daily trading report c a p i t a l l i n k thursday j uly...
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DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
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MARKET REPORT
The Dow Jones Industrial Average rose 93.5 points, or 0.74%, to 12,719, the S&P 500 climbed
14 points, or 1.1%, to 1,353 and the Nasdaq Composite rallied 38.6 points, or 1.4%, to 2,873.
The Nasdaq has soared 8.3% over the last eight days -- the best eight-day run in two years.
The private sector tacked on 157,000 jobs last month, according to the ADP Employment
Report. Wall Street had been looking for a much smaller increase of 68,000 jobs. Small
businesses led the increase, adding 88,000 jobs, while large and medium sized businesses
combined attributed 69,000 jobs.
First time claims for unemployment benefits fell to 418,000 from a revised 432,000 the prior
week. Economists forecast claims to have fallen to 420,000 for the week. Both reports lead up to
the closely-followed release of the monthly employment situation from the Labor Department on
Friday.
Gains in energy markets heated up, with gasoline and oil settling at the highest levels in three
weeks, amid hopes a more robust economic recovery will mean increasing demand for energy.
Crude stocks fell 889,000 barrels last week, short of the 2.3 million barrel draw analysts
estimated. However, gasoline inventories were down 634,000 barrels, opposed to forecasts of a
100,000 barrel build. Lower levels of supply can push prices higher. Light, sweet crude gained
$2.02, or 2.1%, to $98.67 a barrel. Wholesale RBOB gasoline soared 13 cents, or 4.3%, to $3.13
a gallon. Prices at the pump have been ticking higher over the last two days. A gallon of regular
gasoline costs $3.58 on average nationwide, lower than $3.76 last month, but well above the
$2.72 drivers paid last year, according to the AAA Fuel Gauge report.
In metals, gold climbed $1.40, or 0.09%, to $1,531 a troy ounce. Silver jumped 62 cents, or
1.7%, to $36.54.
The European Central Bank boosted interest rates by 0.25% to 1.5% as was expected, as it works
to keep inflation in check. The Bank of England, however, held rates steady. While higher rates
help reduce inflation, they can also slow down economic expansion.
The euro gained 0.27% against the U.S. dollar and the greenback fell 0.1% against a basket of
world currencies.
The English FTSE 100 gained 0.92% to 6,058, the French CAC 40 climbed 0.6% to 3,985 and
the German DAX rose 0.59% to 7,475. In Asia, the Japanese Nikkei 225 fell 0.11% to 10,071.
The Chinese Hang Seng edged higher by 0.06% to 22,530.
(Source from Foxbusiness.com)
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
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C a p i t a l L i n k
ANALYST REPORTS & COMMENTS
From Wilhelm Gedde-Dahl of Pareto Securities
Shipping Daily - July 7, 2011
“Tankers: Active, but soft
Decent activity in both the VLCC and suezmax market yesterday, however not enough to lift
rates. Bassøe in fact assesses a VLCC MEG – East run to pay WS 48.5 at the moment,
marginally below recent levels and Baltic’s TD3 quote of WS 49. This implies a meager ~USD
3,000/day. The second decade MEG program is getting close to completion with ~81 cargoes
covered for July in total (Imarex). With an estimated ~40 cargoes remaining for July and 67
double hull VLCCs available to cover these, rates should be steady going forward. A WAF –
USG trip was fixed at a soft WS 64 yesterday in the suezmax market, equating to ~WS 66.5 for
the benchmark TD5/ WAF-USAC leg. Still, Bassøe marks TD5 to WS 67.5 / USD 7,000 per day,
expected to be next done on this leg.
Dry Bulk: BDI up 1.1% to 1,443 points
Cape business was concluded at levels above last done in both basins yesterday. In the Pacific a
vessels was rumoured fixed at USD 8.75/ton on the West Australia –China leg with the the bid -
offer ending the day at USD 8.35/ton – USD 8.55/ton (index at USD 8.35/ton). In the Atlantic
Owners are holding out for USD 17,000/day for round voyages vs the index at USD 16,900/day.
Panamax rates increased in both basins yesterday, with the average TC rate marked 2.0%
higher by the Baltic Exchange to USD 13,000/day.”
