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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Planning Commission, India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
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