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Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
.jpg) Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax bulk carriers totalling 277,000 dead-weight tonnage (DWT) on a charter basis.
Company sources said the investment would be around Rs 500 crore for this additional expansion of vessels. DWT refers to how much mass or weight of cargo that a ship can carry.
This development comes at a time when the shipping industry has been grappling with weak spot freight rates on a year-on-year basis in both dry and tanker segments.
For instance, in the tanker segment like Suezmax, freight rates are currently at $2,580 per day compared with $84,790 per day a year earlier, say senior industry officials. Mercator has attempted to offset this difficult operating environment by going in for long-term contracts with its key customers.
As with all its other dry bulk acquisitions, these additional vessels will also be under its Singapore-listed subsidiary Mercator Lines (Singapore). Out of the three vessels proposed to be acquired, two are from the New Yangzijiang Shipyard in China, which will remain with Mercator until 2014. The third vessel is from Sungdong Shipyard, South Korea and will be on a charter with Mercator until 2020. The existing capacity of the company’s dry bulk fleet is approximately 1.2 million DWT.
Mercator’s own fleet currently comprises 1.2 million with a combined capacity of 1.37 million DWT, 12 dry bulkers with a combined capacity of 898,000 DWT, four dredgers with a combined capacity of 31,854 cubic metres (CBM) and a 350 feet oil jack-up rig.
Mercator has diversified its revenue stream, including coal mining in Indonesia coupled with its dredgers which are on a long-term lease and its recent acquisition of oil rigs. A combination of long-term contracts and a diversified revenue stream helped Mercator Lines’ consolidated operating income , including that of its Singapore subsidiary, touch Rs 2,210.5 crore in FY09 compared with Rs 1,477 crore for FY08 translating to a 50% growth.
The profit after tax (PAT) stood at Rs 467 crore which was a 30% growth. It is estimated that Mercator generates nearly 45-50% of its revenues in FY09 from long-term contracts. Also, the company generated nearly 11.5% of its topline in FY09 from non-shipping activities.
Source:EconomicTimes(http://economictimes.indiatimes.com/News/News-By-Industry/Transportation/Shipping--Transport/Mercator-to-buy-3-bulk-vessels/articleshow/4642329.cms)
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Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
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- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
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- Tata Chemicals Ltd - India
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- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
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- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
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- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
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- Essar Steel Hazira Ltd - India
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- Merrill Lynch Commodities Europe
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- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
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- Sical Logistics Limited - India
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- Electricity Generating Authority of Thailand
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- SMG Consultants - Indonesia
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- Samtan Co., Ltd - South Korea
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- Thiess Contractors Indonesia
- The University of Queensland
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- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bhatia International Limited - India
- Parliament of New Zealand
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- Indika Energy - Indonesia
- Agrawal Coal Company - India
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- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
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- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
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- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Singapore Mercantile Exchange
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- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
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- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
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