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