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