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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
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
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