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1561-1580 of 3100
Any experts able to advise whether (and how) this will affect the price in singapore?
Cause today didn't see any major sell down...
dcang84 ( Date: 16-Dec-2008 15:37) Posted:
Cosco shares fall after $577 million derivative loss
Chinese shipper says losses related to 'dramatic' decline in Baltic Dry Index
By Chris Oliver, MarketWatch Last update: 12:17 a.m. EST Dec. 16, 2008
HONG KONG (MarketWatch) -- China Cosco Holdings Co., one of the mainland's largest shipping and cargo operators, said Tuesday it has incurred losses of 3.95 billion yuan ($577 million) from misplaced bets on the direction of bulk-shipping rates.
Cosco's shares traded lower on the news, with those in Hong Kong ( HK:1919: news, chart, profile) falling 2.8%, while those in Shanghai fell 7.2%. The Beijing-headquartered and state-owned shipping line said its dry-bulk unit purchased freight forward agreements linked to the Baltic Dry Index to lock in the cost of chartered-in vessels. These contracts, purchased when the index averaged 7,123 points, racked up huge losses as freight rates plunged, hitting 764 on Dec. 12. The freight rate has averaged 1,224 since Oct. 1.
"The global economic crisis further deteriorated since the fourth quarter, which has greatly affected the global shipping market," China Cosco said in a statement filed with the Hong Kong Exchanges & Clearing Tuesday. "The basic freight level of major shipping routes has declined dramatically."
Shippers and ship owners use freight-forward agreements, a type of option traded on the Baltic exchange, to hedge against price changes in the ocean freight market. The options are priced on the basis of the Baltic Dry Index, which reflects the spot rates of the global bulk shipping market.
The index ended at 803 Monday, compared to a record close of 11,793 on May 20.
China Cosco said it had a fair-value loss of 5.38 billion yuan on the freight forward agreements, but it was partly offset by a 1.43 billion yuan gain related to contracts that have been completed.
The shipping line said its business has also been hurt by falling demand and softer rates in its container-shipping business.
China Cosco, founded in 1961, operates a fleet of container cargo and dry-bulk ships. The company also provides port handling and logistics services. 
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Cosco shares fall after $577 million derivative loss
Chinese shipper says losses related to 'dramatic' decline in Baltic Dry Index
By
Chris Oliver, MarketWatch
Last update: 12:17 a.m. EST Dec. 16, 2008
HONG KONG (MarketWatch) -- China Cosco Holdings Co., one of the mainland's largest shipping and cargo operators, said Tuesday it has incurred losses of 3.95 billion yuan ($577 million) from misplaced bets on the direction of bulk-shipping rates.
Cosco's shares traded lower on the news, with those in Hong Kong (
HK:1919:
news,
chart,
profile) falling 2.8%, while those in Shanghai fell 7.2%.
The Beijing-headquartered and state-owned shipping line said its dry-bulk unit purchased freight forward agreements linked to the Baltic Dry Index to lock in the cost of chartered-in vessels. These contracts, purchased when the index averaged 7,123 points, racked up huge losses as freight rates plunged, hitting 764 on Dec. 12. The freight rate has averaged 1,224 since Oct. 1.
"The global economic crisis further deteriorated since the fourth quarter, which has greatly affected the global shipping market," China Cosco said in a statement filed with the Hong Kong Exchanges & Clearing Tuesday. "The basic freight level of major shipping routes has declined dramatically."
Shippers and ship owners use freight-forward agreements, a type of option traded on the Baltic exchange, to hedge against price changes in the ocean freight market. The options are priced on the basis of the Baltic Dry Index, which reflects the spot rates of the global bulk shipping market.
The index ended at 803 Monday, compared to a record close of 11,793 on May 20.
China Cosco said it had a fair-value loss of 5.38 billion yuan on the freight forward agreements, but it was partly offset by a 1.43 billion yuan gain related to contracts that have been completed.
The shipping line said its business has also been hurt by falling demand and softer rates in its container-shipping business.
China Cosco, founded in 1961, operates a fleet of container cargo and dry-bulk ships. The company also provides port handling and logistics services.
are we lookin at a possible head n shoulder pattern?
mother of s-share recovery steady,,,,,,,,,,,,all baby steady follow up,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,cheers
Those who buy the way up from 70 has already sold and take profit. There is no hope but to see it down. Tonight US data would give the US index a double hit. I do not believe US index can continue to put up a brave front. See how long they can continue to go up. Europe markets are already see big losses. Perhaps dows should follow a 700 points drop tonight....
should say is flying kite instead !!
hotstock ( Date: 12-Dec-2008 12:57) Posted:
Now it is below $1. Please do not catch a flying knife and wait till it falls all the way back to its RECENT FAMILIAR level of 70c.
Do your homework that Cosco is always gaining and falling in big magitude. |
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Who keep pushing Cosco up? really so confidence?
Now it is below $1. Please do not catch a flying knife and wait till it falls all the way back to its RECENT FAMILIAR level of 70c.
Do your homework that Cosco is always gaining and falling in big magitude.
sold off all mine at 1.09 and 1.14. tis rally wont last, there will be a correction, then upwards again until 2000-2200? then im expecting sti to head down 1200. dats when i will put all my cash in!
It is time to sell if you have not. THe run up of almost 50% from 70 is baseless. No matter what stimulus China has, it is not a miracle in a short time. Q3 09 recovery is no guarantee. For me I have disposed off all my holding and waiting it to come back to 70 and see STI at 1200...
Do not be blind by the year end effect.
COSCO power up when shippers are pulling back orders for shipbuilding..
what gives?
wah...still a long way to go...remember it was like 2.49 or somethg during Jun/Jul 2008 ?? :D
share price always react early than the fact !
Brendan982201 ( Date: 10-Dec-2008 21:11) Posted:
| Can someone enlighten me why the surge in price? I though BDI is low n yet price surge up? |
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Can someone enlighten me why the surge in price? I though BDI is low n yet price surge up?
Singaporegal, Good snapshot. Zhun man... What do you think of the trend next few wks?? Can buy when consolidates?
singaporegal ( Date: 04-Dec-2008 19:47) Posted:
| The recent spike in volume with increase in price looks interesting from TA view... watch this closely.... |
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Missed this one i didnt buy when it was 0.7. I was scared then
ya good la.. waiting so long liao. Finally moving in favour.
Burning smell so strong ! I thought my computer wire burn !!
wah...looks like another over-sold counter catching up !! China-GLCs buyin is it ? hee
cosco from .7 to $1 in a couple of weeks..
what happened to all the scare talk abt shipbuilders goin down?
