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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, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
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