As for the ingredients used to make steel, the global trade in iron ore and coking coal will likely see a falloff in demand, though not a drastic one, said Jeffrey Landsberg, analyst and founder of Commodore Research, which tracks dry-bulk shipping and the iron ore market for industry clients as well as investors.
Meanwhile, 10 of Japan's 55 nuclear reactors were offline as of Sunday, Landsberg wrote in a report Monday. About 33% of the nation's electrical needs come from nukes. That means the country will need to boost production at other forms of power plants, including coal (20% to 25% of Japan's electrical generation) and natural gas. Imports of thermal coal by the island nation will likely see an increase. An earthquake in 2007, Landsberg noted, resulted in the country's largest nuclear plant being idled for nearly two years, which lifted thermal coal imports by about 15%.
As for liquefied natural gas, Japan was already the world's largest importer of the product. Specialist LNG shippers saw their stocks rise sharply Monday. Tsakos Energy (TNP) was up nearly 6% to $9.93, while Golar LNG (GLNG) was jumping 7.8% to $20.10, having earlier touched $20.53, a 52-week high.
-- Written by Scott Eden in New York>To contact the writer of this article, click here: Scott Eden. >To follow the writer on Twitter, go to http://twitter.com/ScottEden. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV