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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Australian Coal Association
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
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