Tanker Weekly – June 13, 2011
Baltic Dirty Tanker Index fell 4.1%; Baltic Clean Tanker Index fell 6.0%.
Archive for June, 2011
China New Loan Issuance Slows Down In May; Rate Of Money Supply Growth Eases
The most broad measure of money supply – M2 rose 15.1% y-o-y in May vs. 15.5% consensus and 15.3% rise in April.
Chinese banks issued CNY 552 billion of new loans in May vs. CNY 740 billion in April and consensus of CNY 650 billion. New loan issuance January-May is 11.7% lower than in 2010.
U.S. Natural Gas Weekly – June 10, 2011
Working gas in storage rose 80 Bcf from previous week. The consensus was at 78 Bcf.
Storage level is 269 Bcf lower than same time year ago and bellow 5-year average.
This looks promising.
Daily Reading – Friday, June 10, 2011
*** The Big Picture: Checklist: How to Spot a Bubble in Real Time ***
*** The Big Picture: The Great QE2 Flush Out ***
*** The Big Picture: Hours of Labor Required to Buy One Unit of Gold or Oil ***
*** Pragmatic Capitalism: Paul Krugman & Richard Koo Are Both Wrong ***
*** FT Alphaville: Doubling a losing bet, really fast ***
*** FT Alphaville: When algorithms fight, natgas edition ***
*** FT Alphaville: The future is all about cross-asset arbitrage ***
*** FT BeyondBRICs: China’s skyscraper boom: next a bust? ***
*** Gregor.us: The World Turns to Coal ***
*** Bloomberg: Tracking Talent Flows in Silicon Valley ***
*** guardian.co.uk: US universities in Africa ‘land grab’ ***
China Trade Balance Surplus Smaller Than Expected In May
China trade balance was reported at USD 13.5 billion vs. USD 11.4 billion in April and USD 19.3 billion consensus. Export and import growth were running at 19.4 and 28.4 percent vs. 29.9 and 21.8 percent y-o-y in April.
Big miss, but we had large positive surprise in April.
Video Of The Day – ECRI’s Lakshman Achuthan: Outlook for Growth
ECRI’s Lakshman Achuthan talks on global outlook for growth.
U.S. Petroleum Weekly – June 9, 2011
Demand is strengthening, crude oil stocks declined, distillates increased. Supply/demand balance is tight.
U.S. Initial Jobless Claims At 427.000; Up 1.000
Initial jobless claims in the U.S. were reported at 427.000 vs. 418.000 consensus and last week revised (up 4.000) reading of 426.000.
Historically quite high level, consistent with a bellow average economic growth.
Daily Reading – Wednesday, June 8, 2011
*** The Big Picture: Behind Ben’s psyche says ‘QE more’ always possible again ***
*** Thin Progress: The Myth Of The Jobless Recovery ***
*** FT Alphaville: China has ‘upped the ante’ in financial suppression, Dylan Grice says ***
*** FT Alphaville: Oxymoronic LME stocks ***
*** FT Alphaville: Sino-Forest: the case for the prosecution ***
*** FT Alphaville: Sino-Forest: the case for the defence ***
*** FT Alphaville: Nomura says not a lot of cash growing on Sino Forest’s trees ***
*** Financial Post: Muddy Waters Sino-Forest research ‘pile of crap’: Dundee ***
*** DealB%k: A Trader, an F.B.I. Witness, and Then a Suicide ***
MBA Mortgage Applications Down 0.4%
MBA mortgage applications fell 0.4%; Prior reading was a fall of 4.0%; On year level MBA Basic Index is down 7.7%.
Daily Reading – Monday, June 6, 2011
*** The Big Picture: ECRI Leading Indicators: Slowing Growth ***
*** The Big Picture: Felix Zulauf: Storm clouds over markets ***
*** The Big Picture: Oh, No, Not the End of the World (Again) ***
*** The New York Times: When a Nobel Prize Isn’t Enough ***
*** JESSE’S CAFÉ AMÉRICAIN: Comex Silver Inventories Reach New Lows As a Forced Resolution Approaches ***
Dry Bulk Weekly – June 6, 2011
Baltic dry index rose 1.5% last week; Capesize Index was up 8.1%; Panamax Index fell 4.1%; Supramax Index was down 1.0%; Handysize Index fell 1.9%.
Thermal coal stockpiles ticked up but are still at extremely low levels; Steel stockpiles fell but stocks are high; Iron ore stockpiles recorder a massive rise reaching new record high. Prices still strong.
Iron ore inventory rise could be a early warning sign of stronger than expected China slowdown.
Tanker Weekly – June 6, 2011
Baltic Dirty Tanker Index fell 4.1%; Baltic Clean Tanker Index fell 6.0%.
Holidays in the U.S. and in Europe slowed the demand and brought lower rates.