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