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