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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- PTC India Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Ministry of Mines - Canada
- Minerals Council of Australia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
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