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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, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
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