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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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Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
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