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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Australian Coal Association
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
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