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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, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
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