Baltic Exchange Daily Fixture/Index List 31/05/2013

Baltic Exchange Daily Fixture/Index List 31/05/2013

BDI 809 (DOWN 2) BCI 1336 (DOWN 3) BPI 795 (DOWN 11)

BSI 871 (UP 6) BHSI 533 (DOWN 4)

Last published BDTI 614 (No change) BCTI 589 (DOWN 4)


'Ocean Duke' 2010 180361 dwt dely Qinhuangdao ppt trip via EC

Australia redel Singapore-Japan $7000 daily - Polaris

'Shagangfirst Power' 2010 179257 dwt dely Immingham ppt trip via

Colombia redel Skaw-Cape passero $3300 daily - EdF

'Anangel Sailor' 2010 171680 dwt dely psg South Africa 20/22 June

trip via Nouadhibou & China redel psg South Africa $8200 daily -


'Cape Osprey' 1995 161448 dwt dely retro Xingang 26 May trip via

Gladstone redel S.Korea $7500 daily - Intergis

'Ningbo Seal' 2011 76000 dwt dely San Nicolas 12/17 June trip redel

Skaw-Cape Passero $8500 daily + $350000 bb - Noble

'Ever Mighty' 1996 75265 dwt dely Indonesia 12/17 June trip redel

S.China $5500 daily + $85000 bb - cnr

'Nyon' Norden relet 1999 73035 dwt dely US Gulf 10/20 June trip

redel China $10000 daily + $600000 bb - Beibu Gulf

'North Princess' 1996 71290 dwt dely Xiamen 5/10 June trip via

Indonesia redel S.China $4250 daily - Minmetals Logistic Zhejiang

'Carmencita' 2009 58773 dwt dely passing Singapore 2/5 June trip via

Indonesia redel WC India $12000 daily - Norvic Shipping

'Shropshire' 2009 56812 dwt dely Kosichang 1/2 June trip via

Indonesia redel China approx $6250 daily - cnr

'Angele N' 2010 55804 dwt dely US Gulf mid June min 75/max 150 days

redel worldwide $10250 daily + $420000 bb - WBC

'Fortune Wing' 2011 55650 dwt dely US Gulf 4/14 June trip int grain

redel Japan $21000 daily - Oldendorff

'Tigris' 2003 52454 dwt dely Surabaya 2/3 June trip via Indonesia

redel Japan $12500 daily - cnr -

'Ikaria Island' 1999 46677 dwt dely Jorf Lasfar prompt 2/3 laden legs

redel Atlantic $9750 daily - D'Amico

'Fiesta' 1997 29516 dwt dely WC South America prompt 2 laden legs

redel worldwide $10250 daily - Pacbasin -


'TBN' 170000/10 Tubarao/Rotterdam 17 June/1 July $7.40 per LT fio 6

days shinc - TKS

'SwissMarine TBN' 150000/10 Itaguai/Qingdao 20/30 June $18.20 fio

scale/30000shinc - Cargill

'Melite' 2004 60000/5 bauxite Kamsar/Aughinish 6/12 June $12.00 fio

24000shinc/15000shinc - Aquavita

'TBN' 49000/10 bauxite Kamsar/Point Comfort 14/20 June $12.25 fio

24000shinc/15000shinc - United

'K-Noble TBN' / -
read 7/16 July>


'Global Service TBN' 125000/10 Newcastle/Geojong 16/24 June $10.40 fio

40000shinc/30000shinc - KEPCO



Suzlon down 8% as January-March net loss widens to Rs 1,913 cr

Shares of Suzlon Energy slumped as much as eight per cent in morning trade on the bourses as the wind turbine major’s net loss for the quarter ended March 31 widened to Rs 1,912.72 cr.

Suzlon Group’s net loss for the quarter ended March 31 has widened to Rs 1,912.72 crore compared to Rs 300.24 crore in the same quarter a year ago due to non-routine costs and a competitive global wind sector.

