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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
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