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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Minerals Council of Australia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
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- Malabar Cements Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
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- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
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