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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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Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
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- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
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