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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- The University of Queensland
- Eastern Coal Council - USA
- Economic Council, Georgia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
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