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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
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