From Frode Mørkedal of RS Platou Markets
Shipping Daily – July 7, 2011
“BDI gains on robust fixing activity, momentum to sustain short term but rates likely to take a
breather. Baltic Dry Index gained 1.1% yesterday on continued strength in the Capesize segment
and recovery in Panamax rates. Strong Capesize fixing activity continued with both Atlantic and
Pacific markets building on recent gains. Spot rates on the Australia-China voyage trade were
reported at $8.35/ton whereas fixture reports indicate Rio Tinto paid $8.75/ton implying rates
could have further upside. However, as noted earlier we don’t believe in a runaway rally for the
Capesize segment on supply demand imbalance but expect a gradual recovery in the segment’s
earnings through 2H’11 with rate volatility to continue. Our view is based on recovering exports
out of Australia and Brazil and constrained supplies of Indian iron ore supporting long haul
tonne-mile growth. The Panamax market was seen recovering yesterday but rates could take a
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
breather as the market stays oversupplied with plenty of prompt ships available as fixing
activities remained low in the past few weeks. The Panamax segment is likely to remain subdued
in our view as Chinese thermal coal demand subsides but expect US Gulf/South American grain
to provide floor to rates.
Vale sees iron ore prices to sustain $150 level for at least the next five years, FT reports. Vale
SA, the world’s largest iron-ore producer expects the price of iron ore to remain above $150 a
tonne for at least the next five years; Financial Times reported citing the finance director of the
mining group. The miner’s optimism stems from booming Asian demand and production
constraints as miners struggle to get capacity online. We believe sustained levels of high iron ore
prices is detrimental to the dry bulk demand as Chinese buyers being price sensitive will not
realize an arbitrage window to increase incremental demand as Chinese domestic iron ore
production stays profitable at these prices.
Vale to restructure VLOC newbuildings, likely cancelled or reduced in size, Tradewinds says.
According to a Tradewinds report published yesterday, Vale might be “considering
renegotiating a series of 12 VLOCs on order from Jiangsu Rongsheng Heavy Industries and
instead seeking large Capesizes in the 200,000-dwt to 250,000-dwt range.” The report also
added that a couple of VLOCs at the Jiangsu Rongsheng orders have already been cancelled.
Though the reports remain unconfirmed, we see the developments as a positive, orderbook cuts
to the downside eases the big supply overhang in the Capesize segment and potentially paves the
way to earlier than expected market recovery in late 2012/2013.
Macro
Chinese raises interest rate again, tightening seen easing in 2H’11 could support shipping
demand. China raised benchmark interest rates for the third time this year, Bloomberg reported.
Market economists believe the June inflation accelerated to the quickest pace since 2008 and
current tightening cycle might be coming to an end as slowing growth and tight liquidity sees
inflation peaking soon. As we have noted in the past, the Chinese economy is a prime driver of
global shipping demand and the current depressed state of the shipping markets can also be
partly attributed to slowing Chinese growth. However, with market observers expecting Chinese
government nearing the end of the policy tightening cycle and the current interest rate hike to be
the last with Chinese central bank expected to keep rates steady and potentially ease liquidity in
the 2H’11, the shipping markets and commodity demand could see a boost with demand
fundamentals becoming isolated more positive for key dry bulk and tanker segments, in our
view.”
From Ole Slorer of Morgan Stanley
The Captain’s Log, Global Shipping – July 7, 2011
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
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“Overall, the VLCC market softened today as activity slows and the Arabian Gulf and West
Africa markets continue to experience an over supply of tonnage. Suezmax rates out of West
Africa hold at current levels. In the Aframax market, Cross Mediterranean rates firmed today as
demand begins to gain momentum out of the region. UK coast to US Atlantic coast clean product
tanker rates have begun to see some improvement before the end of the week.”
From Urs Dur of Lazard Capital
NMM: 2Q Preview: Dry bulk in doldrums due to oversupply, but contract cover sound; lowering
estimates a touch – June 7, 2011
“Dry bulk freight rates remain in the doldrums...Dry bulk freight rates remain in the doldrums
and the conventional wisdom is that they will remain there for some time as the market is
oversupplied with newbuild ships, particularly Capes.”
Usr Dur of Lazard Capital reiterated a buy rating and a price target of $23 on Navios
Maritime Partners (NYSE: NMM). He also lowered 2Q EPS and 2011 EPS estimates to $0.28
and $1.31 from $0.30 and $1.36, respectively.
