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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
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