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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, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Planning Commission, India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- The University of Queensland
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
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