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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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- Pendopo Energi Batubara - Indonesia
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- Rio Tinto Coal - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
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- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
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- ASAPP Information Group - India
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- GN Power Mariveles Coal Plant, Philippines
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- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
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- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
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- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
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- Leighton Contractors Pty Ltd - Australia
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- Tata Chemicals Ltd - India
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- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
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- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
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- Formosa Plastics Group - Taiwan
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- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
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- Parliament of New Zealand
- Independent Power Producers Association of India
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- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- McConnell Dowell - Australia
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- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
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- Samtan Co., Ltd - South Korea
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- Planning Commission, India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
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- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
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- Bulk Trading Sa - Switzerland
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- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
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- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
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- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
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