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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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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- The University of Queensland
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- MS Steel International - UAE
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
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