Reacting to the poor numbers, shares of the company opened on a weak note at Rs 12.90, then fell 7.51 per cent to Rs 12.06 on the BSE.

Similar movement was witnessed on the National Stock Exchange as well, where the stock opened at Rs 12.80, then lost further ground and fell 8.42 per cent to Rs 11.95.

The slump in the counter was due largely to the poor earnings, besides, the broader market was also trading in negative territory, down 223 points over its previous closing price.

“This has been a very disappointing quarter. We faced both significant internal challenges on the liability management front, and externally with a highly competitive global wind sector,” company’s Group Head of Finance Kirti Vagadia said.

Nalco stock hits 52-week low intra-day

Nalco stock on Thursday came closer to its 52-week low of Rs 32.70 as it touched day’s low at Rs 34.35, but finished at Rs 34.55, down 1.29 per cent on the BSE.

According to analysts, market took a dim view of the integrated metal maker. Its net profit margin on sale has been gradually declining in the past years. In FY13, it has come down to below 10 per cent.

A metal analyst at Ambit Capital told Business Line net-to-sales margin has dropped to around 9 per cent.

“It had already come down from 33 per cent in 2007-08 to 13 per cent in 2011-12,” said another stock analyst of an institutional brokerage. Had it not been for non-operational income, Nalco would have made a net loss before tax, industry observers pointed out.

Total capex for FY14 has been planned at Rs 1,740 crore including Rs 900 crore proposed payment for NPCIL project, which is not paid yet. Other capex would include second wind power mill (in Rajasthan), Utkal coal block, alumina refinery up gradation, joint venture with GMDC.

Some of the analysts, who attended conference call with the management on Wednesday, mentioned that the capex would reduce other incomes.

The management conceded that about 25 per cent of the total pots remained shutdown mainly keeping in mind the falling LME and uncertainty over coal supply. Though, the company believed, that for the full year 100 per cent linkage coal should be available, the distribution is likely to be erratic. Due to pot shutdown metal production is likely to be lower by 30 per cent in FY14.

US genetically modified wheat stokes fears, Japan cancels tender

A strain of genetically modified (GM) wheat found in the US fuelled concerns over food supplies across Asia on Thursday, with major importer Japan cancelling a tender offer to buy US grain.Other top Asian wheat importers South Korea, China and the Philippines said they were closely monitoring the situation after

Baltic Exchange Daily Fixture/Index List 29/05/2013

FIXTURES - 29/MAY/2013

Baltic Exchange Daily Fixture/Index List 29/05/2013

BDI 818 (DOWN 4) BCI 1348 (UP 2) BPI 821 (DOWN 17)

BSI 859 (UP 1) BHSI 543 (DOWN 2)

Last published BDTI 609 (UP 3) BCTI 596 (UP 2)


