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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, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
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