Navios Maritime Partners L.P.NYSE
Thu, Nov. 17, 7:37 PM
- Today's trading brought a reality check for dry shippers: DRYS closed -85%, DCIX -68%, GLBS -58%, SHIP -46%, ESEA -43%, TOPS -28%, SINO -26%, GNK -24%, PXS -23%, EGLE -22%, DSX -15%, NMM -5%.
- DryShips lit the fuse when it announced a share sale to raise $20M, but and Diana Containerships and Diana Shipping chimed in with quarterly earnings that missed expectations (I, II).
- "It's people coming to their senses," says Stifel's Benjamin Nolan, who covers maritime sectors. "These kinds of extreme rallies that aren’t entirely linked to fundamentals don't tend to be permanent."
- Investors likely also were worried that other companies would follow DRYS' lead with their own stock offerings.
- "Given the sheer size of the volume and the continued (relentless) pricing movements, we believe momentum based algorithms (quant trading) are likely a very significant factor/catalyst at this point," says Wells Fargo's Michael Webber.
- But Webber also says the troubled sector provides an opportunity for longer-term investors once the market settles down.
Thu, Nov. 17, 10:16 AM
- There are broad gains again in the shipping sector off some rampant speculation and short interest sorting out. Many analysts and trade publications are having a tough time getting a handle on the frenzied action.
- Looking ahead -- the Hanjin bankruptcy factor, the rollback of sanctions, M&A and the Jones Act are considered sector wildcards.
- Notable movers include Global Ship Lease (GSL +39%), Diana Containerships (DCIX +5%), Navios Maritime Partners (NMM +12.9%), Safe Bulkers (SB +2.6%), Overseas Shipholding Group (OSG +2.7%), Gener8 Maritime (GNRT +3.5%) and Pangea Logistics Solutions (PANL +14.2%).
- Previously: Shipping stocks race higher again on sector-wide volatility (Nov. 16)
Thu, Nov. 17, 9:20 AM
- Gainers: RLOG +121%. SINO +99%. GSL +94%. DCIX +32%. NMM +32%. ESEA +24%. TOPS +22%. WNR +22%. NM +22%. NAO +19%. SB +18%. ANW +17%. PANL +16%. SHIP +12%. NTAP +12%. HAIN +11%. GLBS +11%. UAM +11%. GURE +10%. PLCE +8%. NNA 8%. BBY 8%. INCY 6%. RCON 6%. PLUG 6%. GNK 6%. ENDP 6%.
- Losers: LEI -26%. VUZI -18%. SPP -18%. NVTA -14%. FSLR -12%. ZX -10%. TEGP -10%. SSI -9%. STEM -8%. FOXF -8%. TTMI -7%. PFGC -6%.
Wed, Nov. 16, 5:36 PM
Wed, Nov. 16, 12:27 PM
- DryShips (NASDAQ:DRYS) remains halted after soaring 1,500% since the Nov. 8 election and soaring another 40%-plus in the premarket; meanwhile, other shipping stocks continue to race higher, with some halted during the day.
- Until last week's Trump election victory, it had been a dismal year for dry bulk shippers, with weak Chinese demand for commodities punishing the industry to the point that companies were forced to idle ships and several operators filed for bankruptcy protection; DRYS shares had sunk 98% YTD by the close on election day.
- A popular view is that DRYS’ surge is the work of a short squeeze, but Ihor Dusaniwsky, head of research at S3 Partners, says that with only ~1M shares outstanding, there are not enough to go around for short sellers to borrow; he says the rally is as simple as sudden, huge demand running into limited supply.
- Wells Fargo's Michael Webber cautions that the huge rally in dry bulk and container stocks may not last must longer, as no fundamental move has supported the degree of gains.
- Related tickers: GLBS +179%, DCIX +164%, SINO +92%, ESEA +44%, SHIP +44%, GNK +28%, SB +23%, NMM +13%, EGLE +11%, GOGL +8%, DSX +7%, SALT +2%.
Wed, Nov. 16, 9:17 AM
- Gainers: GLBS +58%. SINO +45%. GSL +39%. DCIX +39%. STEM +30%. ESEA +22%. SHIP +20%. NM +19%. DAC +19%. ORIG +19%. LEI +18%. TOPS +16%. NMM +18%. SB +15%. SBLK +11%. DSX +9%. JKS +9%. GNK +9%. YRD +7%. TGT +8%. GOGL 8%. EGLE 6%. SAEX 7%. RPRX 7%. NNA 7%. HTBX 7%. NAK 6%.
- Losers: PDLI -15%. LNTH -11%. FLXN -9%. AQMS -7%. VSAT -6%. SID -5%.
Tue, Nov. 15, 10:08 AM
- Shipping stocks were already tracking higher after the U.S. election before the news last night that Korea Line Corp. nabbed Hanjin assets out of bankruptcy completely unmoored the sector.
- Most of the gainers are dry bulk carriers, not tankers. The list of rapid movers includes Seanergy Maritime Holdings (SHIP +92.7%), Diana Shipping (DSX +9.8%), Navios Maritime Holdings (NM +7.8%), Navious Maritime Partners (NMM +11.4%), Globla Ship Lease (GSL +14.4%), Eagle Bulk Shipping (EGLE +8.5%), Star Bulk Carriers (SBLK +5.1%), Safe Bulkers (SB +8.9%), Top Ships (TOPS +67.1%), Euroseas (ESEA +76.7%), Paragon Shipping (PRGNF +14.1%), Globus Maritime Limited (GLBS +68.9%), Diana Containerships (DCIX +24.5%), Rand Logistics (RLOG +8.8%).
- Previously: Shipping stocks skyrocket after Korea Line Corp. wins Hanjin assets (Nov. 15)
Tue, Nov. 15, 9:17 AM
Mon, Nov. 14, 8:00 AM
Sun, Nov. 13, 5:30 PM
Thu, Aug. 11, 7:44 AM
Wed, Aug. 10, 5:30 PM
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
Thu, May 12, 8:01 AM
- Navios Maritime (NYSE:NMM): Q1 EPS of $0.00 misses by $0.09.
- Revenue of $45.6M (-19.7% Y/Y) misses by $7.87M.
Wed, May 11, 5:30 PM
Mon, Mar. 14, 11:12 AM
- Shipping rates are at an 11-year low, according to a reading of the World Container Index.
- The WCI Index is down 62% over the last 52 weeks.
- Oversupply continues to plague the sector. Last year, demand grew 1% to fall well-short of the 8% increase in capacity.
- Related tickers: DRYS, SBLK, SALT, DSX, PRGN, EGLE, NM, NMM, SB, SINO, SHIP, FREE.