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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
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- PTC India Limited - India
- Chamber of Mines of South Africa
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- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
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- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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