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