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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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Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
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