BDI Baltic Exchange Dry Index 10104 UP 249
BCI Baltic Exchange Capesize Index 15553 UP 420
BPI Baltic Exchange Panamax Index 9695 UP 231
BSI Baltic Exchange Supramax Index 5663 UP 104
BHSI Baltic Exchange Handysize Index 2976 UP 77
BDTI Baltic Exchange Dirty Tanker Index No entry No entry
BCTI Baltic Exchange Clean Tanker Index No entry No entry
Baltic Exchange Dry Index 10221 UP 117
BCI Baltic Exchange Capesize Index 15629 UP 76
BPI Baltic Exchange Panamax Index 9806 UP 111
BSI Baltic Exchange Supramax Index 5772 UP 109
BHSI Baltic Exchange Handysize Index 3073 UP 97
BDTI Baltic Exchange Dirty Tanker Index No entry No entry
BCTI Baltic Exchange Clean Tanker Index No entry No entry
DJ MARKET TALK: HK Dry Bulkers May Outperform On BDI Strength
0901 [Dow Jones] HK-listed dry bulkers may outperform,
with Baltic Dry Index extending gains (+0.5% at 3,259 Monday, +20.4%
over past 8 sessions). Daiwa notes, strong demand for vessels in Brazil
and West Australia to ship iron ore in last 3 days of last week pushed up BDI,
on media reports price for new iron-ore contracts could be higher than
expected. "We think the BDI could remain strong for another one to
three weeks and test 3,500-3,800." But house says it remains cautious
on outlook of dry-bulk sector as BDI may also drop very fast
afterwards, as a lot of more vessels are due to be delivered this
year. Keeps China dry-bulk shipping sector at Negative.
China Cosco (1919.HK) ended +3.6% at HK$10.90 Monday,
China Shipping Development (1138.HK) +3.5% at HK$14.28.
(susanna.tai@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
DJ MARKET TALK: HK Dry Bulkers May Fall; BDI To Fall More - Daiwa
0916 [Dow Jones] HK dry bulk shipping stocks may extend recent weakness with Baltic Dry Index down 2.9% at 3,733 yesterday; index now down 11.3% since hitting 4,209 on May 26. Daiwa notes recent declines in freight rates may be due to lower thermal coal demand from China while monsoon season in India has reduced demand for smaller vessels. "We continue to believe that the BDI has already entered a protracted down-spiral after its recent peak." Keeps China Shipping Development (1138.HK) as core sector pick, maintains Outperform call with HK$14.50 target. CSD ends down 3.2% at HK$9.65 yesterday, Pacific Basin (2343.HK) down 3.1% at HK$5.01, China Cosco (1919.HK) down 3.6% at HK$8.02. (susanna.tai@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
DJ MARKET TALK: HK Dry Bulkers May Fall; BDI Extends Weakness
0830 [Dow Jones] HK-listed China dry-bulk shipping stocks may fall on profit taking after yesterday's gains and extended weakness in Baltic Dry Index (down 5.3% at 3,115 Monday, and down 26.0% over past 12 sessions). "Market sentiment was weak, particularly given the price-cut announcements made by the major China steel mills," says Daiwa. Notes lack of demand from China and oversupply of prompt tonnage main reasons for recent fall in BDI. Adds generally cool weather of past few weeks has led to a reduction in coastal-coal shipment demand. Expects BDI to test 3,000 level soon and to be below that level by end June. Keeps sector at Negative. Pacific Basin (2343.HK) ends +2.6% at HK$5.08 yesterday, China Cosco (1919.HK) +3.5% at HK$8.35, China Shipping Development (1138.HK) +4.4% at HK$9.94. (susanna.tai@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
DJ MARKET TALK: HK Dry Bulk Shipping Stocks Up; BDI Extends Gains
1035 [Dow Jones] HK-listed dry bulk shipping stocks higher, supported by extended gain in Baltic Dry Index which +0.8% at 1,841 Monday, +8.3% over past 7 sessions. JPMorgan says recent BDI strength supported by rise in freight rates across all vessel segments, partly reflecting good coal shipping demand and some grain shipping enquiry. "If freight rates remain at such low levels even after the low season, we expect vessel demolition to accelerate again which would be positive for the sector." China Cosco (1919.HK) +0.6% at HK$8.50, Pacific Basin (2343.HK) +0.5% at HK$5.57, Sinotrans Shipping (0368.HK) +3.0% at HK$3.45. (susanna.tai@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
DJ MARKET TALK:HK Dry Bulkers Up;Robust 1H Results Expected-Daiwa
1052 [Dow Jones] HK dry bulk shipping stocks higher, supported by continued rise in Baltic Dry Index (+1.5% at 1,869 Tuesday, +9.9% over past 8 sessions). Daiwa says BDI may have bottomed out last week, tips next resistance at around 2,000. "We believe the market's focus could shift to the interim-results season soon, during which we expect the dry-bulk shipping companies to announce robust 1H10 results." China Shipping Development (1138.HK) +0.5% at HK$11.58, Pacific Basin (2343.HK) +2.3% at HK$5.75, China Cosco (1919.HK) +0.2% at HK$8.70. (susanna.tai@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
