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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
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