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