Sugar seen gaining on retail demand

Retail offtake of sugar is expected to rise the next two days as Maharashtra traders are likely to intensify their strike against the local body tax.
Sources said that the traders, including those in sugar, dry fruits, spices, gur, colour and chemicals, coconut and others business, have decided to join the strike from May 1.
The trend was reflected in the futures market, where prices were up by Rs 23-24 on expectation of higher physical demand ahead of the indefinite bandh from Wednesday, said sources.
On Monday, sugar prices on the Vashi wholesale market ruled steady with the fine quality gaining marginally and the fair quality dropping a tad as local demand was thin.
In the spot market, prices dropped by Rs 5-10, while naka rates showed a mixed trend. Mill tender rates ruled unchanged due to subdued demand. In the Vashi market, new arrivals were about 62-63 truckloads, while local off take was about 63-64. On Saturday evening, 8-10 mills offered tenders and sold 25,000-30,000 bags at Rs 2,900-2,970 (Rs 2,900-2,970) for S-grade and Rs 2,980- 3,060 (Rs 2,980 - 3,090) for M-grade.

Steel mills push exports through discounts

India’s steel exports surged more than 14% in the fiscal year ended March, not so much by capturing new markets than clearing inventory though discounts.

The discounts were pegged at 2-3%, more on bulk sales, to countries in West Asia, South-East Asia, the South Asian Association for Regional Cooperation (Saarc) and Africa, mainly on steel used in construction, white goods and electrical applications, company executives and analysts said. “It is not very remunerative to export…this is an export made in desperation,” saidNarendra Chaudhary, a mining and metals consultant and former executive vice-president and chief executive for Asia, Africa and East European countries for ArcelorMittal, the world’s biggest steel maker. “You can’t compare exports of pre-2008 to exports now.”
Inventory at three companies—Steel Authority of India Ltd (SAIL), Tata Steel Ltd and Rashtriya Ispat Nigam Ltd—stood at 1.39 million tonnes (mt) at the end of December, double the 691,000 tonnes from a year ago, according to data from Oreteam, a steel and iron ore information website.

“All of them are seeing low sales in India so they are looking here and there trying to find new markets,” said Prakash Duvvuri, head of research at Oreteam. “This fiscal year, exports could rise and there could be some discounts again.”

Steel exports in 2012-13 rose 14.3% to 5.246 mt, according to official data. Exports form a small part of India’s total annual steel production of 78 mt, but are significant given the big plans for capacity expansion by all top companies that hope to cater not just to the domestic market but the neighbourhood as well.

Apart from this, rising imports of cheaper steel from China and increasing competition from foreign companies such as South Korea’s Posco and Japan’s Nippon Steel and Sumitomo Metal Corp.and JFE Steel Corp. that are entrenching themselves in India, mean local firms have to gain markets outside the country.

Tata Steel in strategic tie-up with Labrador Iron Mines

Tata Steel Ltd, India’s largest private sector steel maker, said on Tuesday that it has entered into a strategic tie-up with a Canadian iron ore company Labrador Iron Mines Holdings Ltd(LIM), whereby Tata Steel’s Canadian subsidiary will get access to greater iron ore resources.

Baltic Exchange Daily Fixture/Index List 30/04/2013

FIXTURES - 30/APR/2013

Baltic Exchange Daily Fixture/Index List 30/04/2013

BDI 863 (DOWN 5) BCI 1273 (UP 13) BPI 1028 (DOWN 30)

BSI 888 (DOWN 7) BHSI 544 (DOWN 1)

Last published BDTI 621 (DOWN 2) BCTI 611 (DOWN 2)


