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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Videocon Industries ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- PTC India Limited - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
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