'Marvellous' 2000 169225 dwt dely Caofeidian spot trip via Newcastle

redel Yonghong $8000 daily - Daelim

'Mykonos Wave' 2012 87340 dwt dely Tyne 30 May/5 June trip via

Murmansk redel China $13500 daily - Aquavita

'Blue Wave' 2011 87334 dwt dely Hong Kong 31 May/5 June trip via

Indonesia redel S.China $5000 daily - Norden -

'Navios Titan' 2005 82597 dwt dely Indonesia 7/12 June trip redel

China $5000 daily + $100000 bb - Cargill

'Atlantic Prime' 2011 82100 dwt dely Tanjung Bin 30 May/5 June trip

via EC South America redel Singapore-Japan $8850 daily - Phaethon

'Georgitsu' 2012 81310 dwt dely Amsterdam 30/31 May trip via Baltic

redel Skaw-Gibraltar $9250 daily - E.On

'Opal Stream' Cobelfret relet 2003 76845 dwt dely aps Indonesia 5/10

June trip redel Malaysia $6000 daily + $90000 bb - SW Shipping -

'AOM Milena' 2009 76606 dwt dely aps Indonesia 1/5 June trip redel

S.China $6200 daily + $70000 bb - cnr

'Maritime Bagui' 2006 76465 dwt dely aps Geraldton 11/16 June trip

redel China $6500 daily + $225000 bb - Oldendorff

'Rosco Lemon' 2002 75746 dwt dely Tanjung Bin 29/31 May trip via

Indonesia redel India $7750 daily - Klaveness -

'Red Seto' 2002 75666 dwt dely San Ciprian 29/31 May 2 laden legs

redel Singapore-Japan $12000 daily - Medmar

'Kea' 2010 75600 dwt dely EC South America 7/12 June trip redel

China $13600 daily + $360000 bb - Pacific Bulk

'Ever Blossom' 1997 72517 dwt dely aps Indonesia 4/7 June trip redel

S.China $6000 daily + $80000 bb - Louis Dreyfus

'Genco Ardennes' 2009 57970 dwt dely Port Kelang spot trip via SE

Asia redel S.China approx $11500 daily - cnr

'Mandarin Singapore' 2011 56723 dwt dely Rizhao spot trip via SE

Asia redel China intention nickel ore $6500 daily - cnr

'TTM Dragon' 2010 56000 dwt dely aps NoPac mid June trip redel

Singapore-Japan $8000 + $325000 bb - cnr


'Darya Gayatri' 2012 81874 dwt dely Hamburg 28/30 May 60/90 days

trading redel Skaw-Cape Passero $9000 daily - Oldendorff


'Shagang TBN' 170000/10 Port Hedland/Qingdao 5/7 June $7.35 fio

scale/30000shinc - BHP Billiton

'TBN' 170000/10 Port Hedland/Qingdao 5/10 June $7.30 fio


the following Gearless Container Feeder for

Vessel is mainly trading between China (Fujian region) and Japan

Brief Details

DWT 7,735 ON 6.85 M
LOA 126.72 M / B 16.5M 
550 TEU (330 TEU AT 14 TONS)
M/E: MAK 6M552C 4500 KW AT 500 RPM
G.T 5,299 / N.T 2,587

(All details given in good faith but without guarantee)


Vedanta Resources raises $1.7 billion in country's largest offshore bond offering

Vedanta Resources Plc., has announced the pricing of its offering of bonds in the aggregate principal amount of $1.7 billion. The bonds are being offered and sold in two tranches, consisting of (i) $1.2 billion aggregate principal amount of 6% bonds due January 2019 and (ii) $500 million aggregate principal amount of 7.125% bonds due May 2023.

In a statement issued on Thursday, Vedanta termed it as a landmark transaction for the company and said it believes this represents one of the largest corporate high yield bond issuances out of Asia,ex-Japan.

Vedanta intends to use the proceeds of the offering to refinance a portion of its obligations under its existing 2010 term loan facility that was entered into to partly finance Vedanta's acquisition of a controlling stake in Cairn India. This is likely to result in a cancellation of Vedanta's commitments under a bridge facility, and to pay related fees and expenses and for general corporate purposes.

Commenting on it, Anil Agarwal, chairman of Vedanta Resources Plc., said: "This transaction demonstrates the financial strength and global recognition of Vedanta Group as a major natural resources corporate. It is our fourth bond transaction and each time we have been met with increasingly overwhelming response by investors."

The bonds are being offered and sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended ("Securities Act"), and outside the United States under Regulation S under the Securities Act. The offering is expected to close on June 3, 2013, subject to customary closing conditions.

Bank of America Merrill Lynch, Barclays, Citigroup, J.P. Morgan, The Royal Bank of Scotland and Standard Chartered Bank are acting as joint global coordinators, joint lead managers and joint bookrunners and Deutsche Bank is acting as joint bookrunner.

Wheat spot market seen steady

A steady trend is likely to be witnessed in the coming days in the physical market, while futures market may remain positive on buying interest, said trade experts.

Around 2,500 bags of wheat arrived at the Karnal Grain Market Terminal on Friday.

