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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, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
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