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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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- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
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