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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
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- The University of Queensland
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- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
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- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
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- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
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- Indian Oil Corporation Limited
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- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- SMC Global Power, Philippines
- Goldman Sachs - Singapore
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- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
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- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
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- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
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