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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Minerals Council of Australia
- PTC India Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
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