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
BALTIC DRY INDEX
BALTIC INDICES CHANGES
Baltic Indices
% Change in Year
Date of 52 Week High
% Change of 52 Week High
BDIY -14.18% 6/1/2010 -64.33%
BCIY -6.96% 6/2/2010 -61.03%
BPIY -7.51% 6/1/2010 -59.25%
BSI -9.78% 6/1/2010 -56.25%
BHSI -12.89% 6/1/2010 -52.11%
BDTI -10.69% 12/21/2010 -30.31%
BCTI 6.46% 4/27/2011 -24.38%
BALTIC INDICES
Index Symbol 7-July-11 6-July-11 % Change 3-Jan-11 YTD- Change
Baltic Dry Index BDIY 1,453 1,443 0.69% 1,693 -14.18%
Baltic Capesize Index BCIY 2,126 2,116 0.47% 2,285 -6.96%
Baltic Panamax Index BPIY 1,663 1,626 2.28% 1,798 -7.51%
Baltic Supramax Index BSI 1,282 1,286 -0.31% 1,421 -9.78%
Baltic Handysize Index BHSI 703 704 -0.14% 807 -12.89%
Baltic Dirty Tanker Index BDTI 752 753 -0.13% 842 -10.69%
Baltic Clean Tanker Index BCTI 676 678 -0.29% 635 6.46%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000Jan F… M…
Apr M…
Jun
Jul A… S…
Oct N…
D…
2008
2009
2010
2011
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
Since July 1, 2011, Alexander & Baldwin Inc. (NYSE: ALEX) is no longer a component of CL Maritime Index and CL Container Index.
CAPITAL LINK MARITIME INDEX
CAPITAL LINK MARITIME INDICES CHANGES
Capital Link Indices
% Change in Year
Date of 52 Week High
% Change of 52 Week High
CLMI 0.70% 4/4/2011 -11.53%
CLTI -10.93% 6/15/2010 -18.58%
CLDBI -8.98% 11/8/2010 -17.14%
CLCI -43.07% 4/4/2011 -57.87%
CLLG 19.46% 4/4/2011 -0.01%
CLMFI -7.40% 3/8/2011 -13.34%
CLMLP 0.89% 3/31/2011 -6.22%
CAPITAL LINK MARITIME INDICES
Index Symbol 7-July-11 6-July-11 % Change 3-Jan-11 YTD- Change
Capital Link Maritime Index CLMI 2,046.21 2,024.76 1.06% 2,031.89 0.70%
Tanker Index CLTI 2,098.18 2,077.39 1.00% 2,355.67 -10.93%
Drybulk Index CLDBI 814.53 796.90 2.21% 894.91 -8.98%
Container Index CLCI 1,242.44 1,215.95 2.18% 2,182.51 -43.07%
LNG/LPG Index CLLG 3,589.70 3,576.50 0.37% 3,004.87 19.46%
Mixed Fleet Index CLMFI 1,799.80 1,776.59 1.31% 1,943.64 -7.40%
MLP Index CLMLP 2,989.67 2,975.60 0.47% 2,963.32 0.89%
0
1,000
2,000
3,000
4,000
5,000
6,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008
2009
2010
2011
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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MARITIME INDEX DAILY COMPARISON CHARTS (6 MONTHS)
0.90
0.95
1.00
1.05
1.10
1.15
1/14/11 2/14/11 3/14/11 4/14/11 5/14/11 6/14/11
Capital Link Maritime Index
S&P 500
Russell 2000
0.35
0.50
0.65
0.80
0.95
1.10
1.25
1.40
1/14/11 2/14/11 3/14/11 4/14/11 5/14/11 6/14/11
Capital Link Drybulk Index
Baltic Dry Index
0.70
0.80
0.90
1.00
1.10
1.20
1.30
1.40
1.50
1/14/11 2/14/11 3/14/11 4/14/11 5/14/11 6/14/11
Capital Link Tanker Index
Baltic Clean Tanker Index
Baltic Dirty Tanker Index
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
*As of 5:00 PM ET
MAJOR INDICES
Index Ticker Close Prev. Close
Change %
January 3, 2011
Today's Close
YTD Change
Dow Jones INDU 12,719.49 12,626.02 0.74% 11,670.75 12,719.49 8.99%
Dow Jones Transp. TRAN 5,618.25 5,566.07 0.94% 5,174.93 5,618.25 8.57%
NASDAQ CCMP 2,872.66 2,834.02 1.36% 2,691.52 2,872.66 6.73%
NASDAQ Transp. CTRN 2,606.70 2,577.34 1.14% 2,600.41 2,606.70 0.24%
