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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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Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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- Ministry of Transport, Egypt
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- Metalloyd Limited - United Kingdom
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- Indian Energy Exchange, India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
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- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- MS Steel International - UAE
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
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