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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, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
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