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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
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