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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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Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
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