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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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- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
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