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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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Saturday, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Planning Commission, India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
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