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