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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
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- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
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- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Australian Coal Association
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
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