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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
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