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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, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- VISA Power Limited - India
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