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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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Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
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- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
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