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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, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
NTPC TO ADD 6,000 MW EACH YEAR IN 12TH PLAN
Will raise total generation capacity to 75,000 Mw by 2017, up from 30,644 Mw at present.
India's largest power generator NTPC, which will launch ...
Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG
Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the s ...
Friday, 15 January 10
CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
China's coal-hungry power plants have turned to imported coal to cope with widespread shortages, but spot supply is scarce, traders said on Thursda ...
Thursday, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
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- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Australian Coal Association
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
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