In the physical market, after witnessing an uptrend earlier this week, Dara wheat ruled flat and quoted at Rs 1,405-1,410 a quintal. Mill delivery was at Rs 1,405, while delivery at the chakki was at Rs 1,410.

Desi variety was sold at Rs 2,300. Steady domestic demand and easy availability of stocks kept dara wheat and flour prices unchanged, said Radhey Sham, a wheat trader. In Delhi’s Lawrence road market, a benchmark for the country, wheat mill quality traded at Rs 1,550-1,590.

On the NCDEX,June contracts increased by Rs 10 and traded at 1,595 a quintal. According to the market experts, increased demand for the commodity mainly led to rise in wheat prices.

While, wheat spot prices on the exchange went up by Rs 5 and traded at Rs 1,460 .

With a steady trend in wheat, flour remained unchanged and quoted at Rs 1,670 . Similarly, Chokar ruled flat and sold at Rs 1,250-1,275 a quintal.

Sugar turns sour on sluggish offtake

Sugar prices declined by Rs 10-20 a quintal on Friday on slack demand and higher sales. A drop in the futures market added to the bearish trend.

In the Vashi wholesale market, spot prices dropped by Rs 10 on higher arrivals from producers. Naka prices dipped by Rs 10-20 tracking Rs 20 drop in mill tender rates. Sentiment was weak, said sources.

A wholesale trader said that prices in physical and futures markets continued the bearish trend, tracking slack physical demand and improved chances of import due to lower international prices.

Supply is ample in local markets in absence of neighbouring States’ buying. Vashi market reopened after three week’s long continuous closing but demand could not improve as expected and it remained subdued, he said.

In the Vashi wholesale market, arrivals were about 68-70 truckloads (of 100 bags each) but slack local demand kept dispatches limited to about 48-50 truckloads.

Inventories in the Vashi market increased for the second consecutive day due to lower retailers’ offtake.

On Thursday evening, merely 11-12 mills offered tenders and sold 20,000-25,000 bags at lower price of Rs 2,940-3,020 (Rs 2,960-3,020) for S-grade and Rs 3,040-3,120 (Rs 3,070- 3,120) for M-grade.

On the NCDEX, sugar June futures dropped further by Rs 38 to Rs 3,017, July by Rs 31 to Rs 3,073 and August by Rs 38 to Rs 3,129 .

The Bombay Sugar Merchants Association's spot rates were: S-grade Rs 3,122-3,201 (Rs 3,127-3,232) and M-grade Rs 3,212-3,426 (Rs 3,232-3,421).

Naka delivery rates: S-grade Rs 3,030-3,090 (Rs 3,050-3,100) and M-grade Rs 3,140-3,200 (Rs 3,150-3,220).

Coal India must meet full requirement under fuel supply pacts: CERC

The Central Electricity Regulatory Commission (CERC) has said that Coal India should meet the full requirement under fuel supply agreements (FSAs) with power utilities.

The regulatory body’s views have come after the Power Ministry sought its advice on two issues.

One, whether the existing policies permit Coal India to meet its FSA commitments (for post-March 2009 power projects) through supply of imported coal on cost-plus basis.

Two, whether the additional cost of imported coal under the existing provisions of power purchase agreements (PPAs) can be allowed to be passed through. On May 20, CERC told the nodal Ministry that it was Coal India’s responsibility to meet the full requirement under FSAs even if it has to resort to imports.

Strong monsoon phase seen into first week of June

All available indications point to a strong phase of South-West monsoon in the first week of June, after seasonal rains break over Kerala coast. This would be underwritten by a wet phase of Madden-Julian Oscillation (MJO) wave that passes above the Indian Ocean during this period.


Though travelling high up, the wave is able to influence ground weather by facilitating formation of clouds, precipitating rains, even triggering storms and monsoon onset. The Climate Prediction Centre of the US National Weather Services has said that the Indian Ocean, South India and Sri Lanka are expected to get impacted.


The strong phase would kick off from May 28 and last for 11 days until June 7. Gusty winds might bear down over Kerala and Konkan-Mumbai coasts and trigger copious rain. Rains may relent later, depending on how monsoon dynamics become established by that time.

