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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, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
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- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
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