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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, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- PTC India Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
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