Normally, a strong phase helps monsoon shift to auto-pilot, which means that the strength of the flows would be enough to carry it along with or without an MJO wave.

Available indications suggest that this could indeed be the situation, and the monsoon is shown as running up whole peninsula and East India thanks to concurrent activity in the Bay of Bengal. US forecast models have also indicated thatJune could likely witness normal to above normal rainfall.

Meanwhile, India Met Department said on Thursday that rainfall could scale up along the West Coast and Lakshadweep from Sunday.

This would set the stage for copybook-style conditions culminating likely in onset of the monsoon early next week, according to international weather models


A prominent pre-monsoon atmospheric formation is already setting up a chain of thunderstorms over peninsular and South India.

The weather-setting trough of lower pressure runs from South Jharkhand to South Tamil Nadu across South Chhattisgarh and interior Andhra Pradesh.

The trough receives moisture from the seas on either side, which combines with the hot air to set up clouds and thundershowers along the line. Thundershowers are forecast to break out over Kerala, Karnataka, Lakshadweep, South Konkan, Goa, South Madhya Maharashtra, Andhra Pradesh and Tamil Nadu until Sunday.

Rasi Seeds buys Bayer’s hybrid corn seed business

Rasi Seeds Pvt Ltd has acquired the hybrid corn seed business of Bayer BioScience in India for an undisclosed sum. The acquisition will immediately help Rasi double its share in the fast growing Indian hybrid corn seed market, estimated at close to Rs 1,000 crore annually.

“Bayer was looking to divest its corn seed business for some time now and we have acquired it,” said M. Ramasami, Chairman and Managing Director, Rasi Seeds.

India was the only geography, where Bayer Crop Science had a presence in the corn seed segment, through its subsidiary BioScience.

However, Ramasami refused to comment on the deal size citing non-disclosures as part of the agreement, signed on Friday. The deal is expected to be completed by May 31.

Bayer was one of the top 10 players in the Indian corn seed market and its volumes were around 3,000 tonnes a year, almost same as that of Rasi.

Multinationals Pioneer Hi-Bred, a subsidiary of DuPont and Monsanto, followed by Syngenta are the major players in the Indian corn seed market estimated annually at close to 90,000 tonnes.

Besides bringing Bayer’s five to six hybrid varieties to Rasi’s portfolio, the acquisition will also give the Attur, Salem-based firm access to the multinational’s corn germplasm and breeding stations in Bangalore, Hyderabad and in North India, said Arvind Kapur, Chief Executive Officer of Rasi’ vegetable seed business.

“We aim to increase the corn seed volumes to around 10,000-12,000 tonnes in the next few years and will also explore the markets in South-East Asia,” Ramasami said.

Rasi clocked a turnover of over Rs 400 crore last year and earned bulk of its revenues from the Bt cotton hybrids.

Corn is one of the fastest growing cereal crops in India and its acreage has increased to 8.7 million hectares with production exceeding 20 million tonnes on rising demand from segments such as poultry and livestock feed and starch makers.

The Indian hybrid seed market estimated at $2.4 billion in fiscal 2013 is expected to grow to $3.2 billion by 2016 at an compounded annual growth of 11 per cent.

Kloeckner to cut 2000 more jobs as it sees crisis lasting longer

Reuters reported that German steel distributor Kloeckner & Co increased planned job cuts to more than 2,000, the third time it has broadened the scope of its restructuring program in less than a year.

Kloeckner said on Friday it now planned to cut more than 2,000 jobs, or 17 percent of the workforce, by the end of 2013 and shut 70 sites around the world to boost its annual operating earnings by EUR 160 million from next year.

When it announced the restructuring program in 2011, Kloeckner had planned to cut 700 jobs. It last said in November it would reduce its headcount by 1,800.

CEO Mr Gisbert Ruehl told investors at Kloeckner's annual general meeting on Friday “The European steel industry is in a deep crisis that will certainly last a while longer.”

