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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- Planning Commission, India
- Binh Thuan Hamico - Vietnam
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- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
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- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
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- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
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- Indian Oil Corporation Limited
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- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Medco Energi Mining Internasional
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- Chettinad Cement Corporation Ltd - India
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- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
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- White Energy Company Limited
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- Vedanta Resources Plc - India
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- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
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- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
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- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
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- Minerals Council of Australia
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- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
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- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
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