Baltic Dry Index: Turning The Corner
Jonathan Cho • 12 Comments
Jonathan Cho • 12 Comments
DryShips: Poised For An Upturn?
Andres Rueda • 18 Comments
Andres Rueda • 18 Comments
Oct. 10, 2014, 3:06 PM| Oct. 10, 2014, 3:06 PM | 1 Comment
Sep. 16, 2014, 3:57 PM
- Ocean shipping of dry bulk commodities and oil will nearly double earnings capacity during the next several years while the smaller container ship industry will tread water, Deutsche Bank says.
- The firm believes the industry is "on the cusp of entering a new era of prosperity," driven by improved supply/demand dynamics, increased fleet utilization and abundant capital to fund profitable growth.
- On average, DB forecasts a near doubling of earnings power across its coverage universe by 2016 vs. 2013, led by shippers in the Dry Bulk and Oil trades.
- Initiated with Buy ratings: TNK +9.8%, CPLP +2.5%, DSX +2.8%, DRYS +5.5%, DLNG +2.4%, NNA +2.1%, SALT +0.8%, SSW +1.3%, GASS +3.3%.
- Started at Hold: TK +1.2%, NMM +0.3%, FRO +3.3%, TGH -0.6%.
Sep. 16, 2014, 9:32 AM
Sep. 15, 2014, 5:38 PM
Sep. 3, 2014, 2:34 PM
- DryShips (DRYS -1.5%) says it canceled newbuilding contracts for four ice-class panamax bulker vessels under construction at debt-ridden Rongsheng Heavy Industries.
- DRYS had paid $11.5M for the vessels but got that money back plus interest in the cancellation; it had paid ~$124M before the decision to cancel the deal.
Aug. 18, 2014, 10:32 AM
- Drybulk shipping rates continue to move higher, adding to last week's run as iron ore shipments out of Brazil and Australia pick up.
- On Friday, drybulk rates as measured by the Baltic Dry Index rose 7.7%, capping a 31% gain for the week driven by strength across the board but mainly in Capesize and Panamax rates.
- After beginning its ascent on July 23, the BDI has jumped 40%, rising in every session except one.
- Last week, Capesize rates surged 65% to $15,561/day, Panamax rates climbed 29% to $6,397/day, and Supramax rates added 9% to $9,170/day.
- Related drybulk stocks include: DRYS +2%, PRGN +4.1%, DSX +1%, FREE +8.2%, EGLE -2%, NM +2.5%, NMM +0.7%, SBLK +1.1%, SB +1.7%, BALT +2.5%, SHIP -2.1%, DCIX +2.2%.
Aug. 14, 2014, 10:53 AM
- Drybulk shipping rates, as measured by the Baltic Dry Index, surged 8.2% overnight, driven by strength across the board but mainly in capesize and panamax rates.
- Capesize rates jumped 15.7% to $13,677/day, Panamax rates climbed 9.7% to $5,883/day, and Supramax rates rose 1.9% to $9,004/day.
- Related drybulk stocks include: DRYS +2.6%, PRGN +5.8%, DSX +3.9%, FREE +7.9%, EGLE +2.2%, NM +5.6%, NMM +1%, SBLK +6.2%, SB +5.7%, BALT +3.8%, SHIP +0.7%, DCIX flat.
Aug. 5, 2014, 4:05 PM
- DryShips (NASDAQ:DRYS): Q2 EPS of -$0.01 beats by $0.05.
- Revenue of $527.6M (+57.0% Y/Y) beats by $45.53M.
- Shares +1.5%.
Aug. 4, 2014, 5:35 PM
- AMTG, APEI, ARC, ATSG, ATVI, AVNR, AWR, AXLL, BIO, BKH, BMR, CHUY, CLR, CRTO, CSU, DAVE, DIS, DPM, DRYS, ENPH, EOG, FANG, FEYE, FRGI, FSLR, FTR, FUEL, GMED, GRPN, HCI, HGR, HT, ITRI, JAZZ, JCOM, KAR, LBTYA, MCHX, MITT, MODN, MPO, MRCY, NSTG, NYMT, OAS, OKE, OKS, ORA, ORIG, PBPB, PEGA, PNNT, PRAA, PZZA, QUAD, REXX, RLD, RST, RSYS, SGMS, SGY, SKT, SMCI, TDW, TMHC, TPC, TRMB, TTWO, UNTD, WBMD, WES, WGP, WMGI, WTR, XEC, Z, ZAGG, ZGNX
Jun. 6, 2014, 2:53 PM
- Ocean Rig UDW (ORIG +0.8%) says it firmed up a deal with Total (TOT) involving the 12K-ft. drilling depth Ocean Rig Skyros that will keep one of its newest deepwater drillships employed off Angola for six years; the contract is expected to commence in Q3 2015 and has an estimated backlog of $1.3B.
- ORIG made news earlier this week after lining up a contract for the Eirik Raude; Evercore analysts view the deal favorably even though the ~$560K/day rate was a bit below estimates, given expectations for a softening rate environment and the rig's challenging competitive position as a 12-year old, fifth generation semi-submersible.
Jun. 4, 2014, 11:12 AM
- DryShips (DRYS +4.8%) announces it signed a drilling contract with Ocean Rig for the use of the Eirik Raude rig.
- The estimated length of the contract is for 260 days.
- The contract is scheduled to begin in Q1 of 2015.
May 22, 2014, 4:06 PM
- DryShips (DRYS): Q1 EPS of -$0.04 misses by $0.04.
- Revenue of $457.48M (+43% Y/Y) beats by $11.92M.
May 21, 2014, 5:35 PM
Apr. 21, 2014, 12:23 PM
- Genco Shipping (GNK) has filed for bankruptcy, Bloomberg reports, as weakness in charter rates for its dry-bulk cargo ships made it difficult for the company to pay its creditors; shares have been halted since the open.
- GNK reportedly listed assets of $2.4B and debt of $1.5B in a Chapter 11 filing.
- Other shippers on the radar: DRYS, PRGN, DSX, FREE, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, ESEA, DCIX, TEU, DAC, SHIP, SSW, GSL.
Apr. 11, 2014, 5:37 PM
Mar. 20, 2014, 11:13 AM
- Drybulk shipping rates are up big during past five weeks and rose again overnight.
- The Baltic Dry Index rose 3.2% overnight and has surged 49% since Feb. 12; the BDI has gained in 24 of the last 26 sessions, led by a 211% rise in capesize rates.
- Capesize rates climbed 6.9% (or $1,664/day) overnight to $25,659/day, while panamax rates rose $4/day to $9,019/day and supramax rates added 0.4% ($48/day) to $12,598/day.
- Related drybulk equities include DRYS, GNK, PRGN, DSX, FREE, ULTR, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, SHIP, DCIX.
DryShips, Inc. engages in ocean transportation services for drybulk and petroleum cargoes. The company operates its business through three segments: Drybulk, Tanker and Drilling. The Drybulk segment provides drybulk commodities transportation services for the steel, electric utility,... More
Country: United States
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