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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Central Electricity Authority - India
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