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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
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