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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 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
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