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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, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Marubeni Corporation - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Australian Coal Association
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- London Commodity Brokers - England
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Planning Commission, India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
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