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