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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- VISA Power Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
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