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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Minerals Council of Australia
- Videocon Industries ltd - India
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- Wilmar Investment Holdings
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- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Australian Coal Association
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- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
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- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
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- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
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- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
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- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
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- Manunggal Multi Energi - Indonesia
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- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
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- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
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- GMR Energy Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
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- Baramulti Group, Indonesia
- SMC Global Power, Philippines
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- Kepco SPC Power Corporation, Philippines
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- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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