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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- PTC India Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
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