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