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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
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