The Daily Fixture/Index List of 31st August, 2012

The Daily Fixture/Index List of 31st August, 2012


FIXTURES -  31/AUG/2012




Baltic Exchange Daily Fixture/Index List 31/08/2012


BDI 703 (DOWN 4) BCI 1172 (UP 3) BPI 735 (DOWN 23)

BSI 857 (UP 2) BHSI 459 (DOWN 4)

Last published BDTI 626 (UP 4) BCTI 581 (DOWN 1)




TIMECHARTER





'Kyzikos' 2007 92710 dwt  dely aps US Gulf 5/15 Sept trip redel
Continent $8000 daily + $240000 bb - Windrose
'Tonic Sea' 2012 92500 dwt  dely aps US Gulf 5/15 Sept trip redel
Continent $8250 daily + $240000 bb - Windrose
'Bali' 2012 82094 dwt  dely aps Nopac 15/18 Sept trip via PG redel PMO
$6000 daily + $375000 - Golden Ocean
'Atalanta' 2010 82094 dwt  dely Nordenham 5/10 Sept trip via Murmansk
redel Rotterdam $6250 daily - Clipper
'Evoikos Theo' 2000 75681 dwt  dely Singapore spot trip via Australia
& Iran redel PMO $10000 daily - cnr
'Garima Prem' 2007 74456 dwt  dely aps Richards Bay 13/17 Sept trip
redel China $6750 daily + $225000 bb - Oldendorff
'Pruva' 1995 74137 dwt  dely SW Pass prompt trip redel Karikal $14500
daily + $450000 bb - D'Amico
'Beks Cenk' 2012 57644 dwt  dely aps Port Hedland early September
trip redel Vietnam $9000 daily + $195000 bb - Aquavita
'K Peridot' 2012 56000 dwt  dely passing Singapore prompt trip via
Indonesia redel India $7500 daily - cnr
'Alpine Trader' 2009 53800 dwt  dely aps EC South America spot  trip
redel Singapore-Japan $11500 daily + $220000 bb - STX Pan Ocean
'Panoria' 2008 53514 dwt  dely Thailand prompt trip via south east
Kalimantan redel China $5600 daily - Klaveness - 30/08>

PERIOD






'Q Arion' 2011 82188 dwt  dely Krishnapatnam 3/5 Sept 23/25 months
trading redel worldwide $9500 daily - Cargill

ORE





'Zosco Qingdao' 2011 170000/10 Port Hedland/Qingdao 12/16 Sept $7.00
fio scale/30000shinc - FMG
'Hyundai Trust' 2011 160000/10 Dampier/Qingdao 14/18 Sept $7.15 fio
scale/30000sc - Rio Tinto
'TBN' 150000/10 Pointe Noire and Quebec/Qingdao 20/29 September approx
$24.50 fio scale/30000 shinc - Pacific Bulk
'TBN' 75000/10 Tubarao/Dunkirk 15/24 Sept $12.75 fio 65 hrs sc/25000
sc - Vale
'TBN' 60000/10 Mo-i-Rana/Ijmuiden & Immingham 10/15 Sept $7.85 fio 5
days sc - Tata Steel
'Diamantina' 2010 59000/10 Kamsar/San Ciprian 8/14 Sept $9.75 fio
24000 sc/15000 sc - Cobelfret
'COSCO TBN'  Seven Islands/Rotterdam  - TKS - yesterday's reported fixture was $5.75 per Long Ton>

COAL





'Glovis TBN' 150000/10 Newcastle/Youngheung 11/20 Sept $9.77 fio
scale/50000 shinc - Kepco

AMENDMENTS TO THE SOLAS REGULATION III/1

In an attempt to eliminate accidents associated with the on-load release mechanism, the IMO has adopted amendments to SOLAS Chapter III and LSA Code as well as developed recommendations for test
of Life Saving Appliances.

Through MSC.317(89) the International Maritime Organization (IMO) has adopted amendments to
SOLAS III/1.5 for lifeboat release and retrieval systems (RRS) The requirements apply to on-load
mechanisms installed on all new and existing cargo ships as well as passenger ships. January 1, 2013
is the date of entry into force and the requirements will take effect on July 1, 2014. Additionally
through MSC.1/Circ.1393 guidelines for the early application of new SOLAS regulation III/1.5 have
been published that clarifies the application to new ships and encourages the use of compliant on-load
RRS at the earliest opportunity.
Furthermore, through resolution MSC.320(89) Chapter IV of the LSA Code has been revised in order to
prevent unexpected accidents during lifeboat drills and/or inspections. The expected date of entry into
force is January 1, 2013. Moreover, resolution MSC.321(89) includes amendments to the revised
recommendation on testing of life-saving appliances (Resolution MSC.81(70), as amended) to come in
line with the revised LSA Code Chapter IV.
IMO MSC has also adopted guidelines for evaluation and replacement of lifeboat release and retrieval
systems that include design review, performance test, reporting the evaluation results for existing RRS,
one-time follow-up overhaul examination and procedure for replacing non-compliant RRS. These
guidelines have been adopted through circular MSC.1/Circ.1392 and are applicable only to existing
RRS.
ACT NOW
All ship Owners / Managers of existing ship shall recognize whether installed lifeboats’ on-load release
mechanisms have been evaluated and identified as being in compliance with the LSA Code Chapter IV,
as amended by MSC.320(89). If the release mechanism is not in compliance, replacement will be
required.

Industry Updates on 31.08.2012


INDUSTRY UPDATES
31st August,2012
STEEL, METALS AND MINING
Close
COAL
Inter- Ministerial Panel to decide Fate of 58 coal blocks next week
In the wake of controversies shrouding coal mines allocation, an inter-ministerial panel will decide next week the fate of 58 blocks which the private companies and PSUs failed to develop within allowed time. The government has already issued de-allocation notices to 35 government firms and 23 private companies which failed to develop the same allotted for captive use in the given time-frame.

"An Inter-Ministerial Group, headed by Additional Secretary, Coal, Zohra Chatterji will meet on Tuesday or Wednesday to decide on 58 blocks which were served de-allocation notices," a top Coal Ministry official told PTI. The official clarified that the blocks, barring a few, are different from those mentioned in the CAG report.

Government auditor CAG in its recent report tabled in Parliament stated that undue benefits to the tune of Rs 1.86 lakh crore were extended to private firms on account of allocation of 57 mines to them. There were media reports that the government may cancel over 50 blocks mentioned in the CAG report.

Coal Minister Sriprakash Jaiswal, however, said, "The blocks were allocated under a process... monitoring the process of blocks development is done regularly and it is wrong to say that these will be cancelled. IMG will review their progress and take a final view on it." Meanwhile, the government is likely to kick off the auction process of 54 identified coal blocks having a reserve of about 18.22 billion tonnes next year.

