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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
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