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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- London Commodity Brokers - England
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
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