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