He added “There are signs that some small and medium sized competitors lacking access to capital markets were facing difficulties in obtaining financing.”

Nigerian govt recovers Ajeokuta Steel from Indian firm

It is reported that the Federal Government of Nigeria has recovered the Ajaokuta Steel Complex in Kogi State, after years of litigation.

Mr Smart Adeyemi a senator lawmaker representing Kogi state said that the federal government is also in the process of negotiating the return of the Iron Ore Mining Company, Itakpe, also the state.

The Federal Government has been locked in arbitration with Global Steel Holdings Limited and Global Infrastructure Limited at the International Chamber of Commerce, London, for the return of Ajaokuta since 2007.

The legal tussle started in 2008 when Global Steel dragged the federal government before the ICC.

The Indian firm was allegedly accused of going against the concessional agreement, which led to a face off between the firm and the company’s workers. The agreement was terminated in 2008 by President Umaru Musa Yar’Adua, who set up an Interim management Committee to oversee it.

The Daily Alang Report for Friday, 25 May 2013.

The Daily Alang Report for Friday, 25 May 2013.




DRY SHIP                 400

BOX SHIP                 432

TANKER                  422


PERIOD                                          # VESSELS                                         L.D.T (M.T)

THIS YEAR (2013)                                 133                                                1,299,412

PREVIOUS YEAR (2012)                       432                                                 4,332,796

THIS MONTH ( MAY 2013)                   16                                                     161,166

PREVIOUS MONTH (APRIL 2013)       31                                                     304,482

WAITING FOR BEACHING                  11                                                      107,732

EXPECTED VESSELS                            7                                                          57,494

Baltic Exchange Daily Fixture/Index List 23/05/2013

Baltic Exchange Daily Fixture/Index List 23/05/2013

BDI 828 (DOWN 1) BCI 1339 (UP 6) BPI 863 (DOWN 17)BSI 855 (UP 2) BHSI 551 (DOWN 1)Last published BDTI 603 (DOWN 2) BCTI 586 (UP 4)


'Yangtze Xing Xiu' 2013 81678 dwt  dely Guangzhou spot  trip via South
Australia redel Singapore-Japan $5000 daily - Klaveness
'Lucky Sunday' 2009 80372 dwt  dely aps Southwest Pass 7/11 June  trip
redel Singapore-Japan $9000 daily + $600000 bb - Beibu Gulf
'Ornak' 2010 79677 dwt  dely Aratu 11/16 June  trip redel
Skaw-Gibraltar $7100 daily + $310000 bb - Windrose
'Santa Paula' Bunge relet 2009 77171 dwt  dely aps Indonesia 25/30 May
redel Singapore-Japan $7000 daily + $120000 bb - cnr
'Medi Baltimore' 2005 76469 dwt  dely Campana 15/20 June  trip redel
Skaw-Cape Passero $8000 daily + $375000 bb - Cargill
'Grain Harvester' 2004 76416 dwt  dely Paradip 27/30 May trip via EC
South America redel Far East $8250 daily - cnr
'Jia Da' 2010 75500 dwt  dely Marin 22/23 May 1/2 laden legs trip
redel Gibraltar-Skaw $9000 daily - United

