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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
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