Several major ports in India have suffered due to a curb on iron ore exports and also on increased duty on outbound shipments. Those most affected are New Mangalore, Ennore,Visakhapatanam, Paradip and Mormugao.
In the last fiscal year, iron ore exports from India dropped to 97.64mt (million tonnes) compared to 117.3mt in 2009/10. In the current fiscal year, iron ore exports are down by a further 28%. Export duty in the same period has gone up by 30%, prompting mining companies to suggest that just 50mt will be exported in this fiscal year, which is also bound to damage port revenue.
Karnataka has completely banned iron ore exports as of July last year, prompted by allegations of illegal mining. A further 45 mines in the state of Goa have also been closed for environmental reasons, further reducing exports.
BC