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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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