Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Asian shipping shares jump on strength of BDI

Asian shipping shares jump on strength of BDI

Hong Kong: Asian shipping shares were jumping upwards this morning in unison on the back of a good run for London's Baltic Dry Index. In Tokyo, Mitsui O.S.K. surged 6.6 percent to 569 yen, Nippon Yusen gained 8.2 percent to 371 yen and Kawasaki Kisen Kaisha Ltd. advanced 9.1 percent to 371 yen.
BOA-Merrill lifted its ratings on all three shipping lines to "neutral" from "underperform." The Baltic Dry Index, a measure of rates for shipping commodities, also rose 4.3 percent yesterday in London, the most in almost three months.
In Hong Kong China Cosco rose 1.96 percent in early trading, while China Shipping Development was up 2.23 percent. The Baltic Exchange's main sea freight index rose to a seven-week high on Wednesday.  [08/10/09]

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish