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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, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Trasteel International SA, Italy
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- Interocean Group of Companies - India
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- Merrill Lynch Commodities Europe
- The University of Queensland
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- White Energy Company Limited
- Bhatia International Limited - India
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- London Commodity Brokers - England
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- Bulk Trading Sa - Switzerland
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- Straits Asia Resources Limited - Singapore
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- Metalloyd Limited - United Kingdom
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- Indo Tambangraya Megah - Indonesia
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- Orica Mining Services - Indonesia
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- Chamber of Mines of South Africa
- Australian Coal Association
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- Heidelberg Cement - Germany
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- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
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- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
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- SMC Global Power, Philippines
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- Videocon Industries ltd - India
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- Parliament of New Zealand
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- Planning Commission, India
- MS Steel International - UAE
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- Thai Mozambique Logistica
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- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
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- Baramulti Group, Indonesia
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- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
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- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
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- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
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- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
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- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
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- Kumho Petrochemical, South Korea
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- Jaiprakash Power Ventures ltd
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- Ministry of Transport, Egypt
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- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
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