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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, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
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