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STX Pan Ocean
The Baltic Exchange's main sea freight index monitors merchant shipping costs on 40 major export routes for dry commodities.
A slowdown in the global economy and rising fuel prices have pushed the index down, said a dealer, adding that current shipping activity is a reflection of sluggish demand around the world.
The prices of wheat, soybeans and iron ore have surged in the last two years, but that is nothing next to the surging cost of shipping goods like these. Since mid-'06, a confluence of powerful forces - from a shortage of ships to the seemingly unquenchable thirst by China for raw materials - has sent the world's benchmark for shipping rates soaring 365%.
The meteoric, and at times volatile, course of shipping costs has grabbed the interest of Wall Street and focused attention on the tiny Baltic Exchange in London, where shipbrokers set the price for ferrying goods each day. As the exchange's Baltic Dry Index of rates hovers near record highs, investment banks and hedge funds are entering the fast growing market for financial instruments linked to the index.
The market for ships has heated up too. For the first time, prices of vessels meant to carry dry goods like iron ore and grain have eclipsed those for some oil tankers. Some owners are converting tankers to dry cargo ships. Others have begun trading slots in shipyards where new vessels are built. And prices of second-hand merchant vessels are leaping.
From CIMB-GK Securities Pte Ltd
http://www.remisiers.org/research//STXPanOcean-220508%20Sell%203.10%20cimb.pdf
You should be able to get BDI around 2200hrs
i never sell at $4 
zhuge_liang ( Date: 20-May-2008 11:55) Posted:
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any pple noe when this Baltic Index is updated? morning?
zhuge_liang ( Date: 21-May-2008 00:16) Posted:
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The Baltic Index climbed 2.2% Mon to 11,709, a third straight record close.
STX also rose on Merrill Lynch's upgrade. Merrill raised its price target 35% to $5 in a note to clients today.
The bank also lifted its profit forecast by 52% as shipping rates rise because of China's demand for iron ore and coal, the Southern Hemisphere grain season and a lack of new vessels.
"We expect favourable conditions to persist for the remainder of 2008," analysts Paul Dewberry and Ying Ying Hou said in the note. They maintained a "buy" rating.
The Seoul-based shipping line is likely to make a full-year adjusted net income of US$778 million, they added.
STX Pan Ocean rose as much as 7.8% to a 7-month high of $4 after Baltic Exchange's dry freight index hit an all-time high on Mon, dealers said.
The Baltic Exchange's main sea freight index, which monitors merchant shipping costs on 40 major export routes for dry commodities, jumped to a fresh record on demand for natural resources in China and India.
any take on stx?
idesa168, so you made a fortune shorting this last friday. Good for you. Wanted to short too but no guts lah.
What's your comment on this counter going forward. I did a fibo on the chart. Support seems to be at 3.43. Qbuy today at 3.43 but didnt get it. I'm new to TA, just tikam tikam. Can someone advice whether that support is correct?? Is there more uptrend for this counter given the higher BDI rate?
short this burger today lah
STX rising on higher Baltic Dry Index. The BDI advanced 83 points, or 0.9% to 9,356 points. That's the highest since Dec 20.
short term going down liao, becareful. Do your own research. May be I am wrong
STX PO up up away !
buy n contra in morning session on monday.
danger pls beware , pls do yr own research
STX Pan Ocean
April 25 close: S$3.63
CIMB-GK Research, April 25
WE REAFFIRM our bullish expectations for the global dry bulk sector and forecast an average of 8,000 points for the Baltic Dry Index this year against 7,076 points last year, although freight rates will be more volatile as the gap in supply narrows.
Maintain 'overweight' on the dry-bulk sector: We believe that share prices of dry-bulk companies will do well particularly in H2 2008, with the key catalyst being stronger momentum on dry freight rates as the supply of iron ore and coal accelerates. We are confident that demand will continue to be strong and vessel supply manageable. The threat of conversions is more bark than bite, while delivery delays and order cancellations may help reduce supply growth on the margins.
Downgrade STX Pan Ocean to 'trading buy' from 'outperform' previously; target upped to $4.30 (from $3.60): The stock price has appreciated 57 per cent since we initiated coverage on March 24. Our new target is based on a 20 per cent premium to our sum-of-the-parts valuation of $3.60, fusing the market value of its existing fleet and newbuildings, with a four times PE valuation for its chartered-in earnings, and the market value of its holding in Korea Express.
We have imputed a 20 per cent premium because STX Pan Ocean's share price is historically highly correlated to the momentum in dry-bulk freight rates. We did not previously input a premium. Earnings estimates remain unchanged.
TRADING BUY
Anyone got interest to short this one.. yest they rch a peak of 3.8, wanted to short but i dun have CFD n dare not put a nake short...
10.... take profit let others earn some also.. ;p
good for u man~! 15c profit margin...how many lots you bought?
ozone2002 ( Date: 16-Apr-2008 14:19) Posted:
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