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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
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- White Energy Company Limited
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
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- Bhoruka Overseas - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
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- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
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- Kohat Cement Company Ltd. - Pakistan
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- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
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- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
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- Bhatia International Limited - India
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- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Interocean Group of Companies - India
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- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
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- Mintek Dendrill Indonesia
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- Electricity Authority, New Zealand
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- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
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- Indonesian Coal Mining Association
- Sical Logistics Limited - India
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- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
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