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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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Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
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