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