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