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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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- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
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