Coal news and updates

NMPT sees fall in profit as UPCL stops generation

June 17: Profits of New Mangalore Port Trust (NMPT) is likely to suffer due to low handling of coal as nearby Udupi Power Corporation Limited (UPCL) has stopped generation recently and has stopped bringing in coal, a senior port official told ICMW.

“A major portion of the coal handling through the port was done for UPCL and as a result of the shutdown; the profits of the port is likely to come down,” he said.

For the financial year 2013-14, NMPT handled almost 5.12 million tons (mt) coal, out of which coal handling for UPCL stood at around 3 mt, he added.

On June 12, 2014, Udupi Power Corporation Ltd (UPCL), the 1200 mw thermal power plant of Lanco Infratech Limited, located in Udupi, stopped power generation because of coal shortage owing to payment dues.