S&P 500 SPX 1,353.22 1,339.22 1.05% 1,271.87 1,353.22 6.40%
Russell 2000 Index RTY 858.11 845.23 1.52% 798.56 858.11 7.46%
Amex Oil Index XOI 1,335.96 1,315.74 1.54% 1,225.81 1,335.96 8.99%
FTSE 100 Index UKX 6,054.55 6,002.92 0.86% 6,013.87 6,054.55 0.68%
*KEY CURRENCY RATES
Rate Close Prev. Close
Change %
January 3, 2011
Today's Close
YTD Change
3-Month LIBOR (USD) 0.24605 0.24575 0.12% 0.3028 0.2461 -18.74%
10-Yr US Treasury Yield 3.1423 3.108 1.10% 3.3362 3.1423 -5.81%
USD/EUR 0.6964 0.6983 -0.27% 0.7488 0.6964 -7.00%
USD/GBP 0.626 0.6249 0.18% 0.6459 0.6260 -3.08%
USD/JPY 81.22 80.98 0.30% 81.73 81.2200 -0.62%
USD/CNY 6.4655 6.4658 0.00% 6.601 6.4655 -2.05%
*KEY FUTURES
Commodities Symbol 7-July-11 6-July-11 % Change YTD
Change
Gas Oil Futures (ICE) QSA 973.25 933.25 4.29% 22.85%
WTI Crude Future (ICE) CLA 98.70 96.65 2.12% 7.72%
Natural Gas Future (ICE) NG1 4.17 4.22 -1.09% -9.91%
Heating Oil Future (ICE) HOA 309.55 296.33 4.46% 20.97%
Gasoline RBOB Future (ICE) XBA 311.75 299.76 4.00% 28.24%
Brent Crude Oil COY 113.10 112.80 0.27% 21.35%
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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PRECIOUS METALS
7-July-11 6-July-11 % Change YTD %Chg
Gold 1,531.95 1,526.55 0.35% 8.33%
Silver 36.46 35.93 1.46% 18.78%
Platinum 1,745.75 1,719.30 1.54% -1.34%
Copper 442.75 433.50 2.13% -0.17%
Palladium 783.85 773.20 1.38% -1.59%
KEY AGRICULTURAL & CONSUMER COMMODITIES
7-July-11 6-July-11 % Change YTD %Chg
Corn 615.50 608.50 1.15% -0.81%
Soybeans 1337.75 1318.50 1.46% -2.99%
Wheat 634.50 627.00 1.20% -21.23%
Cocoa 3186.00 3188.00 -0.06% 4.98%
Coffee 268.60 267.50 0.41% 11.68%
Cotton 113.52 113.42 0.09% -20.17%
Sugar #11 29.52 27.68 6.65% -8.09%
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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GENERAL MINERS
GENERAL MINER Ticker Close Prev. Close
Change %
Open Day’s Range Volume Avg. Vol (3m)
BHP Billiton Ltd. BHP 96.80 95.06 1.83% 96.59 96.50 - 97.37 2,758,102 3,810,740
Fortescue Metal FSUMF.PK 6.95 6.82 1.91% 6.82 6.82 - 6.96 24,249 1,503,880
Rio Tinto plc RIO 73.63 72.34 1.78% 73.62 73.41 - 74.00 2,047,319 3,102,480
Xstrata plc XSRAF.PK 22.75 22.44 1.38% N/A 22.55 - 22.75 9,231 12,294
TRANSPORTATION STOCKS
DRYBULK Ticker Close Prev. Close
Change %
Open Day’s Range
Volume Avg. Vol (3m)
Baltic Trading BALT 5.64 5.53 1.99% 5.53 5.53 - 5.65 109,347 190,724
Diana DSX 11.08 11.01 0.64% 11.08 11.02 - 11.17 430,861 588,827
DryShips DRYS 4.20 4.12 1.94% 4.17 4.14 - 4.23 4,499,942 8,289,100
Eagle Bulk EGLE 2.48 2.30 7.83% 2.35 2.30 - 2.49 2,093,893 1,012,460
Excel Maritime EXM 3.22 3.20 0.62% 3.23 3.19 - 3.23 432,359 665,068
Freeseas FREE 1.85 1.77 4.52% 1.77 1.80 - 1.91 23,852 19,116
Genco Shipping GNK 7.49 7.39 1.35% 7.46 7.44 - 7.62 408,156 1,037,960
Globus Maritime GLBS 7.32 7.38 -0.88% 7.30 7.28 - 7.60 25,075 21,271
Navios Maritime NM 5.17 5.14 0.58% 5.22 5.17 - 5.24 347,506 552,640
Navios Maritime Partners NMM 19.13 18.71 2.24% 18.73 18.73 - 19.24 282,073 364,113
OceanFreight Inc. OCNFD 6.89 7.65 -9.93% 6.63 6.50 - 7.65 18,727 13,616
