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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, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- The University of Queensland
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
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