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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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