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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
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