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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, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- The University of Queensland
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
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