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  • CHINESE COAL PRODUCTION IN OCTOBER ROSE BY 7.6% ON THE YEAR TO 9.8M TONNES/DAY, NATIONAL BUREAU OF STATISTICS DATA SHOWED
  • THE INTERNATIONAL ENERGY AGENCY'S LATEST WORLD ENERGY OUTLOOK (WEO) UPDATE SHOWS THAT, THE ESTIMATED DEMAND FOR COAL IN THE ASIA PACIFIC WILL INCREASE BY 492-MILLION TONNES OF COAL EQUIVALENT BY 2040
  • PTBA'S EXPORTS UP 39% AND ASP UP 13% YOY FOR THE PERIOD JAN - SEPT 2018
  • PT BUKIT ASAM TBK HAS SHIPPED 18.5 MILLION TONS OF COAL TO DOMESTIC AND OVERSEAS FOR THE PERIOD JAN TO SEPT 2018, UP 7.8% YOY
  • THE MEoMR OF INDONESIA HAS REVISED DOWN NOVEMBER 2018 COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS EXCEPT POWER PRODUCERS TO US$ 97.90 A TON
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Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
Baltic ExchangeThe Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is run out of Singapore and led by Chris Jones, the Baltic Exchange’s Head of Asia who is a former Sale & Purchase shipbroker with over 40 years of experience.  
 
Based on a new Baltic Escrow Form developed by the Baltic Exchange, the service will be subject to the Singapore Exchange’s (SGX) detailed compliance and money laundering procedures. OCBC Bank will be providing the joint deposit account.
 
To use the service the buyer needs to be a Baltic Exchange member, although there are plans to expand this in the future to support transactions where the seller or broker is a Baltic Exchange member.
 
Commenting on the new service Chris Jones said:
 
“There’s been a good deal of interest in this service since we initially announced it in April. We hope to expand this service to dispute-related issues such as bunkers in the near future.”
 
The service costs US$5,000 per side.
 
To register an interest in the service, Baltic members should email escrow@balticexchange.com when initial “Know Your Customer” checks will be undertaken.


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Recent News

Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...


Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.   ...


Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...


Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...


Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...


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