Jaiswal had earlier said that the credit rating firm CRISIL is likely to submit its report on the methodology of auction soon.
(Economic Times)
IRON ORE
China August Iron Ore Estimated to Drop 10% as Prices Fall
China’s iron ore output probably fell about 10 percent this month as tumbling prices squeezed out costly producers and steelmakers used cheaper imports, the China Metallurgical Mining Enterprise Association said.
Production will be about 115 million metric tons this month, little changed from July, Lei Pingxi, executive vice chairman of the association, said today in an interview in Suzhou at a Umetal conference. Output was 127.5 million tons in August last year, according to the National Bureau of Statistics.
The nation’s iron ore output had the steepest decline in July in four years, as the world’s largest metals consumer increased purchases from producers such as Brazil’s Vale SA (VALE3) and Rio Tinto Group. Prices tumbled 35 percent this year to $90.30 a dry ton yesterday, the lowest level since November 2009, according to a gauge compiled by The Steel Index Ltd.
“The competitiveness of Chinese iron ore mines is falling because of falling prices, higher construction costs and taxes,” Lei said. About 42 percent of China’s iron ore mines have production costs of greater than $100 a ton, he said.
China’s iron ore output in the three months to the end of August is about 5 percent lower than the previous three months, Lei said. The capacity use ratio at Chinese miners was 62 percent, according to researcher Umetal.com.
Supply, Demand
Global seaborne iron ore supply may rise 50 million tons in the second half this year from the first half, while demand may decline, Zhang Dianbo, the general manager of raw-material purchasing at China’s second-largest steelmaker Baosteel Group Corp., said at the conference.
Chinese steelmakers, overwhelmed by increasing capacity and sluggish demand, have struggled to remain profitable as steel prices dropped to an almost three-year low this month. Domestic mills had a combined loss of 1.9 billion yuan ($299 million) in July, with an average profit margin of just 0.03 percent in the seven months to July, Wang Xiaoqi, vice chairman of China Iron and Steel Association, said today.
Still, Chinese mills haven’t made significant production cuts, Umetal analyst Zhang Jiabin said. The steelmakers’ operating rate at Tangshan in Hebei province, China’s biggest region by output, is 91 percent, up from 78 percent in October, he said.
China’s ore contains about 20 percent iron, compared with more than 55 percent in Australian ore, making it more expensive to extract, Deutsche Bank AG estimates. China has about 1,500 iron ore producers nationwide, with 1,000 smaller mines accounting for about a third of output, Lei said.
Floor Price
Iron ore prices are well below recognized floor prices of $120 a ton, suggesting high-cost iron ore supply closures will not be far off, Australia & New Zealand Banking Group Ltd. (ANZ) said Aug. 28.
The recent plunge in prices prompted contract ore buyers to seek other ways to price the steelmaking raw material. The current pricing method, based on indexes, doesn’t reflect the needs of larger buyers and needs improvement, Baosteel’s Zhang said. The Shanghai-based company buys ore on a quarterly basis.
As much as 10 percent of globally traded ore is sold through public auctions, while the remaining 90 percent is bought at index prices that are determined by bids, he said.
Australia and Brazil accounted for 66.2 percent of China’s total ore imports in the first half, up from 64 percent last year as imports from India dwindled, Umetal said.
(Hellenic Shipping News)
Iron ore hits USD 90 mark’

iron ore price floor that miners have long been flagging could be a long way off, with prices of the steelmaking ingredient continuing to slump amid talk that China is subsidising high cost iron ore production.

The notion of a price floor at about USD 120 a tonne, where high-cost Chinese production should have become unprofitable, has previously been pushed by Rio chief Tom Albanese and Fortescue chief Nev Power and others.

In a note to clients written from a China research trip, ANZ commodities strategy chief Mark Pervan said a major problem for iron ore markets was that steel mills were not cutting production, despite falling steel prices, because of political and social drivers. ANZ believes the same thing is happening with iron ore production, with about 50 per cent of Chinese iron ore supply under water, but continuing to produce. He said that "We are unlikely to see the market bounce back until mine supply starts to wind down in the coming months.”

Macquarie analysts said that while big steel mills were cutting output, smaller mills that were yet to cut production could run down inventories after they finally started to do so, putting further pressure on prices.
(Steel Guru)
CEMENT
AGRICULTURE
Wheat falls on profit-taking but Russia worries continue to support
U.S. wheat fell on Thursday as traders locked in profits following its biggest daily climb since mid-July in the previous session, although concerns that Russia is poised to implement export curbs continued to support prices.
Soybeans slid, giving back a third of their gains from the day before, while corn dropped slightly.
"With the uncertain situation in Russia, traders are cautious and may take gains," said Graydon Chong, senior analyst at Rabobank.
The grain industry in the United States is also on alert for a naturally occurring toxin in corn that could present another challenge to farmers already hit by the worst drought in 56 years, although it is too early to tell how serious the problem might be.

The Daily Fixture/Index List of 30th August, 2012

The Daily Fixture/Index List of 30th August, 2012

FIXTURES - 30/AUG/2012



Baltic Exchange Daily Fixture/Index List 30/08/2012


BDI 707 (DOWN 11) BCI 1169 (DOWN 8) BPI 758 (DOWN 30)

BSI 855 (DOWN 3) BHSI 463 (DOWN 3)

Last published BDTI 622 (UP 2) BCTI 582 (UP 2)


TIMECHARTER


'Bulk Indonesia' 2011 95740 dwt dely Richards Bay 10/20 Sept trip
redel India $8000 daily + $300000 bb - Oldendorff
'Flora Island' 2012 81500 dwt dely aps Indonesia 5/15 Sept trip
redel Japan $6000 daily $117000 bb - MOSK
'Navios Marco Polo' Louis Dreyfus relet 2011 80647 dwt dely Rotterdam
4/6 Sept trip via USEC redel India via Cape of Good Hope $16000 daily
- cnr
'Shou Shan' 2010 79775 dwt dely Mundra 5/15 Sept trip via WC India
redel S.Korea $6000 daily - Oldendorff
'Golden Eminence' 2010 79444 dwt dely Amsterdam 2/6 Sept trip via
Baltic redel India via gulf of Aden int fertilizers $18250 daily - cnr
'Gauri Prem' 2007 74483 dwt dely Indonesia 3/7 Sept trip redel
Malaysia $5250 daily + $70000 bb - cnr
'Navios Magellan' 2000 74333 dwt dely aps Indonesia 8/15 Sept trip
redel Malaysia $5000 daily + $70000 bb - Yangtze Navigation
'Helena' 1999 73744 dwt dely Hualien 29 Aug/5 Sept trip via
Indonesia redel Philippines $5000 daily - Oldendorff
'Global Laguna' 2012 58695 dwt dely WC UK 1/5 Sept trip redel Turkey
$15250 daily - cnr
'Wadi Albostan' 2011 57696 dwt dely aps Tanjung Pemancingan early
Sept trip redel full India $8500 daily + $85000 bb - Bulk Marine
'Fareast Harmony' 2012 57000 dwt dely Singapore spot 2/3 laden legs
redel India-Japan $8000 daily - Oldendorff
'Nemtas 4' 2005 56023 dwt dely Singapore prompt trip via Indonesia
redel India $9000 daily - Seatrek
'Nicolaos S' 2003 53800 dwt dely CJK 2/7 Sept trip via Nopac redel EC
India-Singapore $8500 daily - cnr
'Akmi' 2003 53800 dwt dely south east Kalimantan 2/5 Sept trip redel
WC India $8000 daily + $120000 bb - Ultrabulk
'Panoria' 2008 53514 dwt dely Vietnam prompt trip via Indonesia redel
south China $5000 daily - Klaveness
'Azizi' 2001 52500 dwt dely Houston 6/7 Sept trip redel Continent
approx $10750 daily - WBC
'STX Bonita' 2012 38140 dwt dely Newport 30/31 Aug trip redel east
Mediteranean $11750 daily - cnr

PERIOD


'Archegetis' 2011 81076 dwt dely Kosichang 29 Aug/2 Sept 4/7 months
trading redel worldwide $8100 daily - EdF
'Bahia Blanca SW' 2011 75700 dwt dely Far East in d/c Jan 2013 11/13
months trading redel worldwide $9000 daily option further 11/13 months
trading $10000 daily - Oetker

