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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
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- Larsen & Toubro Limited - India
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- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Minerals Council of Australia
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- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
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- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
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- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Intertek Mineral Services - Indonesia
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- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
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- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
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- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
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- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
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- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
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- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
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- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
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- Australian Coal Association
- Energy Link Ltd, New Zealand
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- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
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