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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, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
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