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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
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- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
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- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
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- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
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- GMR Energy Limited - India
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- PowerSource Philippines DevCo
- Agrawal Coal Company - India
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- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Standard Chartered Bank - UAE
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- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
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- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Marubeni Corporation - India
- Chamber of Mines of South Africa
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- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
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- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
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- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
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- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
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- Independent Power Producers Association of India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
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- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
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- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
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- The University of Queensland
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
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- Wilmar Investment Holdings
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- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
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