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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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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- VISA Power Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
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