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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 $12,425 per ship per day caused PSL's net profit to plunge by 53.9% to 389 million baht in the first quarter, a 6.6% quarter-on-quarter slide.
Revenue was 803 million baht, down 59.3% from a year earlier and 10.9% quarter-on-quarter.
PSL finance director Khushroo Wadia said the company would probably focus on consolidating its position this year before expanding over the next two years.
The carrier has placed orders for 18 new ships, two of which will be delivered in the second half and the rest by the end of 2013.
The BDI is expected to remain weak this year and next, only starting to pick up from 2012 onwards, he said.
While the outlook for the shipping industry remains bullish in the long-term it is quite bearish in the short-term, said Mr Hashim.
Shares of PSL closed yesterday on the Stock Exchange of Thailand at 19 baht, up 30 satang, in trade worth 18.6 million baht.
Source: Bangkok Post / Hellenic Shipping
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
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