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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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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- The University of Queensland
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
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