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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
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