Nuclear Sector On Edge As Japanese Crisis Unfolds
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With a nuclear crisis unfolding in Japan in the aftermath of last week's deadly earthquakes and tsunami, there is a dark cloud developing over the nuclear industry.
In the wake of the disaster, a number of nuclear plants in Japan have been shut down. The biggest concern remains the Fukushima Daiichi plant, where there is the potential of a partial meltdown inside two of the six reactors. Officials have been scrambling to cool the reactors and limit radiation leakage.
Due to the events in Japan, some suspect that future nuclear projects could be delayed or cancelled around the world as countries question the safety and risk of using nuclear as an energy source.
Companies and investors involved in the sector are nervous.
One such company, The Shaw Group Inc. (NYSE: SHAW), which provides construction services for the nuclear industry, has already issued a statement to calm nerves. "At this time, we do not believe there will be an impact on Shaw's nuclear projects currently under construction in the United States and China, said CEO J.M. Bernhard Jr.. "Our customers have indicated they intend to move forward, and we believe the construction timelines will continue as planned."
Other companies that provide various services to the nuclear sector are Fluor (NYSE: FLR), URS Corporation (NYSE: URS), Jacobs Engineering Group, Inc. (NYSE: JEC), Babcock & Wilcox Company (NYSE: BWC) and Chicago Bridge and Iron Company N.V. (NYSE: CBI).
In addition to construction and technical services, uranium suppliers may be at risk due to growing concerns about nuclear. Some leading uranium companies include: Cameco (NYSE: CCJ), Denison Mines (AMEX: DNN), Uranium Resources (NASDAQ: URRE), Uranium Energy (AMEX: UEC), and Uranerz Energy (AMEX: URZ).
In the wake of the disaster, a number of nuclear plants in Japan have been shut down. The biggest concern remains the Fukushima Daiichi plant, where there is the potential of a partial meltdown inside two of the six reactors. Officials have been scrambling to cool the reactors and limit radiation leakage.
Due to the events in Japan, some suspect that future nuclear projects could be delayed or cancelled around the world as countries question the safety and risk of using nuclear as an energy source.
Companies and investors involved in the sector are nervous.
One such company, The Shaw Group Inc. (NYSE: SHAW), which provides construction services for the nuclear industry, has already issued a statement to calm nerves. "At this time, we do not believe there will be an impact on Shaw's nuclear projects currently under construction in the United States and China, said CEO J.M. Bernhard Jr.. "Our customers have indicated they intend to move forward, and we believe the construction timelines will continue as planned."
Other companies that provide various services to the nuclear sector are Fluor (NYSE: FLR), URS Corporation (NYSE: URS), Jacobs Engineering Group, Inc. (NYSE: JEC), Babcock & Wilcox Company (NYSE: BWC) and Chicago Bridge and Iron Company N.V. (NYSE: CBI).
In addition to construction and technical services, uranium suppliers may be at risk due to growing concerns about nuclear. Some leading uranium companies include: Cameco (NYSE: CCJ), Denison Mines (AMEX: DNN), Uranium Resources (NASDAQ: URRE), Uranium Energy (AMEX: UEC), and Uranerz Energy (AMEX: URZ).
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