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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
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