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