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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Oldendorff Carriers - Singapore
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