'Bulk China' 2005 176274 dwt  dely Yantai 1 May trip via east coast
Australia redel China $6500 daily - Polaris
'Tiare' 2009 83688 dwt  dely Redcar 30 Apr/1 May trip via Santarem
redel Liverpool $9500 daily - Cargill
'Saint Visionary' 2013 81610 dwt  dely passing CoGH 5/7 May trip via
EC South America redel Singapore-Japan $13000 daily  + $620000 bb -
'Argo' 2005 77000 dwt  dely Recalada prompt trip Mediterranean redel
Passero $9000 daily + $400000 bb - ADM
'Samatan' 2001 74823 dwt      -
and is still open>
'Captain Diamantis' 2000 74757 dwt  dely Immingham spot trip via
Quebec redel Spain $9000 daily - Bunge
'Tian Tong Feng' 2001 74275 dwt  dely Gibraltar spot trip via US east
coast int coal redel Skaw-Passero $10000 daily - Solym
'Mykonos Seas' 2011 57000 dwt  dely NC South America early May  trip
redel Chile intention coal $20000 daily - Swiss Marine
'Kanchana Naree' 2011 56920 dwt  dely Saldhana Bay spot  trip via EC
South America redel Indian Ocean approx $13000 daily - Bunge
'Portland' 2009 56868 dwt  dely dop Montevideo spot  trip via R Plate
redel Egyptian med $12500 daily + $325000 bb - Egyptian Bulk Carriers
'Sweet Lady lll' 2006 55838 dwt  dely dop Ponta da Madeira early May 

trip via N Brazil redel Black Sea intention manganese ore $20500 daily
- cnr
'Cardinal' 2004 55408 dwt  dely USGulf spot  trip redel China
intention pet coke approx $20500 daily - Norden
'Sophia' 1996 45758 dwt  dely Durban spot  trip via EC South America
redel PG approx $13500 daily - Bunge
'Zina' 2012 33861 dwt  dely Up River 7/10 May trip redel Baltic approx
$17500 daily - cnr
'Warnow Venus' 2012 32387 dwt  dely Coatzacoalcos 11/15 May trip int
woodpellets redel Continent $13500 daily - Oldendorff


'Global Star' 2010 83601 dwt  dely Lianyungang 6/11 May 4/8 months
trading redel worldwide $8250 daily - Norden


'TBN' 160000/max Esperance/Qingdao 17/26 May approx $10.10 fio
scale/30000shinc - Richmark


Sierra Leone International Ship Registry has issued a Marine Notification regarding the voluntary compliance with the ILO MLC, 2006 requirements.

Although the Republic of Sierra Leone has not ratified the MLC, 2006 a voluntary inspection and
certification scheme has been set-up for the ships flying the Sierra Leone flag in order to avoid
complexities with the Port State Control Authorities. Through the Marine Notification 13-002 the Sierra
Leone International Ship Registry has laid out the requirements for the inspection and certification of
ships flying the Sierra Leone flag.
More specifically, the ship Owners should request the issuance of a DMLC Part I from the
Administration through the Registration Officers. The flag Administration will issue a ship specific DMLC
Part I for the ship.
Following the issuance of DMLC Part I, ship Owners shall submit for approval DMLC Part II complying
with the DMLC Part I. The Administration will endorse the DMLC Part II if found in compliance with
DMLC Part I. Copy of DMLC Part I and II endorsed by the Administration shall be kept on board and
should be provided to the inspector at the time of inspection/verification.
Flag inspectors will be carrying out inspections as outlined below:
 Initial inspection for the issuance of Interim “Statement of Compliance to Maritime Labour
Convention” valid for 6 months.
 Following verification of the reports, the Administration will be issuing a “Statement of
Compliance to Maritime Labour Convention” valid for 5 years.
 An intermediate inspection is to be carried out between the second and third anniversary
dates in order to endorse the Statement of Compliance.

The full Sierra Leone International Ship Registry Marine Notification may be found herewith attached.
Also, attached is the draft DMLC Part I of the Sierra Leone International Ship Registry.

