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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Lanco Infratech Ltd - India
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- Indonesian Coal Mining Association
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- Mercuria Energy - Indonesia
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- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
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- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
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- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
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- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
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- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
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- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
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