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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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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Kapuas Tunggal Persada - Indonesia
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- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
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- Economic Council, Georgia
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- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Romanian Commodities Exchange
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- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
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- Indian Oil Corporation Limited
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- Port Waratah Coal Services - Australia
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- Iligan Light & Power Inc, Philippines
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- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
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- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
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- Timah Investasi Mineral - Indoneisa
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- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
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- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
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- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
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- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
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