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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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Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
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