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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, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Indika Energy - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
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