Background information

The MLC, 2006 is aiming along with SOLAS, STCW, and MARPOL to be established as the four
cornerstones of maritime regulations.
The Convention is comprised of three different but related parts: the Articles, the Regulations, and the
Code. The Articles and Regulations set out the core rights and principles and the basic obligations of
Members ratifying the Convention. The Code contains the details for the implementation of the
Regulations. The Code comprises Part A (mandatory Standards) and Part B (non-mandatory Guidelines).
Amendment procedures for the Articles, Regulations, and the Code are established in Articles XIV and
The Regulations and the Code are organized into general areas under five Titles:
Title 1: Minimum requirements for seafarers to work on a ship
Title 2: Conditions of employment
Title 3: Accommodation, recreational facilities, food and catering
Title 4: Health protection, medical care, welfare, and social security protection
Title 5: Compliance and enforcement


JSPL shares hit 52-week low on disappointing Q4 results

Shares of Jindal Steel and Power (JSPL) today fell by over 3 per cent to hit a 52-week low level as the company’s consolidated net profit fell by nearly 35 per cent for the quarter ended March 31.
After making a weak opening, shares of the company further lost 3.13 per cent to Rs 318.50 — its 52-week low as the trade progressed on the BSE.
At NSE, the scrip went down by 3.34 per cent to touch a one-year low of Rs 318.20.
Hit by rising interest burden and lower sales realisations, JSPL’s consolidated net profit fell by nearly 35 per cent to Rs 760.27 crore for the quarter ended March 2013.
The Company had reported a net profit of Rs 1,167 crore in same quarter of previous fiscal.
Net sales during the fourth quarter of 2012-13 reported a growth of 2.16 per cent at Rs 5,583.33 crore. The company had reported a net sales of Rs 5,465.26 crore in the January-March quarter of 2011-12.

Flour mills’ buying holds up wheat

After witnessing a fall earlier this week, dara wheat and flour prices remained unchanged on Friday.Steady domestic demand coupled with ample stocks kept dara wheat and flour prices unchanged, said Radhey Sham, a trade expert.
About 60,000 bags of dara wheat arrived at the Karnal grain market terminal. Government agencies procured most of the produce that arrived.In the physical market, dara wheat quoted at Rs 1,410-1,415 a quintal.
Mill delivery was at Rs 1,410 while delivery at the chakki was Rs 1,415.On the National Commodity and Derivatives Exchange, wheat futures traded positive today.
Wheat for May contracts increased by Rs 3 at Rs 1,481 with an open interest of 11,300 lots. It had touched a high at Rs 1,484 earlier in the day. June contracts went up by Rs 5 at Rs 1,506.
Wheat futures trade positive on account of stockists buying against restricted arrivals. Fresh buying by flour mills to meet the current demand kept wheat prices at current levels.
According to the market experts, wheat futures are expected to rule lower next week.Wheat spot prices improved at Rs 1,385.

Sugar position comfortable for next 3 years: K.V. Thomas

Sugar production is seen satisfory for the next three years as output is expected to be above the domestic demand, said Food Minister K.V.Thomas on Friday.
"The next three years 2013-14, 2014-15 and 2015-16 will be comfortable for sugar," Thomas said based on the recent review of the performance of the sector with industry officials. He was speaking to reporters on the sidelines of an event organised by the Bureau of Indian Standards.
"The domestic requirement is about 22 lakh tonnes and we have enough sugar for exports," Thomas said adding that the shipments would depend on the prices in the international markets. Currently, it is unviable for the Indian millers to export sugar as the international prices are currently lower than the domestic prices.
"However, going ahead, our sugar production and productivty and value addition needs to be improved," Thomas said. In this context, a draft paper has been prepared by the Food Ministry on the improvements needed in the sugar sector. In the third week of May at the National Institute in Kanpur, we will chalk out the various projects to be taken up for the improvement of sugar sector, Thomas added.
India's sugar production declined to 24.6 million tonnes, down from the 26 million tonnes produced in the previous year. However, in 2013-14, the production may decline marginally due to the drought in key sugarcane growing areas of Maharashtra and Karnataka.
Iron ore steels for a fall as China growth eases
Iron ore prices have staged a strong rebound since falling last autumn to their lowest level since the global financial crisis in 2009 but analysts expect prices to edge moderately lower in the next few years on slow Chinese demand and addition of new supply.

