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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
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- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
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- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- PTC India Limited - India
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- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
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- Semirara Mining and Power Corporation, Philippines
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- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
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- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
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