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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
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