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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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Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
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- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
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