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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, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- The University of Queensland
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
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