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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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Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Xindia Steels Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Planning Commission, India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
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