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Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry benchmark for rates in the dry bulk shipping segment -- has pulled back since breaking above 3,500 for the first time since December earlier this month. The index remains well off its November high of more than 4,650, but Credit Suisse is bullish on select dry bulk stocks, citing economics related to the recent shipping rates for Capesize and Panamax vessels.
The firm called Diana its top pick in the segment, and suggested that Genco Shipping & Trading's "significant short interest" could get squeezed in the event of a BDI reversal.
A rebound for the benchmark would mean good things for the laggard Dry Bulk Shipping Stocks Index. As a whole the Index has trailed the S&P 500 by -6.5% over the last month, and the majority of its components remain more than -25% off their 52-week highs.
Excel Maritime Carriers, pro-favorite DryShips, Omega Navigation Enterprises, and OceanFreight all closed -50% or more from their respective one-year high water marks on Friday.
The shorts weighed on Genco as well as Eagle Bulk Shipping last week as the stocks slipped by more than -4% in five sessions. It will be interesting to see whether Credit Suisse is on target with its BDI optimism, and whether it's enough to scare some bears into covering their bets.
As of this writing, the Dry Bulk Shipping Stocks Index is one of the 15 worst-performing tickerspy Indexes over the last month, down by -1.2%.
Source: Indie Research / Hellenic Shipping News
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Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
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