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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- Tamil Nadu electricity Board
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
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