Baltic Exchange Daily Fixture/Index List 25/04/2013

Baltic Exchange Daily Fixture/Index List 25/04/2013

BDI 872 (DOWN 7) BCI 1220 (UP 6) BPI 1121 (DOWN 44)

BSI 904 (DOWN 1) BHSI 544 (UP 1)

Last published BDTI 626 (DOWN 12) BCTI 620 (DOWN 9)


'C Phoenix' 2012 176000 dwt  dely El Dekheila 5/10 May  trip via Black
Sea redel Singapore-Japan $24000 daily - Aquavita
'Mineral Stonehenge' 2011 175713 dwt  dely Amsterdam 26/30 Apr 

transatlantic round redel Skaw-Cape Passero $3500 daily - Classic
'CMB Pauillac' E.On relet 2012 95707 dwt  dely psg Taiwan end Apr 

trip via Indonesia redel Taiwan $8500 daily - Dana Shipping
'Stefania Lembo' 2010 82101 dwt  dely CJK 1/6 May  trip via
E.Australia redel Singapore-Japan $10500 - cnr
'Atlantic Breeze' 2004 76267 dwt  dely Aughinish 1/6 May 2 laden legs
1st Lower Gove/Brazil limestone redel Singapore-Japan $15250 daily -
'Samjohn Liberty' 1998 74761 dwt  dely Immingham 2/3 May  trip via
Murmansk redel UKC $10250 daily - Golden Ocean
'Golden Seas' 2006 74474 dwt  dely Rotterdam 25/26 Apr 2 laden legs
1st via St.Petersburg with ferts redel Skaw-Cape Passero $10500 daily
- Oldendorff

'Chang Hang Hong Hai' 2011 58060 dwt  dely Surabaya early May  trip
via Indonesia redel WC India $13000 daily - DHL
'Genco Auvergne' 2009 58020 dwt  dely Singapore spot  trip via
Indonesia redel EC India $13500 daily - cnr
'Jin Zhou Hai' 2009 57000 dwt  dely Qinzhou early May  trip via SE
Asia redel China intention nickel ore $9000 daily - cnr
'Christos Theo' 2010 56838 dwt  dely S China spot  trip via Indonesia
redel EC India $9500 daily - Bulk Marine
'Tatjana' 2009 56758 dwt  dely aps Recalada spot  trip redel USGulf
$14000 daily + $85000 bb - Norden
'Annika N' 2011 55768 dwt  dely Phu My 26/28 April  trip via Indonesia
redel Japan intention coal approx $10000 daily - cnr
'July M' 2005 55567 dwt  dely Haldia spot  trip via EC South America
redel Singapore-Japan $9500 daily - Panacore
'Lowlands Opal' 2007 55381 dwt  dely EC South America spot  trip redel
Red Sea approx $12750 daily + approx $350000 bb - Oldendorff
'Rosina Topic' 2000 45251 dwt  dely aps Recalada spot  trip redel
Mediterranean $18000 daily - ED&F Man Shipping
'Yasa Anatolia' 2011 30130 dwt  dely Onahama 2/3 May trip via Japan
int steels redel EC India approx $7500 daily - SK Shipping


'CSK Fortune' 2003 170000/10 Port Hedland/Qingdao 8/13 May $6.99 fio
scale/30000shinc - BHP Billiton
'Cape Leonidas' 2010 170000/10 Port Hedland/Qingdao 11/15 May $6.99
fio scale/30000shinc - BHP Billiton

ALANG DEMOLITION INDICATOR (ADI) The Daily Alang Report for Thursday, 25 April 2013.


PERIOD# VESSELS          L.D.T (M.T)
THIS YEAR (2013)1041,001,729.9
PREVIOUS YEAR (2012)4324,332,795.6
THIS MONTH (APR 2013)18167,965.3
PREVIOUS MONTH (MAR 2013)     27271,583.9



PERIOD# VESSELS          L.D.T (M.T)
THIS YEAR (2013)1041,001,729.9
PREVIOUS YEAR (2012)4324,332,795.6
THIS MONTH (APR 2013)18167,965.3
PREVIOUS MONTH (MAR 2013)     27271,583.9