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