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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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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
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