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