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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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Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Planning Commission, India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
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