'Tian Du Feng' 2001 74201 dwt  dely Recalada 9/15 June  trip redel
Skaw-Cape Passero $8750 daily + $400000 bb - Cargill
'Navios Vega' 2009 58792 dwt  dely Nantong 22/26 May  trip via
Indonesia redel full India $9000 daily - PWSL
'KT Condor' 2011 58470 dwt  dely EC South America spot  trip redel
Singapore-Japan $14000 daily + $400000 bb - cnr
'STX Crocus' 2009 57629 dwt  dely Singapore 27/28 May  trip via
Indonesia redel S China approx $11500 daily - cnr
'Lan Hai He Le' 2011 57000 dwt  dely Shenzhen 26/30 May  trip via SE
Asia redel China intention nickel ore $8000 daily - cnr
'Gou Tou 001' 2010 56915 dwt  dely dop Valparaiso 5/13 June  trip via
Las Ventanas redel EC India $16800 daily - Noble
'Glovis Madrid' 2013 56730 dwt  dely Kohsichang 30/31 May  trip via SE
Asia redel Singapore intention sand $7000 daily - Sandchart Singapore
'Amoy Progress' 2011 56670 dwt  dely Fangcheng 30/31 May  trip via SE
Asia redel Singapore intention sand $7000 daily - Sandchart Singapore
'Bi Jia Shan' 2011 56600 dwt  dely dop Tuticorin spot  trip via
Indonesia redel EC India $7000 daily - cnr
'K.Brave' 2006 56070 dwt  dely Mississippi River 2/10 June  trip redel
Japan intention grain $18100 daily - Noble
'Pretty Lady' 2001 50169 dwt  dely NC South America end May  trip
redel W Africa intention clinker $22000 daily - Norden


'Diamond Sea' 2001 74274 dwt  dely Recalada 6/11 June 4/7.5 months
trading redel worldwide $9000 daily + $800000 bb - Louis Dreyfus


JSW Steel's production down 11% at 6.37 LT in April

JSW Steel's crude steel production fell 11 per cent to 6.37 lakh tonnes (LT) in April largely due to planned shutdown of units and lack of availability of quality iron ore.

The company, headed by Sajjan Jindal, had produced 7.15 LT of crude steel in April, 2012.

Its production of flat steel was down 13 per cent at 4.55 LT, while the long steel production declined by 17 per cent at 1.28 LT, JSW said in a statement.

Flat steel is largely used by automobile and consumer durables sectors, while long steel is used in the construction and infrastructure sectors.

"One of the blast furnaces at Vijayanagar works (in Karnataka) was under annual shutdown for 22 days and resumed operations on April 26, 2013 and therefore, the capacity utilisation was lower -- at 73 per cent Vijayanagar works," the company said.

Similarly one of its blast furnaces at Salem, Tamil Nadu was also under shutdown during April, 2013, leading to lower production of crude steel. The blast furnace at Salem resumed production on May 6, 2013, the company said.

"The availability of quality iron ore in sufficient quantities remained a challenge, impacting the production and capacity utilisation," it added.

The company had produced 8.51 million tonnes of crude steel in the last fiscal despite continuation of the iron ore crisis in Karnataka. Tomorrow it will be announcing its fourth quarter and annual financial results.

Shares of the company were being traded at Rs 686.95 apiece on the BSE during late afternoon trade, down 0.74 per cent from the previous .

Goa shipping industry plans to transport long-distance cargo

Hit by the ban on mining activities, Goa shipping industry is exploring a new avenue of carrying long-distance cargo from inland waterways to ports in the neighbouring States, passing through the Arabian Sea.
“Since there is an uncertainty over mining in Goa, we are exploring the possibility of using our ships for other kind of long-distance cargo,” Atul Jadhav, President of All Goa Barge Owners’ Association (AGBOA), said.
Around 300-odd barges carrying iron ore from different jetties to the Mormugao Port and Panaji Port have been rendered jobless, due to the Supreme Court ban on iron ore exports from Goa.
“The Indian National Centre for Ocean Information Services (INCOIS) has already conducted a study on Goa’s 105-km-long coastline and declared its water as partially smooth, which will give a right to the ships from the State to travel up to 12 nautical miles in the sea,” Jadhav added.
Ships in Goa, which are currently registered under the Inland Vessels Act, 1970, will have to be registered under the Merchant Vessels Act, 1958, to enable them to travel mid-sea.
INCOIS has already submitted its report to Goa’s Captain of Ports, who will have to forward it to the Union Ministry of Shipping.
Jadhav said that the barges would later be termed as “coastal vessels” and can carry cargo of different industries from Goa’s inland waterways to the ports in Mumbai or even up to Gujarat.
“Maharashtra and Gujarat governments have already got a study conducted by INCOIS, which has certified their waters as partially smooth,” he said.
Ship owners in Goa are also looking at the forthcoming industrial investment policy of Goa which will allow construction of jetties along the inland waterways.

