Fri, May 29, 5:56 AM
Thu, May 28, 5:30 PM
Thu, May 28, 11:15 AM
- Despite crude oil’s rebound from six-year lows, the tanker market is sending a clear signal that the rally is under threat, according to a Bloomberg analysis.
- A surge in demand for supertankers drove benchmark charter rates 57% higher in the two weeks through May 20; OPEC will have almost 500M barrels of oil in transit to buyers at the start of June, the most this year, while analysts say ~20M barrels is being stored on ships in another indication the supply glut has yet to dissipate.
- Daily rates for supertankers on the industry’s benchmark route reached $83,412 on May 20, from $52,987 on May 6, according to the Baltic Exchange; while rates have since retreated to $65,784, they are still the highest for this time of year since at least 2008.
- "There still seems to be a lot of physical activity, a lot of oil on the water," says the head of research at Hartland Shipping in London; while Q2 is usually quieter as refineries switch to summer fuels for the Northern Hemisphere, “the market is still busy and rates are incredibly high.”
- Relevant tickers: FRO, TK, TNK, TOO, TGP, TNP, GLNG, STNG, NAT, DHT, EURN
Wed, May 27, 11:18 AM
- Frontline (FRO +6.1%) is sharply higher after Morgan Stanley upgrades shares to Equal Weight from Underweight with a $3 price target, saying FRO's liabilities are finally manageable after five difficult years and allowing shareholders to benefit from the thriving tanker market.
- Stanley sees additional growth ahead in the sea-borne crude supply as increasing Libyan and Iranian oil supply reaches the market, while fleet supply growth is likely to be muted until year-end 2015; as a result, the firm expect FRO's spot and highly levered fleet to be positioned to generate significant profits this year.
- Having restructured its liabilities over the past three years, FRO's financial risks are easily manageable going forward, the firm believes.
Fri, May 22, 9:16 AM
Fri, May 15, 2:59 PM
- Rates for the world’s biggest oil tankers surged to the highest since January as shipments accelerated from Saudi Arabia and Iraq, Bloomberg reports.
- Ships hauling 2M-barrel cargoes of Saudi crude to Japan, a benchmark route, earned ~$81.5K/day, a 13% gain from Thursday and the highest for the time of year since at least 2009.
- Tanker rates rose on 15 out of 16 routes tracked by the Baltic Exchange, led by advances in prices from the Persian Gulf.
- Relevant tickers: FRO, TK, TNK, TOO, TGP, TNP, GLNG, NAT, DHT
Sat, May 9, 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.
Fri, May 8, 9:16 AM| Fri, May 8, 9:16 AM | 4 Comments
Thu, Apr. 30, 9:19 AM
Mon, Apr. 13, 9:15 AM
Fri, Feb. 27, 9:15 AM
- Gainers: XIN +20%. CYCC +17%. SREV +16%. BLOX +16%. CYTX +13%. CLNE +12%. MNST +10%. ATOS +10%. SD +9%. SPLK +7%. MEET +6%. ARUN +6%. VIMC +6%. HZNP +6%.
- Losers: CVSL -42%. RESN -28%. MOSY -21%. WTW -18%. TUBE -17%. TBIO -14%. JCP -13%. DRL -13%. GENE -11%. OCN -8%. PBPB -8%. NBG -8%. NVAX -7%. FRO -5%.
Thu, Feb. 26, 12:57 PM
Thu, Feb. 26, 3:38 AM
Wed, Feb. 25, 5:30 PM
- ACIW, ACTA, AES, AKRX, AMCX, AMWD, ANSS, ARCC, BDBD, BIN, BUD, CCG, CHS, CNP, CNSL, CRI, CWEI, CYBX, DDD, EME, EXH, EXLP, FCH, FIG, FRO, GCAP, GOGO, HAWK, HEES, HSC, HSNI, ICON, IQNT, IRDM, ITC, KOP, KSS, LKQ, LPI, LTM, MBLY, MDXG, MGLN, MITL, MRGE, [[NTi]], NTLS, NXST, NXTM, OGE, ONE, RHP, SDRL, SEAS, SFY, SHLD, SNAK, SNH, SNMX, SRE, SRPT, TASR, TD, TICC, TWI, VAC, VC, VICL, WAC, WNR, XCRA, ZEUS
Tue, Feb. 24, 9:16 AM
Mon, Feb. 2, 12:49 PM
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