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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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Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- The University of Queensland
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Planning Commission, India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
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