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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
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- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
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- ASAPP Information Group - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
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- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
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- Global Business Power Corporation, Philippines
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- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- The Treasury - Australian Government
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- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
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- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
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- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
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- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
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- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
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- Dalmia Cement Bharat India
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- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
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- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
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- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
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