Sunday, 13 Nov 2011
ET reported that shipments of iron ore from India's largest port, Mormugao in Goa state, fell by a quarter in October to 2.83 million tonnes as a slump in global prices and high costs made shipments unprofitable.
Exports of iron ore from the port on India's west coast fell 15.4% to 14.71 million tonnes in the first seven months of the fiscal year.
A Mormugao Port Trust source said that "Export of iron ore is down due to internal transport problems as locals are stopping the movement of goods.”
The port is the biggest shipper of the steel making ingredient from India but the Goa state government has made it mandatory for exporters to obtain from the mines department a no objection certificate to ship iron ore.
Total shipments from India were down 24.4% in the first five months of the fiscal year starting April 1 to 28.02 million tonnes as Karnataka state exports have still not resumed despite orders from the Supreme Court in April to lift a ban.
(Sourced from ET)
ET reported that shipments of iron ore from India's largest port, Mormugao in Goa state, fell by a quarter in October to 2.83 million tonnes as a slump in global prices and high costs made shipments unprofitable.
Exports of iron ore from the port on India's west coast fell 15.4% to 14.71 million tonnes in the first seven months of the fiscal year.
A Mormugao Port Trust source said that "Export of iron ore is down due to internal transport problems as locals are stopping the movement of goods.”
The port is the biggest shipper of the steel making ingredient from India but the Goa state government has made it mandatory for exporters to obtain from the mines department a no objection certificate to ship iron ore.
Total shipments from India were down 24.4% in the first five months of the fiscal year starting April 1 to 28.02 million tonnes as Karnataka state exports have still not resumed despite orders from the Supreme Court in April to lift a ban.
(Sourced from ET)
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