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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, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
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- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
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