INDUSTRY UPDATES on 23th October,2013

the industrial updates, as on 23/10/13.




(1) Coromandel International Q2 net down 32.5 pc at Rs 160 crore



Coromandel International Limited, a maker of fertilisers and pesticides, today said its consolidated net profit for the quarter ended September 30 fell 32.5 per cent to Rs 160 crore.



The net profit for the Murugappa Group firm in the same period last fiscal stood at Rs 237 crore.



The dip in net profit was due to to higher production costs and reduced subsidy income, said Kapil Mehan, Managing Director, Coromandel International Limited ( CILBSE -0.75 %).



However, the total income in September 2013 quarter stood at Rs 3,228 crore as against Rs 2,697 crore in the same period last fiscal.



"Strong and active monsoon has had a positive effect on all the agri-inputs business of the company during the quarter. Though the cost push pressures and the weakening of the rupee have impacted the financials, we are confident that our perseverance and focus of catering to the needs of the farming community through our diversified business will help us in achieving our long term business objectives," Mehan said in a press conference.



The consolidated EBIDTA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) for the quarter has registered a growth of 20 per cent over corresponding previous quarter excluding prior year subsidy income, he added.



The city-based company is a leading manufacturer of fertilisers, crop protection products and speciality nutrient products.



(2) Mills refuse to sell sugar cheap



Sugar prices on the Vashi wholesale market declined by Rs 15-25 a quintal for M-grade and Rs 5-13 for S-grade on higher selling pressure at upper level. Naka and mill tender rates were unchanged as mill refused to sell at a lower price, resulting in the volume dropping.

Activities were restricted at ample stocks are available in the market. Prices on domestic futures market dropped on profit booking. Jagdish Rawal of B. Bhogilal & Co said that in Vashi arrivals and local dispatches were routine. Demand for the fine variety continued to be higher ahead of Diwali. The market carries ample stocks and producers are continuously selling in local markets in absence of neighbouring

Fixtures report of 23th, October 2013

Baltic Exchange Daily Fixture/Index List 23/10/2013




BDI 1786 (DOWN 61)

BCI 2943 (DOWN 167)

BPI 2010 (DOWN 28)

BSI 1243 (UP 15)

BHSI 639 (UP 3)

Last published BDTI 617 (DOWN 4) BCTI 494 (DOWN 4)





Timecharter

============

'Tian Fu Hai' 1998 149000 dwt dely CJK prompt trip via Newcastle

redel China $19000 daily - Sea & Ocean



'Global Victory' HMM relet 1996 149000 dwt dely Guangzhou prompt trip

via Indonesia redel China-Japan range $19500 daily - cnr



'Trident Navigator' 2000 75607 dwt dely Songxia 23 Oct trip via

Indonesia redel India $15750 daily - cnr



'Rosco Banyan' 2010 74979 dwt dely Amsterdam 25/26 Oct trip via

Baltic redel Mediterranean $22500 daily - Atlantic Coal & Bulk



'Wadi Alkarnak' 1997 69999 dwt dely Bayuquan spot trip via Indonesia

redel India $12000 daily - Klaveness



'Belocean' 2011 58000 dwt dely S.Brazil end October trip redel Japan

$13500 daily + $350000 bb - Oldendorff



'Annika N' 2011 55768 dwt dely dop Ilichevsk 27/29 October trip

redel SE Asia $25000 daily - White Whale Shipping





Period

=======

'Alexandra' 2001 74756 dwt dely Yantai spot 4/7 months trading redel

worldwide approx $13500 daily - GMI



'Tenko Maru' 2008 58470 dwt dely north China early Nov 11/13 months

trading redel worldwide $11800 daily - Trafigura





Ore

====

'Frontier Bonanza' 2010 160000/10 Itaquai/Qingdao 5/14 Nov $25.10 fio

scale/30000shinc - RGL



'Samjohn Legacy' 2010 160000/10 magnetite Richards Bay/Qingdao 17/23