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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
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