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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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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
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- The State Trading Corporation of India Ltd
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- Aboitiz Power Corporation - Philippines
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- Singapore Mercantile Exchange
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- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Parliament of New Zealand
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- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- The University of Queensland
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
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- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
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- Kumho Petrochemical, South Korea
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- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
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