Paragon Shipping PRGN 2.02 1.99 1.51% 1.99 1.99 - 2.02 128,966 394,065
Safe Bulkers SB 7.92 7.68 3.13% 7.77 7.69 - 7.93 233,582 304,225
Seanergy Maritime SHIPD 5.00 4.91 1.83% 5.00 4.98 - 5.00 600 5,763
Star Bulk Carriers SBLK 2.06 2.03 1.48% 2.02 2.01 - 2.09 191,356 165,589
TBS International TBSI 2.23 2.21 0.90% 2.30 2.20 - 2.35 221,349 119,289
TANKERS Ticker Close Prev. Change Open Day's Range Volume Avg. Vol
(3m)
Aegean Maritime ANW 7.22 7.05 2.41% 7.13 7.08 - 7.28 270,722 534,049
Capital Product Ptnrs CPLP 9.18 9.16 0.22% 9.28 9.15 - 9.43 73,111 172,981
Crude Carriers Corp. CRU 13.49 13.50 -0.07% 13.60 13.46 - N/A 34,083 129,227
Double Hull DHT 3.79 3.80 -0.26% 3.82 3.77 - 3.87 296,323 406,248
Frontline FRO 14.02 13.92 0.72% 13.95 13.92 - 14.12 1,649,432 1,553,680
General Maritime GMR 1.17 1.29 -9.30% 1.29 1.16 - 1.30 4,716,172 2,237,420
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
Navios Maritime Acquisition Corp NNA 3.58 3.62 -1.10% 3.66 3.58 - 3.73 129,452 43,456
Nordic American NAT 22.32 22.41 -0.40% 22.47 22.24 - 22.85 405,067 451,332
Omega Navigation ONAV 0.31 0.29 6.68% 0.33 0.30 - 0.35 56,260 48,351
OSG America LP OSG 26.91 26.16 2.87% 26.45 26.04 - 27.04 610,416 782,654
Scorpio Tankers STNG 9.73 9.84 -1.12% 9.94 9.66 - 9.96 123,860 132,329
Teekay Offshore TOO 29.80 29.73 0.24% 29.91 29.77 - 30.16 111,547 146,246
Teekay Shipping TK 31.24 31.03 0.68% 31.33 31.10 - 31.43 204,877 399,059
Teekay Tankers TNK 9.22 9.20 0.22% 9.29 9.20 - 9.30 309,004 526,330
TORM TRMD 3.91 3.90 0.27% 3.93 3.87 - 3.95 16,656 6,654
Tsakos Energy TNP 10.02 9.98 0.40% 10.03 10.00 - 10.11 51,969 147,857
CONTAINERS Ticker Close Prev. Change Open Day's Range Volume Avg. Vol. (3m)
Box Ships TEU 10.00 9.97 0.30% 10.04 9.80 - N/A 53,442 230,126
Costamare CMRE 16.99 17.08 -0.53% 17.23 16.89 - 17.23 44,337 87,259
Danaos DAC 5.63 5.64 -0.18% 5.71 5.60 - 5.74 26,515 75,121
Diana Containers DCIX 7.17 7.10 0.99% 7.11 7.05 - 7.20 172,250 276,976
Global Ship Lease GSL 5.32 5.32 0.00% 5.37 5.29 - 5.44 29,016 102,990
Horizon Lines HRZ 1.18 1.13 4.42% 1.15 1.13 - 1.22 599,212 2,276,330
Seaspan Corp SSW 16.38 15.58 5.13% 15.88 15.82 - 16.42 552,183 487,270
CONTAINER LEASING Ticker Close Prev. Change Open Day's Range Volume Avg. Vol. (3m)
Cai CAP 20.80 20.22 2.87% 20.57 20.23 - 20.89 106,688 130,521
SeaCube BOX 16.90 16.65 1.50% 16.81 16.80 - 17.00 188,173 132,811
Tal International TAL 35.58 34.97 1.74% 35.24 35.10 - 35.86 354,558 357,560
Textainer Group TGH 31.21 30.90 1.00% 31.27 31.03 - 31.60 83,974 105,849
LPG/LNG Ticker Close Prev. Change Open Day's Range Volume Avg. Vol (3m)
Golar LNG GLNG 37.96 37.81 0.40% 37.45 36.69 - 38.43 1,136,086 658,946
Golar LNG Partners LP GMLP 28.77 28.86 -0.31% 28.85 28.29 - 29.00 64,378 375,736
StealthGas GASS 4.20 4.24 -0.94% 4.23 4.18 - 4.28 163,698 68,071
Teekay LNG TGP 37.87 37.72 0.40% 37.98 37.69 - 38.03 117,550 183,614
MIXED FLEET Ticker Close Prev. Change Open Day’s Range Volume Avg. Vol
(3m)
B & H Ocean BHO 3.99 3.98 0.32% 3.98 3.98 - 3.99 1,718 3,124
Euroseas ESEA 4.36 4.31 1.19% 4.30 4.23 - 4.40 48,051 32,335
Knightsbridge VLCCF 22.16 22.09 0.32% 22.26 22.06 - 22.49 85,775 161,468