ORE


'COSCO TBN' 170000/10 Seven Islands/Rotterdam 15/29 Sept $5.60 fio 6
days shinc - TKS
'Q Myrtalia' Vitol relet 2011 170000/10 Port Hedland/Qingdao 5/7 Sept
$7.65 fio scale/30000shinc - BHP Billiton
'TBN' 160000/10 Saldanha Bay/Qingdao 16/20 Sept $12.75 fio
scale/30000shinc - Kumba
'Marvellous' 2000 160000/10 Tubarao/Qingdao 20/30 Sept approx $17.60
fio scale/30000shinc - Noble -
'Chin Shan' 2004 160000/10 Dampier/Qingdao 13/17 Sept $7.25 fio
scale/30000shinc - Rio Tinto
'Alpha Millennium' 2000 160000/10 Dampier/Qingdao 7/9 Sept $7.40 fio
scale/30000shinc - Rio Tinto
'K. Adventure' 2011 160000/10 Saldanha/Qingdao 15/18 Sept $12.70 fio
scale/30000shinc - Kumba
'Skythia' 160000/10 Dampier/Qingdao 12/14 Sept $7.20 fio
scale/30000shinc - Rio Tinto
'TBN' 75000/10 Ubu/Ghent 10/20 Sept $13.00 fio 50000shinc/30000shinc -
ArcelorMittal
'TBN' 49000/10 Kamsar/Port Comfort 18/24 Sept $10.75
24000shinc/15000shinc - Cobelfret

COAL


'Vishva Vinay' 2012 75000/5 Port Kembla/EC India 20/29 Sept $15.45 fio
35000satshex/20000satshex - SAIL

The Daily Fixture/Index List of 29th August, 2012

The Daily Fixture/Index List of 29th August, 2012

FIXTURES - 29/AUG/2012



Baltic Exchange Daily Fixture/Index List 29/08/2012


BDI 718 (DOWN 6) BCI 1177 (DOWN 5) BPI 788 (DOWN 24)

BSI 858 (UP 1) BHSI 466 (DOWN 6)

Last published BDTI 620 (UP 2) BCTI 580 (UP 1)

TIMECHARTER


'Maritime Century' 2010 95790 dwt dely aps Indonesia 8/15 Sept trip
redel Taiwan $5500 daily + $90000 bb - NCS
'Baltia' 2005 75776 dwt dely Indonesia 2/6 Sept trip redel India
$6600 daily + $145000 bb - Flame
'Fu Rong Fen' 2011 75581 dwt dely aps Indonesia 1/5 Sept trip redel
China $5750 daily + $90000 bb - Ever Harmony
'Evanthia' 2001 74297 dwt dely Indonesia 5/10 Sept trip redel
S.China $6000 daily + $100000 bb - Noble
'Isabelita' 2010 58080 dwt dely NC South America spot trip redel
West Africa approx $14000 daily - Norden - fixture 'Senorita' reported 28/08>
'Vega Aquarious' 2010 57000 dwt dely USGulf spot trip redel
Singapore-Japan $18500 daily - Cargill
'Dubai Galactic' 2007 55418 dwt dely Singapore spot trip via
Indonesia redel China $6000 daily - Cargill
'Lion' 2000 32267 dwt dely aps Hamburg spot trip via Cape of Good
Hope redel EC India $13400 daily - STX Pan Ocean - 28/08>
'Westgate' 2011 28183 dwt dely north coast South America spot trip
redel west coast Italy $7750 daily - cnr
'Vereina' 2008 27112 dwt dely Singapore prompt trip via Australia
redel south east Asia $5500 daily - cnr

ORE


'Cosbulk TBN' 170000/10 Port Hedland/Qingdao 10/15 Sept $7.30 fio
scale/30000shinc - BHP Billiton

The Maritime Labour Convention has been ratified

On the 20th of August 2012, Russia and Philippines ratified the Maritime Labour Convention (MLC) 2006.

The Maritime Labour Convention has been ratified from over 30 ILO Member Countries (31, after Russia and the Philippines ratified it on 20/08/2012), accounting for almost 60% of the world's gross tonnage.

The Convention will enter into force on the 20th of August 2013, 12 months after the requirements set (ratification by at least 30 ILO Member countries representing at least 33% of the world's gross tonnage) were finally met.


find below full text of the convention for your information :


INTERNATIONAL LABOUR CONFERENCE

Industry Updates on 27.08.2012


INDUSTRY UPDATES
on 27th August,2012


STEEL, METALS AND MINING

Close
COAL
India Inc’s foreign coal mine play to hit margins as prices fall
A handful of Indian companies that had together invested over $10 billion in acquiring 14 coal mines abroad are now worried after coal prices have dropped 40% in two years to about $80 a tonne.

For example, GVK Power and Infrastructure pumped in $1.3 billion to buy an Australian coal mine less than a year ago when coal prices were at $124 a tonne and Adani Enterprises put $2.7 billion on the table two years ago to buy another mine in the country when prices were at $95.5 per tonne.

These deals were done at a time when several new and coal-hungry steel, power and cement projects were underway, GDP growth was still strong at 8.2% and Coal India was struggling to keep pace with demand. The deals were aimed at securing fuel needed by these companies to race ahead with their growth plans. But they are now threatening to become dead weight instead.

Falling coal prices — 15% drop since January — have raised questions over the timing and prudence of these acquisitions and likely returns. Bankers are questioning the companies' ability to service the debt raised. Auditors are also saying the fall could force companies to write down the value of these acquisitions in their books.

"Most Indian companies had bought mines at very high premiums and are set to suffer steep fall in margins due to the falling global coal prices," says Nama Nageswar Rao, chairman, Madhucon Group, a company with interests in construction, coal, power and sugar. "Apart from shrinking profit margins, they will end up incurring losses after servicing the debt raised at high interest rates."

Not everyone thinks the outlook is so bleak, but most concede companies will feel the squeeze in their balance sheets. "As we speak today, we are not seeing good times for coal globally," admits Lanco Infratech chairman L Madhusudan Rao. The Hyderabadbased builder of roads and bridges, which paid $750 million to acquire Australia's Griffin Coal in December 2010, has Rs 32,000 crore in debt and posted a Rs 442-crore loss last quarter. It is looking to sell non-core assets to lighten its debt burden.

"Of course, we will be worried if the stressed cycle (of low price and demand) continues," adds Rao. "If the situation persists for the next four to five years, then it's not a good situation to be in. Our view is that the current situation may probably last for the next 14-15 months." Bankers are anxious too. "Profits of Indian companies have been falling sharply, increasing defaults. Now, if large mining companies face losses in their acquisition transactions, the situation will worsen," says a senior official at a state-run bank who asked not to be named.

"It can be a cause for concern for bankers as the stakes are too high," says Seshagiri Rao, joint managing director and chief financial officer (CFO) with the JSW Group. "If the ability to repay is reduced, bankers will resort to extreme steps to cover losses. But most such deals have covenants built in, that protect them (bankers) in the event of a major downside (in prices)," he adds. Typically, banks press for shares in parent companies as acushion in the event of an acquisition going wrong.

The clause can be invoked if the price falls below an agreed level. Auditors are also raising alarm bells. "Companies may try and mask the decline by saying that the fall is temporary and may likely revive. But a trigger is needed to initiate an impairment exercise," says Amarjit Chopra, former president at the Institute of Chartered Accountants of India.

