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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
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