Russian shades of color on Swiss iron & steel trading
Starglobe is in profitable operation since 2007 from Lugano constantly doubling volumes and turnover
Lugano, Switzerland – Starglobe Ltd, a company registered in Limassol, Cyprus, but with operative headquarters in Lugano, is an international player in steel trading since about 5 years and is located in the building close to other traders Novex and Flame, an occurrence not so uncommon and emphasizing the role won by trading in Canton Ticino.“We’ve been established in 2007 by a Russian entrepreneur and operate through privileged business relations our owners hold with many important Russian iron & steel mills like MMK, Evraz, Severstal, DMZ, etc., while on the export side we do business with major industries and plants on the international market” says Stefano Eva, who joined Starglobe in July 2010 (after Flame and Carbofer), the company’s head of shipping department: “We export finished or partly finished products to service centers or second-step rolling mills to Italy, Brazil, the US, the Philippines, and to Vietnam, chartering ships between 1,000 and 20,000 dwt, as well as cast iron or iron scrap to Italy, Turkey, and the US chartering ships between 30,000 and 57,000 dwt”.
Starglobe yearly trades some 2 million tons of mostly iron & steel products (coils, billets, rods, iron scrap, etc.), with a turnover of 1 billion dollars in 2011. Last June the company appointed new CEO Michel Polli, while the commercial department is run, since January 2012, by expert Croatian manager Darko Bozinovski and his team including some traders who had parted course with Lugano-based Carbofer well before the latter trading company headed for bankruptcy. Other Carbofer’s coal traders found a job in Monaco-based newco Monaco Resource Group, controlling the ad hoc company Coal Resources SAM.
Steel trading is Starglobe’s unquestioned core business, although the company’s mission includes other commodities, “for instance, an opportunity not to be ruled out at first glance is to diversify in the iron ore or coal sectors, but this will depend on the possibility to get a privileged access to these goods by means of exclusive agreements” explains Eva.
“Today’s shipping market is someway blurred, maybe we’re at the historical low, but who’ll dare to say it for sure?” goes on the manager. “This juncture might involve a few good chances for buying ships or for chartering them for 3 or even 5 years, or otherwise for establishing some joint ventures. However, international trading is presently sailing on rough seas, that’s clear, so it appears wiser to keep cautious also in the shipping sector, as an excessively bold decision could turn out too risky, much more so if we take into account the global orderbook, with 800 ships ranging from handysize to Capesize scheduled for delivery within next year and totaling about 60 million dwt. For sure, trump charters are nowadays very interesting for charterers and don’t encourage them to enter long-term engagements” pinpoints Eva.
Starglobe’s charters ships from owners based in different countries: Greeks, Germans, Danes, but also Italians, including well-known Oldendorff and d’Amico.
The company’s involvement in the maritime sector decreased by 30% since the first quarter 2012 although, in absolute values, trading activities doubled year after year, as to both volumes and turnover.
“By now, we monthly charter in average 2 ships between 15,000 and 45,000 dwt for carrying iron scrap, a couple of ships between 20,000 and 57,000 dwt for carrying cast iron, and some 10 to 15 ships ranging from 1,000 to 15,000 dwt for iron & steel products, as well as signing a number of international part-cargo agreements for shipping coils, plates, and billets” concludes the head of Starglobe’s shipping department.
TAG : trading