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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, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Economic Council, Georgia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Lanco Infratech Ltd - India
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