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