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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Planning Commission, India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
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