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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
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