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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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Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Eastern Energy - Thailand
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Indika Energy - Indonesia
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