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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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- CNBM International Corporation - China
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
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