Ahead of integration, Mittals reducing stake in JSW Ispat

Ahead of its full integration with the JSW group, one of the promoter entities of JSW Ispat Steel Ltd (formerly Ispat Industries, and now majority

Baltic Exchange Daily Fixture/Index List 22/05/2013

FIXTURES -  22/MAY/2013

Baltic Exchange Daily Fixture/Index List 22/05/2013

BDI 829 (DOWN 1) BCI 1333 (UP 12) BPI 880 (DOWN 19)
BSI 853 (UP 2) BHSI 552 (DOWN 2)
Last published BDTI 605 (DOWN 4) BCTI 582 (DOWN 3)


'Corinthian Phoenix' 2009 179223 dwt  dely Continent ppt  trip via
Ponta da Madeira redel Continent $4000 daily - Cargill
'Star Laurel' ex Rubin Laurel 1995 167573 dwt  dely Hong Kong 25/27
May  trip via Taboneo redel Samcheonpo $8000 daily - Dong-A Tankers
'Medi Antwerp' 2007 76000 dwt  dely Aughinish 21/26 May  trip via Riga
redel Skaw-Gibraltar $9500 daily - E.On
'Coronado' 2000 75706 dwt  dely aps Lyttelton 8/17 June  redel China
$6500 daily + $320000 bb - Klaveness
'Sapphire' EdF relet 1999 75574 dwt  dely aps Maura Pantai 1/5 June 
redel Hong Kong $6650 daily + $95000 bb - Oldendorff
'Great Wisdom' 2000 74293 dwt  dely retro Paradip 16 May  trip via EC
South America redel Singapore-Japan $8800 daily - cnr
'Georgios S' 2001 74249 dwt      -
'Bulk Colombia' 2011 57937 dwt  dely W Africa spot  trip via EC South
America redel Singapore-Japan approx $14000 daily - cnr
'Bao Yun Sheng' 2011 56928 dwt  dely Guangzhou spot  trip via
Indonesia redel India $9000 daily - cnr
'Amoy Dream' 2010 56874 dwt  dely Fangcheng spot  trip via SE Asia
redel China intention nickel ore $8000 daily - cnr
'Parnon' 2011 56498 dwt  dely Tuticorin spot  trip via Indonesia redel
India $6750 daily - cnr -
'Anna-Meta' 2010 56280 dwt      -

were incorrect, vessel was reported to have fixed on voyage basis>
'Anna Maria' 2007 55423 dwt  dely Tuticorin spot  trip via South
Africa redel Singapore-Japan $8250 daily + $15000 ap - Oldendorff
'Genco Loire' 2009 53100 dwt  dely dop Jakarta spot  trip via
Indonesia redel EC India $12000 daily - cnr
'Furness Karumba' 2001 52551 dwt  dely WC Italy spot  trip via NC
South America redel Singapore-Japan $12250 daily - Noble
'Rachel' 2006 52297 dwt  dely EC South America spot  trip redel SE
Asia intention bulk sugar $13500 daily + $350000 bb - WBC


'Diamantina' 2010 82094 dwt  dely retro psg Gibraltar 17 May 60/100
days trading redel Skaw-Cape Passero $9500 daily - Copenship
'Darya Uma' 2005 76520 dwt  dely Yosu 1/5 June 3 years trading redel
worldwide $9500 daily - cnr


'Ocean Lord' 2005 80000/10 San Nicolas & Tubarao/Zhanjiang & Qingdao
1/10 June $37.00 fio 14000shinc/10000shinc & 25000shinc - Vale
'W Eagle' 2011 65000/70000/00 Kirkenes/Bahrain 27 May/3 June $32.00
fio 40000shinc/20000shinc - cnr -


'Noble TBN' 150000/10 Abbot Point/Gangavaram 5/14 June $11.70 fio