India Exports 2nd Iron Pellet Vessel to South Korea
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India emerged as a major pellet exporter in last fiscal. Indian pellet exports jumped ten-fold from 0.83 MnT in FY16 to 8.26 MnT in FY17. Out of total quantity of pellets exported from India in FY17, share of China was 89% followed by Oman, Japan and Iran.
The prominent countries that India has been exporting pellets in last few years include - China, Oman, Japan, Iran, UAE, South Korea and others.
Last fiscal witnessed single pellet export shipment to South Korea. According to customs data maintained with SteelMint, Jindal SAW exported a vessel named "Castle" carrying 52,500 MT pellets to South Korea from Kandla port in Mar'17.
Following this, India is all set to export its 2nd pellet vessel to South Korea.
The vessel named "MV GH PHAR LAP" loaded with 51,203 MT pellets, sailed from New Mangalore port on 24 May'17. The pellets which were manufactured at KIOCL's pellet plant in Mangalore and traded by Odisha based Kaypee Enterprises.
The pellet export vessel is in line with the issued a tender on May'16 to purchase around 150,000 DMT high grade iron ore fines (Fe 63.5%) from domestic market.The tender was awarded to Kaypee Enterprises. As per the tender, the company was to supply around 150,000 MT iron ore fines (Fe 64% +/-) to KIOCL on FOR basis and the pellet maker will supply back Fe 64% +/- grade pellets at New Mangalore Port basis.
