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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, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Australian Coal Association
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
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