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Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
 The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at lower prices, company executives say. The Greek financial crisis has been "bad news" for the shipping industry, putting increased pressure on the demand side, said PSL managing director Khalid Hashim.
The crisis has seen shipping demand fall from the European Union - an economy as large as $13 trillion - as well as spurring a substantial depreciation of the euro, he said.
The public debt catastrophe could also slow economic stimulus measures throughout Europe.
"What will happen to demand once these stimulus packages are turned down or turned off?" he said.
PSL, the country's second largest dry bulk carrier, expects the Baltic Dry Index (BDI) to fall in the second quarter from an average of 3,026 in the first three months.
The BDI - the most closely watched dry bulk shipping rate for commodities - rose by about 20% since the beginning of the year mainly on strong demand from China.
The index rose by 4% on the weekend to 3,608.
"We expect the BDI to decline from the current level. This is the good news for us as ship prices will go down," said Mr Hashim.
The carrier is in the market for 23 second-hand ships after selling 25 aging vessels since the start of last year and having only acquired two replacements to date.
"We expect ship prices may come down by 20% this year," he said.
Fewer vessels in service and a 14% year-on-year drop in freight rates to $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
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