"In this case, the sharp fall in coal prices can be considered (as a trigger)." The ICAI can ask the companies to report the change. Companies argue that prevailing coal prices are not the only measure of the success of such buyouts. Mine life and related infrastructure also count in the long run. Moreover, companies using global mines for captive purposes and those that have an integrated plan to use the coal may be better off.
(Economic Times)

IRON ORE
Kudremukh Iron ore in talks for setting up four new pellet plants
In a spot after its mining operations were suspended, Kudremukh Iron Ore Company (KIOCL), a public sector undertaking , is exploring opportunities to partner state-owned miners and steel makers for setting up four new pellet and beneficiation plants in India in an attempt to revive itself.

It is in talks with leading steel and mining companies like SAIL, RINL, Orissa Mineral Development (OMDC) and NMDC to set up four new pellet and beneficiation plants through separate joint ventures.

"We are in the process of drawing up plans to take up a leading position in pellet making capacity . We will shortly enter into agreements with leading steel and mine players to set up joint ventures for pellet making and beneficiation," said Malay Chatterjee , chairman and MD of HSCL who recently took over as CMD of KIOCL.

While it is keen on a tie-up with SAIL for pellet plants in Bokaro and Rourkela, KIOCL is also in talks with RINL and OMDC for a three-way joint venture in which it plans to pick up 26% stake. "While we have been hit by halt in mining, we have decided to chart our growth plans based on value addition of ore. We need to secure the future of KIOCL and its 1,300 employees," Chatterjee added.

Each of these pellet units is likely to be around 2 million tonne (mt) in capacity. KIOCL is in discussions with NMDC for a 6 mt pellet unit in Chhattisgarh. Going by the thumb rule, each 2 mt pellet unit is expected to cost around Rs 500 crore. For beneficiation plants, 1 mt capacity would cost Rs 100 crore. With reserves of over Rs 1,500 crore, KIOCL requires financial strength to participate in the projects.

When contacted, a SAIL official said the company is planning to set up pellet plants at Rourkela and Bokaro. "We are yet to firm up plans but we hope to decide on whether to go it alone or invite a partner within a month or so," the official said.

The Daily Fixture/Index List of 24th August, 2012

The Daily Fixture/Index List of 24th August, 2012

FIXTURES - 24/AUG/2012




Baltic Exchange Daily Fixture/Index List 24/08/2012


BDI 717 (UP 2) BCI 1124 (UP 21) BPI 828 (DOWN 12)

BSI 853 (UP 8) BHSI 474 (DOWN 3)

Last published BDTI 617 (No change) BCTI 578 (No change)


TIMECHARTER




'C. Triumph' 1999 169883 dwt dely aps Yuzhnyy ppt trip redel China
via gulf of Aden $27000 daily - Richstone
'Tosa Sea' 2010 92500 dwt dely aps Samarinda 4/13 Sept trip redel
Taiwan $6500 daily + $110000 bb - SW Shipping
'Iolcos Legacy' 2010 87300 dwt dely Recalada 23/27 Sept trip redel
China south of Xiamen 15500 daily + $550000 bb - Louis Dreyfus
'STX Clover' 2012 81177 dwt dely Paranagua 10/15 Sept redel
Singapore-Japan $14350 daily + $450000 bb - CJ International
'Marichristina' 2001 74450 dwt dely Amsterdam spot 2 laden legs 1st
Baltic/US Gulf int pigiron redel Skaw-Cape Passero $8000 daily - K2
'East Bravery' 2001 74117 dwt dely Brake 28 Aug/2 Sept trp via
Baltic & Jeddah redel Cape Passero $9250 daily - Alfred C.Toepfer
'Great Jade' 1997 73192 dwt - $255000>
'Bulk Colombia' 2011 57937 dwt dely Singapore end August trip via
Indonesia redel Thailand $6500 daily - Klaveness
'Grigorpan' 2002 53733 dwt dely Singapore 25/26 August trip via
Indonesia redel Thailand $6000 daily - Klaveness
'Ocean Chie' 2003 52370 dwt dely USGulf spot trip redel Greece
intention pet coke approx $12250 daily - Oldendorff
'Good Trade' 2012 52226 dwt dely aps Mina Saqr 25/30 August trip
redel PG/WC India $10500 daily - Siva Bulk
'Robert Schulte' 1997 48225 dwt dely US Atlantic spot trip redel
Continent intention woodpellets approx $11000 daily - Pacbasin
'Emerald' 1998 45585 dwt dely aps Long Beach 23/27 August trip redel
Singapore-Japan intention scrap $7250 daily + $250000 bb - Grace
Trading -

PERIOD




'Pontotriton' 2007 177947 dwt dely Shanghai in d/c ppt 4/7 months
trading redel worldwide $8000 daily - SwissMarine

ORE




'Pacific Endurance' 2011 160000/10 Port Hedland/Qingdao 10/17 Sept
$6.65 fio scale/30000shinc - GMI
'Spring Warbler' 2012 59000/10 bauxite Kamsar/San Ciprian 2/8 Sept
$10.25 fio 24000shinc/15000shinc - Cobelfret


COAL






'TBN' 150000/10 Puerto Drummond/Rotterdam 10/20 Sept $8.60 fio
25000shinc bends - Resource Marine

Industry Updates on 24th August,2012


INDUSTRY UPDATES
24.08.2012
STEEL, METALS AND MINING
Jairam Ramesh calls for freeze on fresh mining in worst Naxal – affected regions
Rural Development Minister Jairam Ramesh has pitched for a moratorium on new mining projects in the worst Naxal-affected regions and particularly in areas recently recaptured from insurgents, saying it was essential to quell the Maoist problem wreaking havoc across much of India's hinterland. Tribal affairs minister Kishore Chandra Deo had earlier made this suggestion. In comments certain to draw the ire of industry, parts of which already view him as anti-development, Ramesh also said mining was part of the problem, and called it one of the key issues contributing to the Maoist stranglehold over mineral-rich forest areas.

"There should be a 10-year moratorium on new mining in the worst Naxal-affected areas, particularly those areas which have recently been liberated from Maoist control and where we need to re-establish the presence of the state, improve governance and ensure that Maoists don't regain the foothold," he told ET in an interview.

Ramesh said that mining as it has been and is being undertaken was "neither ecologically sensitive nor socially inclusive". He said it had aided Maoists gain control over large swathes of central India's tribal belt, as he argued that it was essential to address issues arising from mining activities if the state is to consolidate and re-establish its presence in the Naxal-affected areas.

A moratorium on mining, Ramesh said, will buy the central and state governments time to first provide the basics in tribal areas and then help equip the local population to be able to participate in economic activities such as mining.

"What we need to do is build up the skill set of the local population, improve governance, and train the local people so that they are in a better position to participate in this economic activity," he explained.

"If you have a free for all for mining in these areas, given that our track record in mining has been so disastrous, what you will have in the initial years will be that all the jobs (skilled and semi-skilled) go to outsiders and the menial jobs will be done by the locals."

Such a situation would over time breed resentment among the locals and end up becoming a recruiting sergeant for the Naxal cause, he added. Limiting mining activity would also help cut off a key funding source for the Maoists, whom Ramesh described as being fuelled by "levy and not ideology".

"The moment you expand mining activities you will find a proliferation of groups operating under the garb of Maoist ideology, but who are basically extortionists," he said.

With his stance on mining, Ramesh is potentially placing himself once again in the firing line of detractors who blame him for a lot of the country's present economic problems.

