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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, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Posco Energy - South Korea
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
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