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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Planning Commission, India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
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