In his previous job as environment minister, Ramesh pushed a policy demarcating forests as 'go and no-go' areas for mining, a move that made him a lightning rod of criticism both within and outside the government.

Other ministers and some in industry circles have blamed him and his policy for raw material shortages and resultantly a sharp drop in economic growth rates.
(Economic Times)

Close
COAL
Indian coal mining scam - CBI may register multiple FIRs in coal scam

The CBI is likely to register more than one FIRs in the alleged irregularities in allocation of coal blocks after it came across several cases of violation of norms by state government officials and allottees. CBI sources said that the agency has already questioned senior bureaucrats who were overseeing allocation of coal blocks during 2006-09. Meanwhile, the agency is also taking into cognisance the Comptroller and Auditor General report on alleged coal block scam which was tabled in Parliament on Friday.

The sources, however, made it clear that CBI would not be going into policy issues but will limit its role to aspects where criminality could be established.

The agency has also questioned members of screening committee including Secretaries and Joint Secretary in the Ministry, CBI sources said.

They said the questioning of the Coal Secretaries, who also chair the screening committee, was done to understand the issues involved in the allocation of coal blocks during the period and so far agency has not found any irregularity on their part.

They said that the agency has shortlisted nearly 15 companies which allegedly violated norms of allotment of coal blocks and questioning of their officials is going on.

The agency has registered the Preliminary Enquiry, which is the first step of initiating the CBI probe, against unknown persons in connection with a complaint referred to it by the Central Vigilance Commission.

Allocation of coal blocks is done through an inter-ministerial inter-governmental body called the Screening Committee chaired by coal secretary.

It includes the secretaries of nine ministries having interests in coal, besides heads of various PSUs, and chief secretaries of coal-supplying states.
(Steel guru)
GVK gets final green NOD for Australian coal project
In a major relief to India's GVK group and Australia's Hancock Prospecting, the Australian federal government on Thursday granted final environmental approvals to the GVK-Hancock joint venture's A$10b Alpha coal and rail project in Queensland state.

The Daily Fixture/Index List of 23rd August, 2012

The Daily Fixture/Index List of 23rd August, 2012

FIXTURES - 23/AUG/2012



Baltic Exchange Daily Fixture/Index List 23/08/2012


BDI 715 (UP 3) BCI 1103 (UP 12) BPI 840 (DOWN 3)

BSI 845 (UP 12) BHSI 477 (DOWN 4)

Last published BDTI 617 (UP 3) BCTI 578 (DOWN 1)



TIMECHARTER


'Cape Agamemnon' 2010 179221 dwt dely Gibraltar spot trip via Puerto
Prodeco redel Continent $3000 daily - Vitol
'Indus Fortune' 2010 92928 dwt dely aps Richards Bay 5/11 Sept trip
redel full India $8250 daily +$300000 bb - Siva Bulk
'Zheng Kai' 2012 82500 dwt dely aps Dalrymple Bay 1/10 Sept trip
redel India $5500 daily + $350000 bb - cnr
'Atalanta' 2010 82088 dwt dely Dunkirk 25/29 Aug trip via Baltic
redel Skaw-Gibraltar $6800 daily - cnr
'Santa Paula' Bunge relet 2009 77171 dwt dely Drummond 3/12 Sept
trip redel Vado Ligure $8500 daily + $250000 bb - Vitol
'Jupiter' 2006 77171 dwt dely EC South America 2/15 Sept trip redel
Singapore-Japan $15500 daily + $500000 bb - Louis Dreyfus -
'GH Power' 2002 76421 dwt dely Sual 28 Aug/1 Sept trip via Indonesia
redel Sual $7000 daily - K2
'Tina' 2000 75933 dwt dely Indonesia 26/31 Aug trip redel Hong Kong
$5500 daily + $90000 bb - Oldendorff
'Great Jade' 1997 73192 dwt dely US Gulf 2/6 Sept trip redel
Skaw-Cape Passero int grain $8500 daily + $550000 bb - cnr
'Amoy Progress' 2011 56874 dwt dely Xiamen spot trip via SE Asia
redel China intention nickel ore $9000 daily - cnr
'Fesco Stavropol' 2012 56830 dwt - not China>
'Lan Hai Li Liang' 2011 56800 dwt dely Guangzhou 24/26 August trip
via SE Asia redel China intention nickel ore $8500 daily - cnr
'Thor Fortune' 2010 54123 dwt dely Indonesia spot trip redel India
$8000 daily + $120000 bb - cnr
'Spar Taurus' 2005 53565 dwt dely psg Singapore 27/30 Aug trip via
Indonesia redel full India $7250 daily - Siva Bulk
'Star Epsilon' 2001 52434 dwt dely Japan spot trip via Nopac redel
Singapore-Japan $8500 daily - Pacbasin
'Rainbow' 2004 52050 dwt dely S.Brazil spot trip via PG redel PMO
$12250 daily + $250000 bb - Norden
'Lalis' 2002 51536 dwt dely E.Med spot trip redel West Africa approx
$10000 daily - cnr
'JS Comet' 1999 35362 dwt dely Singapore prompt trip via Australia
redel Taiwan $7000 daily - cnr
'Northern Dancer' 2010 35000 dwt dely Durban spot trip redel
Mediterranean approx $6200 daily - IVS
'Luo Zhou' 2011 35000 dwt dely Singapore prompt trip via Kalimantan
redel China $3000 daily - cnr
'Great Gain' 1998 27140 dwt dely Singapore prompt trip via Australia
redel Singapore-Japan $4750 daily - cnr

PERIOD


'Pella' 2010 82191 dwt dely retro Kakogawa 16 Aug 4/6 months trading
redel worldwide $8500 daily - Bunge -
'Prime Lily' 2012 82000 dwt dely US Gulf 12/15 Sept 24/30 months
trading $11800 daily option further 11/13 months trading $13000 daily
- Clearlake
'Kalypso' 1997 73762 dwt dely Dangjn 23/27 Aug 4/6 months trading
redel worldwide $8000 daily - D'Amico
'Navios Ionian' 2000 52067 dwt dely N.China spot 3/5 months trading
redel worldwide $8500 daily - MUR

ORE

'Dong-A Erato' 2010 160000/10 Tubarao/Qingdao 11/20 Sept $17.05 fio
scale/30000shinc - Noble
'SK Shipping TBN' 160000/10 Saldanha Bay/Qingdao 15/30 Sept $12.50 fio
scale/30000shinc - Kumba
'ZOSCO Dalian' 2010 160000/10 Dampier/Qingdao 3/7 Sept $6.80 fio
scale/30000shinc - Rio Tinto

REVISED INTERIM GUIDANCE TO SHIPOWNERS, SHIP OPERATORS AND SHIPMASTERS ON THE USE OF PRIVATELY CONTRACTED ARMED SECURITY PERSONNEL ON BOARD SHIPS IN THE HIGH RISK AREA


1 The Maritime Safety Committee, at its eighty-ninth session (11 to 20 May 2011), approved interim guidance to shipowners, ship operators and shipmasters on the use of privately contracted armed security personnel on board ships in the High Risk Area.
2 Given the importance and urgent nature of the issue, and the need to further develop and promulgate detailed guidance and recommendations as soon as possible, the Committee approved and the Council authorized the convening of an intersessional meeting of the Maritime Security and Piracy Working Group (13 to 15 September 2011) to update the guidance.
3 The interim guidance was subsequently revised by the Maritime Safety Committee at its ninetieth session (16 to 25 May 2012) to take into account consequential amendments arising from the development of the interim guidance to private maritime security companies set out in MSC.1/Circ.1443 on Interim guidance to private maritime security companies providing privately contracted armed security personnel on board ships in the High Risk Area.
4 The Revised interim guidance to shipowners, ship operators and shipmasters on the use of privately contracted armed security personnel on board ships in the High Risk Area is set out in the annex.
5 The attached revised interim guidance should be read in conjunction with the interim recommendations set out in MSC.1/Circ.1443; MSC.1/Circ.1406/Rev.2 on Revised interim recommendations for flag States regarding the use of privately contracted armed security personnel on board ships in the High Risk Area; and MSC.1/Circ.1408/Rev.1 on Revised interim recommendations for port and coastal States regarding the use of privately contracted armed security personnel on board ships in the High Risk Area2; and the information provided in MSC-FAL.1/Circ.2 on Questionnaire on information on port and coastal State requirements related to privately contracted armed security personnel on board ships, as well as the other recommendations and guidance developed by the Organization for preventing and suppressing piracy and armed robbery against ships.
1 High Risk Area: an area as defined in the Best Management Practices for Protection against Somalia Based Piracy (MSC.1/Circ.1339), unless otherwise defined by the flag State.
2 As they may be revised.
MSC.1/Circ.1405/Rev.2
Page 2
I:\CIRC\MSC\01\1405-Rev-2.doc
6 Member Governments are urged to bring this circular to the attention of all national agencies concerned with anti-piracy activities, shipowners, ship operators, shipping companies, shipmasters and crews.
7 Member Governments are also urged to take any necessary action to implement, as appropriate, the revised interim guidance given in the annex.
8 Member Governments, international organizations and non-governmental organizations with consultative status are invited to bring to the attention of the Committee, at the earliest opportunity, the results of the experience gained from the use of the revised interim guidance so as to assist the Committee in deciding on any action to be taken.
9 MSC.1/Circ.1405/Rev.1 is hereby revoked.
***
MSC.1/Circ.1405/Rev.2
Annex, page 1
I:\CIRC\MSC\01\1405-Rev-2.doc
ANNEX
REVISED INTERIM GUIDANCE TO SHIPOWNERS, SHIP OPERATORS AND SHIPMASTERS ON THE USE OF PRIVATELY CONTRACTED ARMED SECURITY PERSONNEL ON BOARD SHIPS IN THE HIGH RISK AREA1
1 Introduction
1.1 The increased threat to commercial shipping by Somalia-based pirates has led to extended use of armed guards and a marked expansion in the number of firms offering armed maritime security services for ships transiting the High Risk Area (HRA). The Organization, whilst not endorsing the use of privately contracted armed security personnel (PCASP), understands that shipping companies may find it difficult to identify reliable, professional private providers of armed security.
1.2 The decision on the employment of PCASP on board ships is a complex one for a shipowner. The absence of applicable regulation and industry self-regulation coupled with complex legal requirements governing the legitimate transport, carriage and use of firearms2 gives cause for concern. This situation is further complicated by the rapid growth in the number of private maritime security companies (PMSC) and doubts about the capabilities and maturity of some of these companies. Significant competence and quality variations are present across the spectrum of contractors offering services.
1.3 The purpose of this guidance is to assist shipowners, ship operators and shipmasters considering the use of PCASP on board ships to provide additional protection against piracy.
1.4 It is important to note that flag State jurisdiction and thus any laws and regulations imposed by the flag State concerning the use of PMSC and PCASP apply to their ships. Furthermore it is also important to note that port and coastal States' laws may also apply to such ships.
1.5 The use of PCASP should not be considered as an alternative to Best Management Practices (BMP) and other protective measures. Placing armed guards on board as a means to secure and protect the ship and its crew should only be considered after a risk assessment has been carried out. It is also important to involve the Master in the decision making process.
2 Definitions
High Risk Area: an area as defined in the BMP unless otherwise defined by the flag State.
Private maritime security companies (PMSC): Private contractors employed to provide security personnel, both armed and unarmed, on board for protection against piracy.

The Daily Fixture/Index List of 22nd August, 2012

The Daily Fixture/Index List of 22nd August, 2012

FIXTURES - 22/AUG/2012



Baltic Exchange Daily Fixture/Index List 22/08/2012


BDI 712 (UP 3) BCI 1091 (UP 9) BPI 843 (UP 10)

BSI 833 (No change) BHSI 481 (DOWN 4)

Last published BDTI 614 (UP 4) BCTI 579 (DOWN 4)


TIMECHARTER


'Mineral China' 2003 relet 171448 dwt dely Gibraltar 27/31 Aug trip
via Bolivar redel Iskenderun $2750 daily - Hanjin
'Mighty Sky' 2010 81502 dwt dely Kurashiki 20/22 Aug trip via NoPac
redel Singapore-Japan $7500 daily - cnr
'STX Dynamic' 2012 81169 dwt dely CJK 23/25 Aug trip via EC
Australia redel Far East $8000 daily - cnr
'Wanisa' 2012 79401 dwt dely aps Haldia spot redel China $5000 daily
- Jaldhi
'Navios Star' 2002 76662 dwt dely aps Tanjung Bara 1/10 Sept trip
redel Malaysia $5000 daily + $70000 bb - Yangtze Navigation
'Prabhu Satram' 2004 75926 dwt dely Zhoushan 21/23 Aug trip via
Darwin redel China $5750 daily - Noble
'Ecosand G.O.' 2008 75239 dwt dely Jorf Lasfar 28/30 Aug trip via US
Gulf redel China $16750 daily - Western Bulk Carriers
'Amazon' 2001 74910 dwt dely Gdynia 22/24 Aug trip via Continent &
Red Sea redel Cape Passero $9000 daily - Glencore
'Belmonte' 2004 73601 dwt dely Hamburg 4/7 Sept trip via Baltic &
Red Sea redel Port Said $9750 daily - cnr
'V-Rod' 1995 73506 dwt dely Balikpapan 23/29 Aug trip redel China
$8500 daily - Siva Bulk
'Beilun Dolphin' 1997 69548 dwt dely Montoir ppt trip within
Atlantic duration 25 days redel Skaw-Cape Passero $6800 daily - cnr
'Fesco Stavropol' 2012 56830 dwt dely Indonesia spot trip redel
China $9500 daily - Siva Bulk
'African Kingfisher' 2009 55476 dwt dely USGulf spot trip redel
Singapore-Japan $19750 daily - MOL
'Great Praise' 2006 52424 dwt dely aps Indonesia spot trip redel
India $6500 daily + $80000 bb - Isaphia
'Jin Quan' 2002 51104 dwt dely USGulf spot trip redel E Med $11400
daily - Lauritzen
'Monica P' 1998 46667 dwt dely passing Las Palmas spot trip via
Continent redel E Med approx $6500 daily - AEC

PERIOD


'E.R. Boston' 2010 179346 dwt dely Shanghai spot 4/8 months trading
redel worldwide $8000 daily - Cargill
'E.R. Buenos Aires' 2010 178978 dwt dely Rizhao spot 4/6 months
trading redel worldwide $8000 daily - Cargill
'Anna Maria' newbuilding 81500 dwt dely ex yard Sundong spot 4/6
months trading redel worldwide $8500 daily - Bunge
'Afovos' 2001 74350 dwt dely CJK 24/26 Aug 4/6 months trading redel
worldwide $7500 daily - Bunge

