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07/01/2009
Obama and the oil and gas industry.
"I am just absolutely flabbergasted," said Houston oilman Bruce
Vincent, vice chairman of the Independent Petroleum Association of
America. "It's like putting a dagger in the heart of the oil and gas
industry in America. If you actually did all these things, it would
kill the industry."
Under the president's budget proposals, companies
leasing federal lands in the Gulf of Mexico would no longer get
waivers or deferrals for federal royalties on oil and gas produced
from certain fields. That change would bring in an estimated $5.3
billion between 2010 and 2019.
06/30/2009
Lloyds
List, Marcus Hand, Singapore
THE correlation between the Baltic Dry Index and
the outlook for the world economy has been broken and is unlikely to
return over the next 18 months. A year ago the movement of the BDI
was being regularly quoted as an indicator of where the health of
the global economy was headed.
05/19/2009
Dahlman Rose, which specializes in banking
and research for natural-resource supply-chain companies,
upgraded six shippers to its "buy" rating: Diana, Eagle,
Genco, Paragon, Safe Bulk Carriers (SB) and Star Bulk
Carriers (SBLK).
04/24/2009
Cantor Fitzgerald has become the latest investment
bank to cut tanker freight rate forecasts for this year and 2010, as
fleet expansion outpaces slowing growth in oil demand. The bank has
lowered rate predictions for every segment of the tanker market and
forecasts that asset values will drop as well.
04/06/2009
High-Yield Default Rate to Reach
53% Over Five Years, Reid Says
April 6 (Bloomberg) -- About 53
percent of U.S. companies that issued high-risk, high-yield bonds
will default over the next five years, according to Jim Reid at
Deutsche Bank AG.
(more ...)
03/30/2009,
News & Updates
OCC’s Quarterly Report on Bank Trading and
Derivatives Activities
Fourth Quarter 2008
"The notional value of derivatives held by U.S. commercial banks
increased $24.5 trillion in the fourth quarter, or 14%, to $200.4
trillion, due to the migration of investment bank derivatives
business into the commercial banking system."
(click
here
for full report)
Corp bonds face refinancing costs
"As the global recession deepens,
profitability and operating cash flow are deteriorating even for
many investment-grade companies," Moody's said. That means that more
companies will likely violate covenants, or terms of lending
agreements, the agency said. The majority will likely be able to
negotiate new terms, but may have to pay substantial fees to do so,
Moody's said.
03/14/2009,
News & Updates
Residential Mortgages
Another perfect storm ? Click on
chart to enlarge.
Please confirm and double-check at the
source(s).
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