Safe Bulkers Inc.NYSE
Serious Danger Lurks For 'Safe' Bulkers
J Mintzmyer • 103 Comments
J Mintzmyer • 103 Comments
Sun, Sep. 11, 9:29 AM
- The world's largest container shipping firm is seeing a short-term rise in freight rates and an inflow of new clients after the collapse of Hanjin Shipping (OTC:HNJSF).
- "There's no doubt that we're seeing a reaction in the rate market," said Klaus Rud Sejling, the executive in charge of Maersk Line's (OTCPK:AMKAF) east-west network. "In the short term, the effect is positive... The question is, what will happen with rates in the longer term."
- Related tickers: SHIP, EGLE, GNK, SINO, DRYS, NM, SBLK, DCIX, BALT, SFL, KEX, SB, SALT, DSX, GOGL, MATX, EURN, NNA
Fri, Sep. 9, 3:57 AM
- Korean Air Lines, the biggest shareholder in Hanjin Shipping (OTC:HNJSF), has delayed a decision on a funding plan for the troubled company for a second time, adding to the uncertainty of around $14B of cargo stranded at sea.
- With Hanjin's future in doubt, carriers have announced they will hike container freight rates by as much as 50% beginning next month as retailers scramble to secure shipping ahead of the peak year-end holiday season.
- Related tickers: SHIP, EGLE, GNK, SINO, DRYS, NM, SBLK, DCIX, BALT, SFL, KEX, SB, SALT, DSX, GOGL, MATX, EURN, NNA, UPS, FDX
- ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, FXD, RHS, FDIS, FSTA, RCD, PMR, JHMC, JHMS, CNSF, CNDF
Wed, Sep. 7, 12:03 PM
- Transportation stocks are solidly higher across select parts of the broad sector.
- Some technical traders think the sector is on a breakout pattern, while analysts are honed in on conference presentations where Q3 updates are being spilled.
- Notable gainers include Diana Shipping (DSX +8.3%), Scorpio Bulkers (SALT +7.5%), Safe Bulkers (SB +4.8%), and Panagaea Logistics Solutions (PANL +13.4%), Celadon Group (CGI +4.2%), USA Truck (USAK +3.5%), American Airlines Group (AAL +6.2%), United Continental (UAL +5.6%), Delta Air Lines (DAL +5.4%), CSX Corp (CSX +1.6%), and Roadrunner Transportation Systems (RRTS +2.1%), and Swift Transportation (SWFT +0.8%).
- The Dow Jones Transportation Index is up 1.11% vs. slight declines for broad market averages.
Fri, Jul. 29, 2:58 PM
- Safe Bulkers (SB -1.8%) is downgraded to Underperform from Neutral with a $1 price target at Credit Suisse, which foresees prolonged weakness in the drybulk market.
- "Management has done a tremendous job of working with its banks to refinance ~$470M which helps extend SB's runway, but at a certain point the market still needs to recover. That is the problem," analyst Gregory Lewis writes.
- The firm narrows its FY 2016 loss estimate for SB to $0.67/share from $0.70 to account for the Q2 earnings beat, but widens its 2017 loss estimate to $0.44 from $0.36 reflecting expectations for a weak market environment.
Thu, Jul. 28, 4:13 PM
Wed, Jul. 27, 5:35 PM
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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, Jun. 23, 7:50 AM
Thu, Jun. 2, 4:30 PM
Wed, Jun. 1, 5:35 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.
Wed, Feb. 10, 5:02 PM
- Safe Bulkers (NYSE:SB): Q4 EPS of -$0.13 misses by $0.03.
- Revenue of $29.94M (-23.3% Y/Y) misses by $6.05M.
Tue, Feb. 9, 5:35 PM
- AEL, AEM, AFFX, ANDE, APDN, BGC, BRKR, CDE, CGNX, CLW, CNO, CSCO, CSOD, CTL, CUZ, CXW, CYS, EFX, ENSG, EXPE, FLO, FMC, FNF, FORR, GHDX, GPRE, HDP, HNI, HUBS, IFF, IO, IRBT, JCOM, KGC, LGND, LOCK, LPSN, MOSY, MYL, NSIT, O, OHI, OII, ORLY, PPC, PRI, PRU, PXD, QUIK, REG, RYN, SB, SCI, SKX, TCO, TSLA, TTGT, TWTR, VNDA, WFM, ZNGA
Wed, Jan. 20, 9:45 AM
- The Baltic Dry Index is locked on its downward spiral with fresh lows being carved out every trading day of the year so far. The indices for Capesize, Panamax, Supramax, and Handysize vessels are all sharply lower.
- The sector has been rocked by the combination of excess capacity and sliding demand. By some estimates the number of vessels on the water are more than 50% higher than what's needed to pressure pricing and utilization rates.
- Drewry Maritime Equtiy Research thinks it could take as long as 18 months for the dry bulk market to normalize.
- "It’s a bloodbath which calls into question the survival of many dry-bulk shipping companies," notes shipping adviser Basil Karatzas.
- Related stocks: DRYS, SBLK, SALT, DSX, PRGN, NMM, NM, EGLE, SB, SINO, SHIP, FREE.
Dec. 17, 2015, 1:38 PM
- The Guggenheim Shipping ETF (NYSEARCA:SEA) is down 7.3% on a brutal day for shippers and tankers.
- The sector has been rattled by dividend and distribution cuts at Teekay as a result of the weakening global energy market.
- Dry bulk shippers are also weaker on the day with some key executive issuing cautious comments.
- Notable decliners include Scorpio Tankers (STNG -5.1%), Diana Shipping (DSX -4.8%), Euronav (EURN -3.8%), Seaspan (SSW -4.7%), Eagle Bulk Shipping (EGLE -1.8%), Safe Bulkers (SB -3.3%), and Scorpio Bulkers (SALT -2.7%).
- Previously: Teekay LNG Partners whacks dividend by 80% (Dec. 17)
Dec. 7, 2015, 2:24 AM
- Shippers are protesting a new marine shipping safety rule they say will raise transport costs and cause delays at ports worldwide.
- The regulation, which kicks in next July in 171 countries, requires exporters to certify the weight of containers before they're loaded for transport.
- Carriers say accurate weights are needed because heavy containers frequently damage cargo and even cause vessels to capsize, but shippers in many countries say they are ill-equipped to weigh so many containers.
- Related tickers: SHIP, FREE, EGLE, GNK, SINO, DRYS, NM, SBLK, DCIX, BALT, PRGN, SFL, KEX, SB, SALT, DSX, GOGL, MATX, EURN, NNA