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Dec. 12, 2014, 10:09 AM
- The number of supertankers sailing to China surges to record highs amid signs that crashing oil prices are leading the country to stockpile.
- Bloomberg reports 83 VLCCs are bound for Chinese ports, which would transport 166M barrels (assuming standard cargoes) for the largest amount since at least Oct. 2011; daily shipping rates on the tanker industry’s benchmark trade route from the Middle East to Asia jumped to $81.5K yesterday, the highest since Jan. 2010, according to Baltic Exchange data.
- Oil tanker operators are higher: FRO +24.5%, DHT +6.9%, TNK +2.5%, NAT +1.4%.
Dec. 12, 2014, 9:16 AM
Dec. 11, 2014, 12:45 PM
Dec. 1, 2014, 12:46 PM
Dec. 1, 2014, 9:13 AM
Nov. 25, 2014, 12:45 PM
Nov. 25, 2014, 5:51 AM
- Frontline (NYSE:FRO): Q3 EPS of -$0.15 beats by $0.05.
- Revenue of $65.94M (+28.5% Y/Y) beats by $3.58M.
Oct. 28, 2014, 9:13 AM
Oct. 20, 2014, 7:56 AM
- Frontline (NYSE:FRO) names Robert Macleod as its new CEO.
- Macleod joins the company after serving as the managing director of Highlander Tankers.
- The exec will start at Frontline on November 3.
Oct. 1, 2014, 12:46 PM
Oct. 1, 2014, 12:15 PM
- Frontline (FRO +15.1%) powers higher after teaming with Tankers International to form a new company, VLCC Chartering, to create a larger fleet with more flexibility and more options for cargo owners and a single point of contact.
- VLCC Chartering will have a combined fleet of nearly 60 large tankers, which means it will control nearly 10% of the 639-ship market.
- The new venture is expected to reduce voyage related expenses and improve net earnings of the very large crude carriers operated by both companies.
Oct. 1, 2014, 9:12 AM
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. 4, 2014, 12:47 PM
Aug. 29, 2014, 12:45 PM
Aug. 29, 2014, 9:23 AM| Aug. 29, 2014, 9:23 AM
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