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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck the country in the local economy, the shipping sector has also been greatly affected. Every day that goes by things become even more clearer as to the repercussions the Japan crisis will bring to the shipping industry.
Last week ended with Capesize rates averaging $ 10,718/day, an increase of $1,349 (14.4%) from a week ago. Panamax rates are averaging $16,693/day, a decrease of $ 28 (0.76%). Supramax rates are averaging $16,762/day, an increase of $304(1.84%). Handysize rates are averaging $11,704/day, an increase of $393(3.47%). The BDI remained unchanged on Monday to 1,585 points, which is still up by 3.5% on a weekly basis, but 50% down from the same week of the previous year.
In an analysis issued yesterday, shipbroker Golden Destiny said that as a result of the tsunami, many Japanese ports have been closed, causing disruptions in the cargo supply chain. Meantime, the earthquake in the north east Japan is expected to influence the volume of steel production. Reports of five closures at five steel mills in Chiba, Heihin, Muroran and Kimitsu will likely reduce ore imports. Some forecasts are suggesting that ore demand could decline by as much as 20-25m tones and 10 million tones of coking coal demand. On the other hand, it may spur steel exports from neighboring countries, China and South Korea, once the earthquake reconstructions start up.
“Furthermore, speculations surround the market that Japan could increase its thermal coal imports due to disruptions to Japan’s nuclear plants. Roughly 20% to 25% of Japan’s electricity is normally derived from thermal coal. Last news suggests that ten of Japan’s nuclear reactors and at least five thermal coal power stations are offline expected to resume operation in two weeks. Approximately there are 55 nuclear reactors in Japan and roughly a third of Japan’s electricity is normally derived from nuclear power. Currently, there is no any time frame for when Japan’s nuclear reactors will come back online. The Fukushima Daichi nuclear power plants that will be closed for an indefinite period of time, is Japan’s fourth largest nuclear power plant and has an installed capacity of approximately 4,100 megawatts.
Furthermore, weather has turned colder in central and northern Japan and has put a greater strain on electricity supply. The shutdown brings memories of July 2007, when seven reactors in the northwest Japan were closed due to an earthquake and remained shutdown till 2009. Japanese thermal coal demand increased moderately during that time and is likely to increase again in the upcoming months” said the Piraeus-based broker.
The tsunami has also wiped out the majority of coal stockpiles at coal fired power plants. Japan is the second largest coal importer in the world after China, importing an average of over 15 million tons of coal per month in 2010, which could drive increased demand for coal as the plants are restocked ( a potential positive for the boost of the dry panamax market). While ports remain closed and the current impact on dry bulk commodities’ demand is negative, it is expected that once ports reopen and the country begin its restructuring will result in increased chartering activity, since Japan is the world’s second largest customer for dry bulk commodities after China. The increase in demand for thermal coal will be positive influence for large size vessels (panamaxes and capesizes), while demand for steel and forest products will stimulate the handy and supramax market.
Meanwhile the US Grains Council reported significant damage to large numbers of agricultural facilities and production areas suggesting that the country may need to increase corn and wheat imports. Japan is currently the largest buyer of US corn and the second largest purchaser of US wheat and rice. Apart from imports, the closure of steel mills may also impact the shipbuilding industry as South Korean shipbuilders import around 25% of their steel plates they used for ship construction from Japanese steelmakers, such as Sumitomo Metal Industries. Industry sources estimate that South Korea’s top three shipbuilders, Hyundai, Samsung Heavy and Daewoo consume up to 600,000 tons of Japanese steel plates annually. “So far there has been a little impact from the quake in Japan, an official at Samsung Heavy Industries said. Japanese suppliers are shipping steel plates to us as usual and we have some stockpiles of steel plates as well.” However, shipbuilder’s earnings may deteriorate down the road due to potential tighter product supply and higher steel prices” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
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