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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, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
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