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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, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Goldman Sachs - Singapore
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- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
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- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
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- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
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- Videocon Industries ltd - India
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- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
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- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
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- London Commodity Brokers - England
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- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
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- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
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- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
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- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- The University of Queensland
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
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- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
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- Australian Coal Association
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
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