Published:
Damage to Japanese nuclear reactors seen to have minimal impact on Noble
No meaningful impact on the thermal coal demand is expected, as DBS understands peak-load plants in Japan are mostly oil-fired.
According to DBS, assuming Chinese, Korean and Southern Japanese steel mills take-up any shortfall from affected mills on reduced power supply, the damage to Japanese nuclear reactors and some steel mill closures following the 11 Mar 2011 earthquake should have minimal impact on Noble.
While the disaster may provoke a rethink on future nuclear power generation, there is no evidence as yet of a concerted global switch to thermal-coal plants.
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