ORE


'STX Pan Ocean TBN' 180000/10 Saldanha Bay/Qingdao 20/30 Aug $12.25
basis 1.5% commission scale/30000shinc - Ore & Metals
'Kanaris' 2010 160000/10 Seven Islands/Qingdao 26 Aug/4 Sept $22.00
fio 90000shinc/30000shinc - Rio Tinto
'Dong-A Ether' STX Pan Ocean relet 2011 160000/10 Port Hedland/Qingdao
7/9 Sept $6.55 fio scale/30000shinc - FMG
'TBN' 160000/10 Saldanha Bay/Qingdao 11/14 Sept $12.40 fio
scale/30000shinc - Kumba
'Anangel Vigour' 2012 160000/10 Tubarao/Qingdao 13/23 Sept $17.30 fio
scale/30000shinc - Cargill -
'Lake D' 2011 160000/10 Tubarao/Qingdao 1/10 Sept $17.15 fio
scale/30000shinc - Oldendorff
'TBN' 160000/10 Tubarao/Qingdao 10/19 Sept $17.15 fio scale/30000shinc
- Cargill

The Daily Fixture/Index List of 20th August, 2012

The Daily Fixture/Index List of 20th August, 2012

Baltic Exchange Daily Fixture/Index List 20/08/2012


BDI 711 (DOWN 3) BCI 1087 (DOWN 8) BPI 819 (UP 13)

BSI 838 (DOWN 3) BHSI 490 (DOWN 6)

Last published BDTI 608 (UP 2) BCTI 587 (DOWN 1)


TIMECHARTER




'Transatlantic' 2012 82000 dwt dely aps NoPac 2/5 Sept trip redel
China $7000 daily + $350000 bb - Sinotrans Vancouver
'Darya Lok' 2012 81874 dwt dely EC South America 20/30 Aug trip
redel Far East $15500 daily + $550000 bb - STX Pan Ocean
'Transpacific' 2012 81200 dwt dely aps NoPac 2/5 Sept trip redel
China $7000 daily + $330000 bb - Sinochart
'Jin Zhu Hai' 2009 76611 dwt dely US Gulf 26/30 Aug trip redel UKC
$8500 daily + $275000 bb - Vitol
'Yasa Unity' 2006 75621 dwt dely La Spezia 25/27 Aug 2 laden legs
redel Skaw-Cape Passero $8750 daily - Cobelfret
'TTM Brilliance' 2011 75000 dwt dely Cape Passero spot 2 laden legs
1st Kamsar/US Gulf redel Skaw-Cape Passero $8000 daily - cnr
'Seajoy' 2000 73454 dwt dely aps EC South America 11/18 Sept trip
via Iran redel PMO $15500 daily + $550000 bb - Transgrain
'Hanjin Santana' 2012 58627 dwt dely SW Pass 25/28 August trip redel
WC Central America $16000 daily - ADM
'Pacific Leader' 2012 57000 dwt dely Mombasa 31 Aug/3 Sept trip via
South Africa redel full India $12500 daily - ISL Dubai

'E.R.Bilbao' 2010 55783 dwt dely Santos spot trip redel Spain $9750
daily - Dreyfus


PERIOD




'Alpha Century' 2000 170415 dwt dely China 20/25 Aug abt 3/abt 7
months trading redel worldwide $7750 daily - Louis Dreyfus
'Navios Altair' 2006 83001 dwt dely Xingang in d/c 26/31 Aug 4/6
months trading redel worldwide $7250 daily - GMI

ORE


'TBN' 160000/10 Tubarao/Qingdao 13/23 Sept $17.25 fio scale/30000shinc
- Cargill


COAL




'TBN' 60000/10 Roberts Bank/Hamburg-Hansaport 10/25 Sept $17.00 fio

The Daily Fixture/Index List of 17th August, 2012

The Daily Fixture/Index List of 17th August, 2012

The Daily Fixture/Index List 17/08/2012


BDI 714 DOWN 6

BCI 1095 DOWN 10

BPI 806 UP 5

BSI 841 DOWN 6

BHSI 496 DOWN 6


TIMECHARTER

'Golden Beijing' 2010 175820 dwt dely Mundra 20/28 Aug trip via
Black Sea
redel Far East via gulf of Aden $10250 daily - Richstone
'Pleione' 1996 70189 dwt dely Dandong ppt trip via US Gulf redel
Singapore-Japan $6500 daily - Cargill
'Mass Enterprise' 1993 69555 dwt dely Indonesia 18/23 Aug trip redel
Singapore-Japan $5000 daily + $70000 bb - NCS
'Heilan Song' 2011 56851 dwt dely dop Kandla 19/25 August trip via
PG redel
India $10000 daily - Siva Bulk
'Shropshire' 2009 56811 dwt dely passing Singapore spot trip via
Indonesia
redel full India $7250 daily - Siva Bulk -
'Madonna lll' 2007 53390 dwt dely aps Indonesia spot trip redel EC
India
$8000 daily + $90000 bb - cnr
'Maria D' 2002 51514 dwt - reported to be
incorrect>
'Uni Challenge' 2012 29078 dwt dely passing Singapore spot 2/3 laden
legs
redel Singapore-Japan $7000 daily - Pacbasin

PERIOD

'Little Prince' 2001 74133 dwt dely Hong Kong 22/24 Aug 4/6 months
trading
redel worldwide $8000 daily - Marubeni

ORE

'TBN' 160000/10 Dampier/Qingdao 3/7 Sept $6.60 fio scale/30000shinc -
Rio
Tinto

COAL

'Hanjin Esperance' 150000/10 Richards Bay/Rotterdam 5/19 Sept $6.10
fio

The Daily Fixture/Index List of 16th August, 2012

The Daily Fixture/Index List of 16th August, 2012

FIXTURES - 16/AUG/2012



Baltic Exchange Daily Fixture/Index List 16/08/2012


BDI 720 (DOWN 8) BCI 1105 (DOWN 15) BPI 801 (No change)

BSI 847 (DOWN 9) BHSI 502 (DOWN 4)

Last published BDTI 604 (No change) BCTI 586 (UP 3)


TIMECHARTER


'Rosco Plum' 2004 76801 dwt dely Lumut 18/20 Aug trip via Indonesia
redel S.China $6000 daily - OBS
'Rosco Lemon' 2002 75746 dwt dely Dalian 20/25 Aug trip via
Dalrymple Bay redel Japan $6000 daily - Cargill
'Maritime Hareshio' 2006 75740 dwt dely aps Indonesia end Aug trip
redel S.China $6000 daily + $78000 bb - Guodian
'Tian Zhu Feng' 2000 74201 dwt - daily plus $175000 bb>
'Hui Hong' 1995 71252 dwt dely EC South America 5/10 Sept trip redel
Singapore-Japan $14500 daily + $500000 bb - Bunge
'Global Oriole' 2012 58000 dwt dely aps Texas Gulf spot trip redel
Turkey $12600 daily - EFE
'San Antonio' 2012 55768 dwt dely aps Santos end August trip via
Jeddah redel Port Said intention sugar $10000 daily - WBC
'Dubai Energy' 2004 55389 dwt dely Singapore spot trip via Indonesia
redel India $8500 daily - Platina Bulkers
'Thor Independence' 2001 52407 dwt dely Canakkale spot trip redel
India min 40 days duration $22000 daily - cnr
'Maria D' 2002 51514 dwt dely aps Santos spot trip via EC South
America redel Continent $9000 daily - Copenship
'Ken Sirius' 2003 50337 dwt dely CJK 19/21 August trip via SE Asia
redel China intention nickel ore approx $7000 daily - Goodwill
'Sea Success' 1998 27287 dwt dely Chittagong prompt trip via EC India
redel Indonesia $3500 daily - Cargill

