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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, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Planning Commission, India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
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