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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, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
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