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