Sun, Jun. 26, 6:35 AM
- Panama officially opens an addition to its legendary sea canal today, capping a nine-year, $5.4B expansion project that will double shipping capacity and affect global trade routes.
- A third lane has been added to the waterway that can accommodate a new generation of super cargo ships large enough to carry up to 14K containers, compared with around 5K currently.
- Check out a time-lapse video of the construction here
- Related tickers: MATX, KEX, CMRE, SSW, DAC, NMM, SINO, SB, DCIX, GOGL, ALEX, DAC, GSL, ESEA, EURN, NAT, OSGB, TGP
Tue, May 24, 8:15 AM
Thu, Feb. 18, 8:49 AM
Nov. 10, 2015, 4:14 PM
- Euroseas (NASDAQ:ESEA): Q3 EPS of -$0.26 beats by $0.26.
- Revenue of $11.3M (+13.6% Y/Y) beats by $1M.
Aug. 12, 2015, 9:51 AM
- The Baltic Dry Index fell 5.9% to 1093 in a reaction to developments in China. The BDI was off almost 3% yesterday.
- The downward swing was driven by a 15% decline in Capesize shipping rates.
- Notable movers: Dry Ships (DRYS -2.4%), FreeSeas (FREE -11.6%), Diana Containership (DCIX -5.4%), Genco Shipping & Trading (GNK -0.7%), Star Bulk Carriers (SBLK -1.8%), Navious Maritime Holdings (NM -1.7%), Safe Bulkers (SB -3.9%), Euroseas (ESEA -2.9%).
Aug. 11, 2015, 6:02 PM
- Euroseas (NASDAQ:ESEA): Q2 EPS of -$0.65 beats by $0.15.
- Revenue of $9.4M (-2.5% Y/Y) misses by $0.4M.
May 20, 2015, 4:08 PM
- Euroseas (NASDAQ:ESEA): EPS of -$0.10 misses by $0.04.
- Revenue of $8.18M (-13.8% Y/Y) misses by $2.22M.
May 9, 2015, 11:27 AM
- The broadly-defined shipping sector continues to be volatile over the impact of oil price fluctuations and concerns over carrier/tanker supply along with charter rates.
- The Baltic Dry Index stands at 574 vs. a 52-week trading range of 509 to 1,484.
- The Guggenheim Shipping ETF (NYSEARCA:SEA) is down 9.4% over the last 52 weeks, although it trades with smoother peaks and troughs than the underlying stocks in the fund.
- Analysts are convinced that some value picks exist in the sector, although consensus is tricky to find. A few rough screens are listed below (add your own in the comments).
- Best YTD performance: Navios Maritime (NYSE:NAP) +37%, Scorpio Bulkers (NYSE:SALT) +35%, Tsakos Energy (NYSE:TNP) +31%, Golar LNG (NASDAQ:GLNG) +28%.
- Lowest price-to book value: DryShips (NASDAQ:DRYS) 0.14, Safe Bulkers (NASDAQ:SBLK) 0.32, Scorpio Bulkers 0.33, Navios Maritime Holdings (NYSE:NM) 0.34, GasLog (NYSE:GLOG) 0.39.
- Lowest forward P/E ratio: Danaos (NYSE:DAC) 4.43, Tsakos Energy 7.15, Navios Maritime Acquisition (NYSE:NNA) 7.25, Dorian (NYSE:LPG) 7.43, Dry Ships 7.57.
- Dividend yield: Navios Maritime Partners (NYSE:NMM) 15.2%, Capital Product Partners (NASDAQ:CPLP) 10.8%, Ship Finance International (NYSE:SFL) 10.8%, Teekay Offshore Partners (NYSE:TOO) 9.7%, Dynagas LNG Partners (NYSE:DLNG) 8.8%.
- Other shipping stocks: PRGN, FRO, NAT, OSK, TNK, FREE, ESEA, TOPS, DSX, SHIP, NM.
Feb. 13, 2015, 9:09 AM
- Euroseas (NASDAQ:ESEA): Q4 EPS of -$0.07 misses by $0.01.
- Revenue of $11.55M (+19.4% Y/Y) beats by $0.45M.
Jan. 30, 2015, 2:58 PM
- The Baltic Dry Index falls another 3.8% and is now trading at its lowest levels since the 1980s, even as traded volumes of many commodities are reaching record levels.
- The dry-bulk market has been sunk by a perfect storm as new ships ordered after the financial crisis have hit the seas just as Chinese economic growth has slowed and commodity prices have turned lower.
- Earnings for a capesize vessel typically used to transport coal and iron ore have fallen to $6,707/day today, down ~50% Y/Y and hardly enough to cover daily operating expenses of $6K-$10K.
- As one analyst says, some of the share prices are starting to reflect almost a state of bankruptcy: Shares of Scorpio Bulkers (NYSE:SALT), for one, have plunged 85% in the past year, and Star Bulk Carriers (NASDAQ:SBLK) has shed 67% in the same period.
- Related tickers: FREE, EGLE, SB, DRYS, NM, SHIP, ESEA, PRGN, DCIX, GSL, NMM, DSX, DAC, KEX, ULTR, BALT, SINO.
Nov. 10, 2014, 4:49 PM
- Euroseas (NASDAQ:ESEA): Q3 EPS of -$0.07 in-line.
- Revenue of $9.95M (+10.6% Y/Y) beats by $0.05M.
Sep. 25, 2014, 9:17 AM
Aug. 7, 2014, 6:24 PM
- Euroseas Ltd. (NASDAQ:ESEA): Q2 EPS of -$0.09.
- Revenue of $9.63M (+0.6% Y/Y).
May 20, 2014, 4:44 PM
- Euroseas (ESEA): Q1 EPS of -$0.05 beats by $0.04.
- Revenue of $9.49M (-12.5% Y/Y) beats by $0.49M.
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.
Mar. 4, 2014, 11:11 AM
- Select shipping stocks are showing strength today with developments in the Ukraine just a small part of the story.
- Issues of demand and shipping rates in the industry have been in focus, while the reactions of shorts is still an underlying factor.
- Advancers: Eagle Bulk Shippers (EGLE) +9.5%, Diana Shipping (DSX) +3.5%, FreeSeas (FREE) +3.4%, Navios Maritime Holdings (NM) +3.6%, Euroseas (ESEA) +4.6%, Baltic Trading (BALT) +3.8%, Paragon Shipping (PRGN) +2.2%.
- The Baltic Dry Index is up 1.5% on the day.
Euroseas Ltd. engages in the ocean transportation of dry bulk and containers through ownership and operation of dry bulk and container carriers. It provides ocean going transportation services. The company also own and operate containerships and multipurpose vessels that transport dry and... More
Country: United States
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