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Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
 The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore shipments to China, the largest consumer of the material, will average 60 million metric tons from September through December, UBS AG said in a report dated yesterday. That would exceed the record 59 million tons imported in the first quarter of 2011, data compiled by Bloomberg show.
Daily rents for the fleet of 1,297 capesize vessels that haul iron ore and coal advanced 1 percent to $31,329 a day, the highest since Nov. 25, according to the London-based Baltic Exchange. The exchange provides freight costs on more than 50 maritime routes. Rates have more than tripled since Aug. 1.
Iron ore imports to China are expected to slow in the next few months as the country’s growth moderates, steel prices fall and production declines, RS Platou AS, an Oslo-based investment bank, said in a weekly report e-mailed today.
“That said, a steep decline in iron ore prices could see sustained imports of iron ore despite easing demand,” the bank said.
Iron ore, coking coal and steel products account for 51 percent of dry-bulk seaborne trade, estimated at 3.56 billion tons for 2011, according to Germany’s DVB Bank SE, which specializes in transportation lending. An estimated 63 percent of the 1-billion tons of ore shipped by sea this year will go to China, according to UBS.
Imports Cheaper
Since early August imported iron ore has been cheaper to buy than ore mined in China, supporting shipping hire costs, Omar Nokta, a New York-based shipping analyst at Dahlman Rose & Co., said in an e-mailed response to questions. That’s only happened three or four times since 2008, he said.
Prices in China for the imported steel-making ingredient declined 8 percent this month, tempting buyers to delay purchases until prices fall even more, Plamen Natzkoff, a freight, iron ore and coal trader at London-based Ronly Holdings Ltd. said.
“The strength of demand is not what’s driving the volume of shipments, it’s the availability of the material that is driving the volume,” Natzkoff said by phone. Miners in Australia and Brazil expanded production in the last two or three months, sending prices lower, he said.
Chinese mines produced the equivalent of 315 million tons of iron ore of 63 percent iron content, while the country imported 619 million tons in 2010, the United Nations Conference on Trade and Development said in a report published in July.
The Baltic Dry Index, a broader measure of commodity shipping costs, advanced 0.8 percent to 2,173 points, the highest since Dec. 7. Shipping rates rose for all four vessel types that the Baltic Dry Index tracks. Panamaxes, the largest to navigate the Panama Canal, gained 1.1 percent to $16,702 a day. Smaller supramaxes rose 0.7 percent to $16,671 and handysizes climbed 0.4 percent to $11,911.
Source: Michelle Wiese Bockmann, Alaric Nightingale, Bloomberg, Hellenic Shipping
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Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- The University of Queensland
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
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