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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Australian Coal Association
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- PTC India Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
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