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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, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
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- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
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- Tamil Nadu electricity Board
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- GMR Energy Limited - India
- Commonwealth Bank - Australia
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- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
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