Wed, Nov. 11, 8:25 AM
Mon, Oct. 19, 10:21 AM
- JPMorgan is pointing to economic news out of China as a positive sign for tanker stocks.
- The investment firm notes that China was a net exporter of refined products for the third straight month and saw a significant jump in crude oil imports.
- Despite the positive spin from JP, the tanker sector is trading mostly lower on macroeconomic developments, including a sub-7% GDP print from China. Dry bulk shipping stocks are mixed on the day.
- Related stocks: DHT, FRO, NNA, TNP, TNK, NAT, SFL, EURN.
Tue, Jul. 21, 10:32 AM
- The crash in oil prices is good for business for operators of the supertankers capable of hauling more than 2M barrels of crude around the world, such as Frontline (FRO +9.1%), Teekay Tankers (TNK +4.2%), Nordic American (NAT +2.6%), DHT Holdings (DHT +2.4%) and Euronav (EURN +1.5%), whose stocks have been moving up in recent weeks.
- The oil market rout that started in 2014 is a boon that could allow the companies to reduce debt, invest in new vessels and reward shareholders that have stuck with them through some very lean years, FT reports.
- Since the start of the year, the cost of hiring a VLCC has jumped more than 50%, with the rate for shipping oil from Saudi Arabia to Japan - the benchmark supertanker route - rising to $93.6K/day, a seven-year seasonal high.
- The supply of supertankers also has fallen sharply since 2008.
- Other related tickers: GLNG, GNRT, SFL, NAO, ASC, TOO, TK, TGP
Fri, Jul. 10, 10:33 AM
- Notable movers in the shipping sector include DryShips (DRYS +3.1%), Danaois (DAC +5.6%), and Paragon Shipping (PRGN +1.6%).
- Some names in the volatile sector has been trading off of developments in Greece even with many of the Greece-based companies deriving nearly all their revenue outside the nation.
- On a broader look, the Baltic Dry Index is +21 to 874. The breakdown shows the Cape index is 1279 with a spot price of 9612 vs. 11,149 a year ago, the Panamax index is 1052 with a spot price of 8380 vs. 5432 a year ago, and the Supramax index is 767 with a spot price of 8021 vs. 7099 a year ago.
- The Baltic Tanker Clean Index is 837 vs. 521 a year ago and the Baltic Dirty Index is 857 vs. 786 a year ago.
- The Guggenheim Shipping ETF (NYSEARCA:SEA) is +1.43% on the day and -4.12% YTD.
- Related stocks: TNK, EURN, TGP, NMM, SSW, SFL, TK, SMM, TOO, GMLP, DHT, NM, MATX, NAT, FREE, DSX, SB, FRO.
Thu, Jun. 18, 10:21 AM
- Shipping stocks are active on a sustained jump in the Dry Baltic Index.
- The index is up 6.5% on the day and has now rallied over 25% since late May.
- Prices for the Cape, Panamax, and Supramax categories of vessels are all higher.
- Stocks on the move include Diana Shipping (DSX +4.5%), Golden Ocean Group (GOGL +4.1%), DryShips (DRYS +2.5%), Frontline (FRO +1.9%), Navios Maritime Holdings (NM +2.2%), Star Bulk Carriers (SBLK +1.9%), Matson (MATX +2.1%), Euronav (EURN +1.4%), Navios Maritume Acquisition (NNA +2.6%), Nordic American Tankers (NAT +1.1%).
Mon, May 11, 2:31 PM
- Nordic American Tankers (NAT +4.0%) trades higher after beating estimates with its Q1 report.
- The company notes tanker rates rose 54% Q/Q and 41% Y/Y to $37K per day per vessel/
- Looking at the tanker market as a whole, Nordic American Tankers says reduced imports to the U.S. are being offset an increase in imports to the Far East.
- Previously: Nordic American Tankers beats by $0.12, beats on revenue
Fri, Jan. 9, 12:25 PM
- Frontline (FRO +10.1%) has now jumped 63% this week amid speculation that a plunge in crude prices is spurring demand for the vessels to store cargoes.
- “The re-emergence of floating storage is what could move the crude tanker market this year from being rather good to possibly very very good," says a shipping analyst at Pareto Securities in Oslo.
- Traders may park as much as 60M barrels of oil on tankers in the coming months, according to consulting firm JBC Energy.
- Among other tanker companies: TK +1.2%, TNK +3.4%, TOO -0.3%, TGP -0.1%, TNP -0.7%, GLNG -1.9%, NAT -0.6%, DHT +3.1%.
- Earlier: Reuters: Oil glut sparks top traders to book supertankers for storage at sea
Wed, Jan. 7, 9:43 AM
- Select shipping stocks are outperforming off of some fresh positive comments on the sector by analysts.
- Frontline (FRO +9.2%), following up on yesterday's brisk rally, is leading the charge.
- Gainers: DHT Holdings (DHT +6.1%), Teekay Tankers (TNK +1.7%), Nordic American Tankers (NAT +2.5%), Ship Finance International (SFL +0.9%).
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%.
Nov. 26, 2014, 5:37 PM
Jun. 13, 2014, 5:37 PM
May 12, 2014, 11:24 AM
- Nordic American Tanker (NAT +4.1%) is higher after reporting Q1 EPS of $0.05 vs. a $0.31 loss in Q4 2013 and a $0.59 loss in the year-ago quarter, and net operating cash flow of $27.1M vs. $1.9M in Q4 2013 and -$4.9M in the year-ago quarter.
- Says tanker rates achieved on average for Q1 were $26.3K/day per vessel for its trading fleet, vs. $14.1K/day in Q4 2013.
- Other tanker shares also are higher: VLCCF +5.9%, FRO +4%, TNK +3.1%, TK +1.5%.
Apr. 8, 2014, 12:45 PM
Apr. 8, 2014, 9:16 AM
Apr. 8, 2014, 9:06 AM
- Nordic American Tanker (NAT) -10.2% premarket after upsizing its public offering by 2M shares to 12M shares of common stock at $8.62/share.
- NAT says it plans to use the proceeds primarily to finance the acquisition of potentially two to four vessels, depending on the age of the vessels, and general corporate purposes.
Apr. 7, 2014, 5:36 PM
Nordic American Tankers Ltd formerly Nordic American Tanker Shipping Limited is an international tanker company that owns 24 double-hull Suezmax tankers, two of which are newbuildings that average approximately 156,000 dwt each.
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