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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- PTC India Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
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