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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- The University of Queensland
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