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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- The University of Queensland
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
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