Mining Industries Correspondent
Krishna's Feed
Aug 3, 2011

Yingli boosts Q2 shipment view

BANGALORE (Reuters) – Yingli Green Energy Holding boosted its second-quarter module shipment outlook and backed its gross margin forecast, but its shares fell 7 percent as the Chinese solar panel maker did not provide a much-expected update for the second half.

The solar market likely bottomed in the second quarter, after pullbacks in solar subsidies in the world’s No. 2 market Italy stalled development of projects there, creating an oversupply of solar panels and sparking a more than 20 percent drop in prices.

Aug 3, 2011

Yingli boosts Q2 shipment view; shares fall on H2 fears

BANGALORE, Aug 3 (Reuters) – Yingli Green Energy Holding
boosted its second-quarter module shipment outlook and
backed its gross margin forecast, but its shares fell 7 percent
as the Chinese solar panel maker did not provide a much-expected
update for the second half.

The solar market likely bottomed in the second quarter,
after pullbacks in solar subsidies in the world’s No. 2 market
Italy stalled development of projects there, creating an
oversupply of solar panels and sparking a more than 20 percent
drop in prices.

Aug 3, 2011

PSEG, Constellation Energy signal mixed year ahead

BANGALORE, Aug 3 (Reuters) – Lower costs and an improvement
in gas and electricity rates helped utility owner Public Service
Enterprise Group (PSEG) post a market-beating quarterly
profit and back its forecast for the year, but plant outages
hurt Constellation Energy .

U.S. utilities have been hit hard in the last two years
because of lower natural gas prices and weak economic
conditions.

Aug 2, 2011

Rowan Q2 profit beats on cost control, shares rise

BANGALORE, Aug 2 (Reuters) – Oil and natural gas driller
Rowan Cos Inc posted a market-topping quarterly profit
as it kept a tab on costs despite regulatory delays in the Gulf
of Mexico and civil unrest in the Middle East.

The Houston-based company divested its drilling and mining
equipment unit in May and then hived off its onshore rig fleet
late last month, leaving it with a fleet of 29 shallow water
rigs and a long-stated desire to expand into deepwater.

Aug 1, 2011

Diamond S Shipping gets $1 bln investment

BANGALORE/LONDON, Aug 1 (Reuters) – Diamond S Shipping said
WL Ross, First Reserve and some other global institutional
investors had committed about $1 billion in equity to the
privately held U.S. shipping group as it looks to expand its
fleet amid rising demand for oil.

Diamond will buy 30 medium-range refined product carriers
from privately owned Cido Tanker Holding Co under a deal
expected to close in this calendar quarter. This will add to its
fleet of 10 tankers under construction in Korean shipyards.

Aug 1, 2011

Shipping firm Diamond S gets $1 bln investment

BANGALORE, Aug 1 (Reuters) – Diamond S Shipping said WL
Ross, First Reserve and other global institutional investors
have committed about $1 billion in equity to the privately held
U.S. shipping group as it looks to expand its fleet amid rising
demand for oil.

Diamond will buy 30 medium-range refined product carriers
from privately-owned Cido Tanker Holding Co under a deal
expected to close in this calendar quarter. This will add to its
fleet of 10 tankers under construction in Korean shipyards.

Jul 27, 2011

Power companies see mixed economic picture

NEW YORK/BANGALORE (Reuters) – Three top U.S. power companies posted higher-than-expected quarterly earnings on Wednesday, but drew a mixed picture of the nation’s economic outlook and demand for electricity.

Exelon Corp (EXC.N: Quote, Profile, Research, Stock Buzz), which operates the largest U.S. fleet of nuclear power plants, raised its full-year profit forecast based on results in the first half, when it relied on strong residential and small-business demand to offset weak electricity usage from industrial customers.

Jul 27, 2011

U.S. power companies see mixed economic picture

NEW YORK/BANGALORE, July 27 (Reuters) – Three top U.S. power
companies posted higher-than-expected quarterly earnings on
Wednesday, but drew a mixed picture of the nation’s economic
outlook and demand for electricity.

Exelon Corp , which operates the largest U.S. fleet
of nuclear power plants, raised its full-year profit forecast
based on results in the first half, when it relied on strong
residential and small-business demand to offset weak electricity
usage from industrial customers.

Jul 26, 2011

DryShips to buy OceanFreight for $118 mln

BANGALORE, July 26 (Reuters) – DryShips Inc , a
Greece-based dry cargo shipper, said it would acquire smaller
rival OceanFreight Inc for $118 million to increase
the number of large ships in its fleet when asset prices are
low.

The Baltic Exchange’s main sea freight index , which
tracks rates to ship dry commodities, has lost over a quarter of
its value this year as vessel oversupply outpaces demand to ship
commodities.

Jul 25, 2011

Baltic index falls on low iron ore activity

BANGALORE, July 25 (Reuters) – The Baltic Exchange’s main
sea freight index , which tracks rates to ship dry
commodities, fell for the 12th straight session on Monday as
rates for capesizes remained low due to a lack of iron ore
cargoes.

The index, which gauges the cost of shipping commodities
including iron ore, cement, grain, coal and fertiliser, fell 6
points, or 0.45 percent, to 1,317 points. The index has been
erratic this year, trading between 1,300 and 1,500 points as
ship oversupply outpaces demand to ship commodities.

    • About Krishna

      "I have been covering India's metals and mining industries from New Delhi since April Fool’s Day, 2013. Before that I led two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies. I have closely followed the solar and shipping industries and love to write on cricket whenever I can."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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