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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
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