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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
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