VITAL INDUSTRY UPDATES – 08/07/2015

July 8, 2015 1:13 pm Published by

SAL Heavy Lift vessel discharges two mobile harbour cranes at Chennai Port

 SAL Heavy Lift’s vessel MV ANNEGRET (built 2000 – geared 2×320 mtons SWL, 1 x 200 mtons SWL, combinable up to 700 mtons SWL) arrived at Chennai Port on June 7, 2015 to discharge two mobile harbour cranes loaded at Antwerp. Each crane weighed 298 MT consigned to Roadwings International Pvt. Ltd.

The vessel berthed on arrival at Berth No. SQ-1 and, after preparation by the crew, the discharge operation commenced and was completed on June 8, 2015. Both the cranes were efficiently offloaded by using the ship’s cranes.

The discharge operation was witnessed by Chennai Port Trust Chairman, Deputy Chairman, Commandant, Traffic Manager, Deputy Traffic Manager, Chief Mechanical Engineer, Deputy CME and all HODs. The entire operation was completed smoothly with full support from the Master and crew, Chennai Port Trust and the receivers.

These cranes will be installed at Chennai Port to facilitate the shipping industry.

SAL vessels have been regularly carrying cranes to major and non-major Indian ports which are vital to the development of the country’s growing infrastructure.

SAL Heavy Lift GmbH (a member of the “K” Line Group) is represented in India by Sai Maritime & Management P. Ltd. since 3 decades.

 

 

‘Coal import dependence will reduce if CIL production goes up’

Dependence on coal imports will reduce to up to eight per cent only if Coal India (CIL) meets the production of 1,000 million tonnes by 2020 and if auctioned coal mines are able to achieve their peak capacity in a timely manner, says an ICRA survey.

“Measures are taken by CIL to double output to 1,000 MT by 2020. If CIL is able to sustain seven per cent annual growth in production during FY16 till FY20 and both the schedule II and schedule III coal mines are able to achieve their peak-rated capacity in a timely manner…

“… overall dependence on coal imports could come down significantly to about 8 per cent by FY20,” ICRA Vice President Corporate Sector Girish Kadam told reporters in a conference call.

However, dependence on coal imports is likely to remain high in the near to medium term till FY19 and gradually moderate thereafter, given the overall challenges in coal mine development as well as risk of delays in ramp up of coal output by the allottees of schedule II and III mines, he said.

ICRA, however, pointed out that the sector will face a challenge of over-supply of fuel, which would result into aggressive bidding in e-auction of coal blocks.

“The aggressive bidding in coal e-auction by the winning bidders (with aggregate capacity of 6,000 MW) has led to risk of significant under-recovery and concerns on the viability of their operations,” Kadam said.

 

He further said that the subsidy scheme to encourage the utilisation of stranded gas-based projects allowing R-LNG (re-gasified liquefied natural gas) to initiate interim measure and its viability is dependent upon the fuel’s prevailing price, exchange rate and availability of moratorium period on debt servicing.

 

According to ICRA, the progress on tie-up of new long term power purchase agreements by state discoms, continues to remain slow with sizeable generation capacity having no long term PPAs.

Besides, timelines for implementation of tariff compensation for the affected thermal IPPs remain uncertain.

The extent of average tariff hike based on orders issued by SERCs in Rajasthan, Tamil Nadu and Uttar Pradesh, continues to remain limited at 5 per cent, as against that at 9 per cent for FY15 and 7 per cent for FY14, the report noted.

“The financial position of state discoms in many states continues to remain weak, with large subsidy dependence and limited progress in loss reduction against the regulatory targets in some states and high-debt levels.

 

“Moreover, the build-up of regulatory assets continues to be significant, at around Rs 84,000 crore, for discoms in these three states due to lack of tariff revision for a prolonged period and large delays in true-up of the cost variations,” Kadam added.

 

 

 

NMDC to set up 3 MT/year steel plant in Karnataka

Public sector mining giant NMDC will establish three million tonnes per annum steel plant in Karnataka in collaboration with the state government at an estimated investment of Rs 18,000 crore, Union Steel and Mines Minister Narendra Singh Tomar said here today.

In order to augment the national steel production to 300 million tonnes per annum by 2025, the central government has proposed to set up four mills through NMDC, SAIL and RINL in Chhattisgarh, Odisha, Jharkhand and Karnataka, he added.

 

NMDC would increase production from three million tonnes per annum to six million tonnes at a later stage, he told reporters after presiding over the Parliamentary Consultative Committee Meeting on Steel here.

“NMDC will initially install three million tonnes per annum and scale it up to six million tonnes at a later stage,” he said.

 

Tomar said he would meet Karnataka Chief Minister Siddaramaiah in Belagavi to take forward the initiative of signing the MoU between the government and NMDC for setting up the steel plant in the state.

He said he is satisfied over Siddaramaiah initiating the process on allotting captive iron ore mines to public sector KIOCL Limited.

 

I am satisfied with the Karnataka Chief Minister over the initiation of process in this regard. We have already discussed the issue of allotment of captive mines to KIOCL,” he added.

Tomar said the Geological Survey of India would spend around Rs 166 crore on new exploration during the current fiscal as against Rs 96 crore last year.

The Centre has taken measures to increase exploration of minerals in the country through the Geological Survey of India and Mineral Exploration  ..

 

 

 

 

 

 

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This post was written by Atlantic Admin