NewLead Holdings NEWL 2.60 3.36 -22.62% 3.34 2.60 - 3.32 19,820 3,095
Ship Finance SFL 18.31 18.00 1.72% 18.15 18.13 - 18.40 228,561 355,754
Top Ships TOPSD 3.50 3.50 0.00% 3.51 3.50 - 4.20 7,567 3,067
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
OFFSHORE DRILL RIGS Ticker Close Prev. Change Open Day’s Range Volume Avg. Vol
(3m)
Atwood Oceanics ATW 45.11 45.05 0.13% 45.80 44.84 - 45.86 561,706 713,027
Diamond Offshore Drilling DO 70.88 70.63 0.35% 71.38 70.10 - 71.54 1,327,735 1,862,770
Ensco International ESV 53.13 53.05 0.15% 53.68 52.25 - 53.70 4,425,263 3,366,390
Hercules Offshore HERO 5.55 5.42 2.40% 5.52 5.46 - 5.60 2,151,477 4,725,120
Noble Corp. NE 37.69 38.35 -1.72% 38.69 37.62 - 38.95 6,621,476 3,503,710
Rowan Companies RDC 38.82 38.90 -0.21% 39.45 38.54 - 39.48 1,921,304 2,077,120
Seadrill Ltd. SDRL 35.96 35.49 1.32% 35.93 35.76 - 36.10 1,555,784 1,958,150
Transocean RIG 62.47 62.23 0.39% 63.24 61.90 - 63.61 5,960,053 4,568,060
LONDON LISTED COMPANY (GBp)
Ticker Close Prev. Change Open Day's Range Volume Avg. Vol.
(3m)
Hellenic Carriers HCL.L 63 63 0.00% 63 63 750 24137.05
LONDON LISTED MIXED FLEET
Ticker Close Prev. Change Open Day’s Range Volume Avg. Vol
(3m)
Goldenport (GBp) GPRT.L 107.5 107.25 0.23% 109.25 107.5-109.5 6401 12715.03
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
FFA RATES (SOURCE: BALTIC EXCHANGE)
BALTIC FORWARD ASSESSMENTS CAPESIZE; 4 TIMECHARTER ROUTES AVERAGE
TC Rates are for: current month, current quarter, the next four quarters, and the next three calendar years.
BALTIC FORWARD ASSESSMENTS PANAMAX; 4 TIMECHARTER ROUTES AVERAGE
TC rates are for: current month, current quarter, the next four quarters, and the next three calendar years.
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
BFA SUPRAMAX: 5 TIMECHARTER AVERAGE
TC rates are for: current month, current quarter, the next four quarters, and the next three calendar years.
BALTIC FORWARD ASSESSMENTS HANDYSIZE: TIMECHARTER AVERAGE
TC rates are for: current month, current quarter, the next four quarters, and the next three calendar years
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
BALTIC FOWARD ASSESSMENTS CLEAN TANKERS
TC2 - 37000mt Continent to USAC TC4 - 30000mt Singapore to Japan
TC5 - 55000mt Middle East to Japan
TC Rates are for: current month, the next five months, the current quarter, the next four quarters, and the next two calendar years.
DAILY TRADING REPORT
THURSDAY, JULY 07, 2011
This is proprietary information: Not for public distribution or redistribution of any kind.
Capital Link – New York – London - Athens 230 Park Avenue • Suite 1536 • New York • New York 10169, USA •Tel.: +1 212 661 7566 • Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K. • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801
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C a p i t a l L i n k
BALTIC FORWARD ASSESSMENTS DIRTY TANKERS
TD3 - 260000mt ME Gulf to Japan
TD5 - 130000mt W Africa to USAC TD7 - 80000mt North Sea to Cont
TC Rates include: current month, the next five months, the current quarter, the next four quarters, and the next two calendar years