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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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Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- VISA Power Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- The University of Queensland
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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