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