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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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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
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- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
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