The Daily Fixture/Index List of 27th July 2012

The Daily Fixture/Index List of 27th July 2012

Baltic Exchange Daily Fixture/Index List 27/07/2012



BDI 933 (DOWN 25) BCI 1209 (DOWN 15) BPI 1031 (DOWN 27)

BSI 1069 (DOWN 30) BHSI 602 (DOWN 15)

Last published BDTI 640 (UP 7) BCTI 583 (No change)


TIMECHARTER



'Atalanta' 2010 82094 dwt dely Nordenham 4/6 Aug trip via Murmansk
redel north Spain $8500 daily - D'Amico
'Great Mind' 2011 76500 dwt dely Port Klang 5/8 Aug trip via
Indonesia redel south east Asia $9750 daily - LDH Energy
'Agios Efraim' 1998 73018 dwt dely Butterworth 4/7 Aug trip via IBT
redel Mauban $8500 daily - Cetragpa
'Chang Hang Hao Hai' 2011 58009 dwt dely aps Texas Gulf end
July/early August trip redel Turkey intention pet coke approx $16800
daily - Noble
'Bao Bright' 2011 56582 dwt dely Jintang spot trip via SE Asia redel
China intention nickel ore approx $5000 daily - cnr -
'Ocean Prefect' 2003 53035 dwt dely Hong Kong 27/29 July trip via S
China redel EC India approx $8500 daily - cnr - report 26/07>
'Speedwell' 2003 50329 dwt dely Continent end July/early August trip
redel USGulf approx $6500 daily - Clipper
'Zena C' 1994 43188 dwt dely Morocco spot trip via Continent redel
Turkey intention scrap $14500 - Oldendorff

PERIOD

'Oceanis' 2001 75211 dwt dely Xinsha 13/28 Aug 22/26 months trading
redel worldwide $9500 daily - cnr

ORE

Industry Updates Dated 27.07.2012


INDUSTRY UPDATES
27th July,2012
STEEL, METALS AND MINING
Indian iron ore mining mess - SC cancels mining lease to 6 steel makers

The Hindu reported that the India’s Supreme Court on Thursday cancelled the mining licenses granted by the Mr Shibu Soren government in 2006 to following companies
1. Monnet Ispat and Energy Ltd
2. Jharkhand Ispat Ltd
3. Prakash Ispat Ltd
4. Adhunik Alloys and Power Ltd
5. Abhijeet Infrastructure Ltd
6. Ispat Industries Ltd (Now JSW Ispat Steel)

A two judge Bench comprising Justices RM Lodha and HL Gokhale dismissed the appeal filed by these companies and upheld a 2009 order of the Jharkhand High Court that the Government has the right to reserve mines for public sector undertakings, including SAIL.

The licences were granted in 2006 by the Mr Shibu Soren Government. They were then forwarded to the centre for confirmation because a 1969 Union Government notification laid down that mining in the Ghatkuri Hill was reserved for PSUs and that licences could not be given to private companies.

Subsequently, the Mr Madhu Koda Government withdrew these licences against which the companies moved the Jharkhand High Court.

The High Court ruled that the state is not only the owner of all mines and minerals but has the inherent right to reserve any area for the use of PSUs. The High court, therefore, upheld the Jharkhand Government order withdrawing the licences. The companies then moved the apex court against this order.
(Steel Guru)

Crack Down on Mining : Goa to cancel 40 License
The Goa government has decided to cancel licences of 40 mines, whose delay in filing of `J form' under the `Goa, Daman and Diu Mining Concession Act 1987' had been condoned by the previous Congress-led governments.

Chief Minister Manohar Parrikar today said in the state Legislative Assembly that all the 40 licences would be cancelled within two weeks. Deadline for filing J form was November 22, 1988. But some of the forms were filed as late as 2005.

J form is necessary for conversion of old mining concessions granted during the Portuguese rule into formal leases. Parrikar said that only Union Government had the power to condone the delay.

Goa has 90-odd mining leases.
(Economic Times)
Close
COAL
Indonesia coal production reaches 150 million tonnes in H1

Production by Indonesia coal miners reached 150 million tonnes in the first half of this year which was equivalent to 45.2% of the country’s total target this year. Mr Thamrin Sihite director general of minerals and coal at the Energy Ministry said that total coal production was set at 332 million metric tons this year. He did not provide comparative figures for last year.

He said that around 120 million tons of the commodities were sold to overseas market such as China, India, Pakistan, Thailand and Sri Lanka. The remaining 30 million tons were sold in the domestic market. He said without elaborating on how to do so that “We need to boost production in the second half of this year.”

Mr Thamrin said that this coal production target was higher than the 132.35 million tons in 2004 and 290 million tons in 2011. Each year, 30% of coal must be sold in the domestic market with the rest to overseas market.

Mr Bob Kamandanu chairman of the Coal Mining Association said previously that coal production targets by Indonesia were set at 390 million tons this year, higher than the 332 million tons set by the government. The association takes into account the production by small coal companies, while the government does not include that data.

According to the Energy and Mineral Resources Ministry, Indonesia is the world second-biggest shipper of thermal coal with 20.8 billion tons of proven coal reserves.
(Steel Guru)
Indonesian coal swaps decline 4th day China prices slide

Ginga Petroleum Singapore Pte, Swap contracts fell for lower quality thermal coal from Indonesia declining for 4 day. Contracts for shipments to China also dropped.