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