prices. As per sources miners are still at a break even position but slashing global iron ore prices is a matter of concern. Iron ore produced from Goa is mainly of low grade (Fe 55-58%) and is mainly exported to China.
With spot iron ore prices in China hitting record lows (recorded at USD 37/MT, CFR China yesterday) there are concerns prevailing for feasibility of exports. Price of iron ore fines (Fe 58%) of Indian origin is at USD 30/MT, CFR China. Prices have dropped by USD 8/MT in last one month.
Apart from declining prices in global market, high taxes are also a concern for Goan miners. Export duty on iron ore fines (with Fe content 58% and above) is 30% and 10% for below this grade. Other taxes being levied are-10% Goa permanant fund, 15% Royalty and District Mineral Fund (30% of Royalty).
NMDC exports another iron ore vessel to South Korea
NMDC which exports iron ore under MMTC is up for 4th iron ore export shipment in this fiscal. Vessel named “MV Ocean Happy” carrying 78,000 MT iron ore fines is expected to arrive at berth in Vizag Port today.
Prior to this NMDC has exported 151,700 MT iron ore via two export shipments in Dec’15.
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