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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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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- MS Steel International - UAE
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
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