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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, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
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