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