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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, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
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