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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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- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
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