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