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