PERIOD


'Darya Bhakti' 2005 56045 dwt dely dop Lanshan 15/20 August 3/5
months trading redel worldwide $8900 daily - cnr
'Mimi Selmer' 2005 55711 dwt dely Japan spot 4/6 months trading redel
worldwide $8500 daily - Ultrabulk -
'Bianco Bulker' 2001 52193 dwt dely Jinzhou 19/21 August about
4/about 6 months trading redel worldwide approx $9000 daily - SK
Shipping

ORE


'TBN' 170000/10 Tubarao/Rotterdam 8/22 Sept $6.75 fio 6 days shinc -
TKS
'TBN' 165000/10 Esperance/Qingdao 2/11 Sept $9.30 fio scale/30000shinc
- STX Pan Ocean
'ZOSCO TBN' 160000/10 Saldanha/Qingdao 1/10 Sept $12.55 fio
scale/30000shinc - Kumba

Industry Updates 14th August,2012


INDUSTRY UPDATES
14.08.2012
STEEL, METALS AND MINING
Close
COAL.
India ministry of coal allocates 195 coal blocks

Mr Pratik Prakashbapu Patil minister of state in the ministry of coal informed that government has allocated a total of 195 coal blocks stand allocated to various public and private sector companies. Out of the allocated coal blocks, 30 coal blocks have started production.

The remaining coal blocks which have not started production so far, are in various stages of obtaining statutory clearances and mining lease, preparing mining plan, acquisition of land, procuring machinery and equipment etc for both mining as well as end-use project.

The Minister further stated that the development of coal blocks involves a gestation period of 3 to 5 years for reaching the production stage and another two to three years for reaching the optimal production capacity. As per the guidelines, coal production from captive coal block should commence within 36 months (42 months in case the area falls in forest land) in case of open cast mines and in 48 months (54 months in case the area falls in forest land) in case of under ground mine, from the date of allocation. If the coal block is not explored, additional two years are allowed for detailed exploration and three months for preparation of geological report.

Mr Patil said that the responsibility of developing the coal block as per the prescribed guidelines and milestone chart attached with the allocation letter rests entirely with the allocatee company. In the terms and conditions of the allocation letters, it is categorically mentioned that in the event of willful delay in the development of coal blocks and in setting up of the end use project, the Government will take appropriate action to de-allocate the said block.

Further, the allocatees have to submit Bank Guarantee which remains valid at all the times till the production from the coal block reaches its peak rated capacity. The Coal Controller's office monitors on regular basis the achievement of different milestones. Government periodically monitors and reviews the development of allocated blocks as well as end use plants by the allocatee companies in the Review Meetings. As on date, based on the recommendations of review committee meetings held, the Government has de-allocated 25 coal blocks. Further, an Inter-Ministerial Group (IMG) under the Chairmanship of Additional Secretary (Coal) with representatives from the Ministries of Power, Steel, Law & Justice and Departments of Economic Affairs and Industrial Policy and Promotion has been constituted on 21.06.2012 which inter-alia would undertake periodic review and monitor the progress of allocated coal/lignite blocks and make recommendations on action to be taken including de-allocation, if required.
(Steel Guru)
Sail approaches government for more coal blocks
In an effort to get at least 25-30 per cent coking coal from indigenous sources, Steel major SAIL has approached the government seeking allotment of more coal blocks. "We want to source at least 25 to 30 per cent coking coal from indigenous sources. Our target is to get 7/8 million tonne coking coal from indigenous sources," SAIL Director (raw materials & logistics) A K Pandey told PTI here.

At present, out of its total requirement of 14 mt, the company has managed to source about 3.5 mt of coking coal mainly from Coal India Ltd besides its own mines. Pandey said, at present, the company has to spend a whopping Rs 12,000 crore for importing around 11 mt coking coal.

SAIL's requirement of coking coal would go up to 21 mt when its capacity would increase to around 24 mt from the existing 14 mt by next year.

Higher input cost was one of the reasons which has affected the company's bottom-line as SAIL reported 18 per cent dip in net profit at Rs 696 crore for the first quarter ended June, 2012.

Stating that SAIL had got two coal blocks at Jharia coal belt in Jharkhand, Pandey said the company has approached the government for some more coal blocks in Jharia.

"Being a PSU, we have requested the government to allot us a few more coal blocks through government disposition route and we are expecting it," he said.
Govt not to reconstitute GOM on opening up of coal sector
The government has decided not to reconstitute the Group of Ministers (GoM) which was formed to evolve a consensus on opening up of coal sector for commercial mining.

The Daily Fixture/Index List of 13th August, 2012

The Daily Fixture/Index List of 13th August, 2012

FIXTURES - 13/AUG/2012



Baltic Exchange Daily Fixture/Index List 13/08/2012


BDI 764 (DOWN 10) BCI 1158 (DOWN 11) BPI 804 (DOWN 10)

BSI 877 (DOWN 9) BHSI 523 (DOWN 8)

Last published BDTI 612 (DOWN 1) BCTI 581 (DOWN 1)


TIMECHARTER


'Kambanos' 2010 87328 dwt dely EC South America 22/27 Aug trip redel
Continent $8000 daily + $275000 bb - cnr
'Navios Star' 2002 76662 dwt dely Kosichang spot trip via Indonesia
redel Taiwan $6250 daily - Noble -
'Tina' 2000 75933 dwt dely Longkou 14/19 Aug trip via Dalrymple Bay
redel Japan $5000 daily - Cargill
'Alpha Harmony' 2001 74492 dwt dely EC South America 12/20 Sept trip
redel Singapore-Japan $14250 daily + $425000 bb - Louis Dreyfus
'Ecola' 2001 73931 dwt dely psg Cape of Good Hope 24/25 Aug trip via
EC South America redel Singapore-Japan $10750 daily + $225000 bb -
Cargill
'Coal Glory' 1995 73670 dwt - the Coal Age as reported 13/08>
'Future' 1999 72893 dwt dely Kushiro 11/13 Aug trip via US Gulf
redel Singapore-Japan $7000 daily - Daeyang
'Premnitz' 1994 72873 dwt dely Nordenham 18/23 Aug 2/3 laden legs 1st
via Murmansk redel Skaw-Cape Passero $7000 daily - Norden
'Senorita' 2008 58300 dwt dely USGulf spot trip redel E Med
intention scrap approx $13250 daily - Cargill - fixed and remained in the market>
'Sandpiper Bulker' 2011 57809 dwt dely passing Singapore spot trip
via Samarinda redel EC India $7500 daily - ISL

ORE


'EdF Trading TBN' 170000/10 Port Hedland/Qingdao 23/27 Aug $6.80 fio
scale/30000shinc - BHP Billiton
'Winning Diligence' 2006 Sinochart relet 170000/10 Port
Hedland/Qingdao 21/25 Aug $6.75 fio scale/30000shinc - BHP Billiton
'Ianthe' 2009 160000/10 Saldanha/Qingdao 27 Aug/5 Sept $13.20 fio
scale/30000shinc - STX Pan Ocean
'Cape Claudine' 2011 160000/10 Dampier/Qingdao 27/31 Aug $6.70 fio
scale/30000shinc - Rio Tinto