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With Profitability At The Forefront, Is This Stock a Top Pick: Genco Shipping & Trading Limited (:GNK)

Any investors would pay particular attention to the profitability of a company before considering taking a position. Here we’ll take a quick look at shares of Genco Shipping & Trading Limited (:GNK) and the company’s ability to generate profit. The firm currently has a Return on Equity -24.00% which is derived from comparing 12-months net income to shareholder equity. So even though the company is generating profits, where can the stock go from here? Sell-side analysts covering the shares are projecting a one year price target of $6.67 on the ...

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Hanjin Shipping Soars a Day After Exchange Calls Stock ‘Trash’

One day after a Korean stock exchange official called the shares of Hanjin Shipping Co. “trash,” investors piled in, sending them 15 percent higher. The company, on the verge of bankruptcy, is a darling of retail investors. Volatility is reaching a record, while the stock was the most-traded on the Kospi index in the past two days. “Retail investors are buying the stock so they can make double-digit profits — 10% or 20% a day,” said Kim Seung Churl, an analyst at Meritz Securities in Seoul. “The volatility for this ...

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China’s low sulphur ECAs extends to 11 ports from 2017

China has enforced the use of fuel with a maximum sulphur content of 0.5% on ships berthing at six more key ports starting 2017, extending from five ports that have implemented the regulation in 2016. From 1 January 2017, ships berthing at the six ports – Guangzhou, Huanghua, Qinhuangdao, Tangshan, Tianjin and Zhuhai – need to burn bunker fuel with a sulphur content cap of 0.5%. The fuel sulphur rule was imposed at the ports of Shanghai, Nantong, Ningbo-Zhoushan and Suzhou since April last year before extending to Shenzhen in ...

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Golden Ocean Group Limited (GOGL) Receives Average Rating of “Hold” from Analysts

Golden Ocean Group Limited logoShares of Golden Ocean Group Limited (NASDAQ:GOGL) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $4.88. GOGL has been the subject of several recent research reports. Pareto Securities upgraded ...

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China boost for Bermuda’s shipping registry

Bermuda’s shipping register is set to get a boost after China agreed to give island-flagged ships “most favoured” status. Captain Pat Nawaratne, head of the Bermuda Shipping and Maritime Authority, set up last year, said the move would give the island a competitive edge in the registry business. He explained: “This will benefit us, especially when Bermuda-registered ships arrive in Chinese ports. “Ports charge for visits — port dues based on tonnage of the vessel and trade of the vessel. “If we are in the most favoured category these can ...

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Indonesia – Ore Export Ban Relaxed

Press reports indicate the Government of Indonesia has relaxed the ore export ban that had previously been in place. The export of materials such as nickel ore and bauxite may resume. Risk of Liquefaction Ores exported from Indonesia may be subject to the risk of liquefaction. Members will no doubt recall that several vessels carrying nickel ore from Indonesia have been lost. The Club is also aware of some liquefaction issues with bauxite cargoes. Club Circulars Members who are fixed to load nickel ore are reminded of the Club circulars ...

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Coal shipments from Port of Newcastle at record

KAI DRY BULK MARKET Coal shipments from the Port of Newcastle – Australia’s largest coal port – hit a record in December, underlining the resilience of the oldest fossil fuel amid policy U-turns in China and global calls for it to be phased out. The Port of Newcastle said coal shipments hit a record 15.9 million tonnes in December, eclipsing the previous record of 15.8 million tonnes set in December 2014. Total calendar 2016 coal shipments increased by 2 per cent to just over 161 million tonnes. The record month ...

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DP World takes control of Saint John container terminal

The fourth largest container company in the world, DP World, has officially taken over operations of the west side container terminal at Port Saint John, about six months after a 30-year lease was signed between the port and company. The goal is to grow the business and two massive cranes, now ready for use, are expected to be a big part of that growth. “These cranes will really help us to not only meet the needs of current vessel owners that call the port throughout the tidal range but also ...

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Russian Arctic ports have best year ever

Figures from the Russian Association of Sea Ports show that the main ports in the Russian north in 2016 had a more than 40 percent year-on-year increase from 2015. Growth was biggest in Murmansk where a total of 33,4 million tons of goods was handled, a 50 percent increase. Also Varandey, the oil terminal on the Pechora Sea coast, in 2016 had a significant growth. The port, which is owned and operated by Lukoil, handled eight million tons of oil, which 21,6 percent higher than in 2015. Dudinka, the Arctic ...

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US undercuts Australian gas exporters to Asia as spot prices spike

A surge in shipments of US gas into north Asia highlights the challenge confronting Australia’s gas exporters as more gas projects come on stream over the next few years. That threat of cheap US gas cutting across the ambitions of Australian gas exporters was evident during December, when three-quarters of the gas exported from the new US gas export project at Sabine Pass was sold into north Asia, according to industry analyst Graeme Bethune. “Until a month ago, it wasn’t sending much to Asia, but it is sending a lot ...

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Mexico’s Pemex imports first diesel cargo via train from U.S.

Mexico’s state oil company Pemex began receiving imported fuel by train at a new privately run terminal for the first time in January as companies expand storage and transportation operations under the country’s energy opening, a senior executive said in an interview. The cargo of just under 60,000 barrels arrived from Port Arthur, Texas, on Jan. 7 at the new private San Jose Iturbide storage terminal in central Guanajuato state via train, marking another first for the company which normally uses pipelines and seaports for fuel imports. Isaac Volin, head ...

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China steel, iron ore: A new year, a new bubble: Russell

The new year has started with something familiar from the last – a bubble in Chinese iron ore and steel prices. The most-traded iron ore contract on the Dalian Commodity Exchange leapt by as much as 8 percent on Monday, in the process reaching a three-year high of 657.5 yuan ($95.29) a tonne. Its gain so far this year is about 18 percent and the contract is around four times higher than the low reached in July 2015. It’s much the same story with Shanghai steel rebar, the benchmark construction ...

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Coal contract prices hit their highest level in almost six years

Contract prices for coking coal have surged to their highest levels since 2011. Coking coal is a crucial ingredient in the steel making process but prices for the December 2016 quarter were relatively low at $US200 per tonne. Yet figures for this year’s March quarter have been locked in at $US285, a jump research analyst Gavin Wendt said, was still being driven by Chinese buyers. “We have seen tremendous demand strength out of China, much more significant really than the market had anticipated, certainly through the later price of 2016,” ...

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In latest move, China halts over 100 coal power projects

China’s energy regulator has ordered 11 provinces to stop more than 100 coal-fired power projects, with a combined installed capacity of more than 100 gigawatts, its latest dramatic step to curb the use of fossil fuels in the world’s top energy market. In a document issued on Jan. 14, financial media group Caixin reported, the National Energy Administration (NEA) suspended the coal projects, some of which were already under construction. The projects worth some 430 billion yuan ($62 billion) were to have been spread across provinces and autonomous regions including ...

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Asian oil refinery margins jump on outages in Mideast, Asia

Several refineries in the Middle East and Asia have shut down in the past week due to fires and other technical problems, leading to a jump in profit margins for facilities still operating. The higher Asian refining margins have beat back concerns that profits would fall as crude oil prices gained as the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers began to implement their agreed production cuts from January to reduce global oversupply. Besides the fires and other shutdowns, maintenance and repairs at refineries in Indonesia by ...

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