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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
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