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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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Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
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