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