Guggenheim Shipping ETF (SEA) - NYSEARCA
  • Thu, Mar. 17, 7:02 AM
    • SeaWorld Entertainment (NYSEARCA:SEA) announces it plans to stop breeding orcas across its theme parks. The change will be phased in over the next few years.
    • The company says it will use orca encounters in an education push and has started a new partnership with the Humane Society.
    | Thu, Mar. 17, 7:02 AM | 1 Comment
  • 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. 17, 2015, 1:38 PM | 5 Comments
  • Oct. 6, 2015, 1:34 PM
    • Shipping stocks are putting in some gains with dry bulk and gas/oil transportation companies participating in the rally.
    • 28 out of the 35 stocks listed in the broad shipping category are higher. The catch-all Guggenheim Shipping ETF (NYSEARCA:SEA) is up 1.0%.
    • Brisk stock market gains in Asia this week have helped sentiment, while a spike in crude oil prices won't go unnoticed. The bigger issue for the long-term will be the delicate balance between shipping/tankers supply and demand.
    • Leading sector movers are Navios Maritime Partners (NMM +6.2%), Dorian (LPG +4.8%), Teekay (TK +4.2%), Navigator Holdings (NVGS +4.5%), Diana Shipping (DSX +3.2%), and GasLog Partners (GLOP +4.8%).
    | Oct. 6, 2015, 1:34 PM | 16 Comments
  • Jul. 21, 2015, 11:00 AM
    • The Baltic Dry Index rose 4.3% to 1,113 with gains registering for capesize, panamax, and supramax rates.
    • The BDI has doubled since February when a weak market prompted some companies to scrap ships. Shipping rates are still well-below the level from late 2013 to late 2014.
    • The Guggenheim Shipping ETF (SEA +1.3%) tracks the Delta Global Shipping Index which correlates only loosely with the BDI.
    • Related stocks: DRYS, DSX, FREE, EGLE, NM, NMM, SBLK, BALT, SHIP, GSL, PRGN, GOGL.
    | Jul. 21, 2015, 11:00 AM | 21 Comments
  • Jul. 10, 2015, 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.
    | Jul. 10, 2015, 10:33 AM | 12 Comments
  • May 9, 2015, 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.
    | May 9, 2015, 11:27 AM | 43 Comments
  • Dec. 26, 2013, 10:42 AM
    • Dry bulkers are climbing higher on the day, extending a multi-day run in most names.
    • FREE +10.3%, DRYS +7.3%, SBLK +2.9%, EGLE +7.6%, SHIP +13.5%, BALT +1.9%, DCIX +2%, DSX +2.1%, GNK +7.7%, SB +4.4%, PRGN +2%, SINO +5.6%, VLCCF +2.1%
    • ETF: SEA +0.9%
    | Dec. 26, 2013, 10:42 AM | 5 Comments
  • Nov. 29, 2013, 8:49 AM
    • Shipping stocks are setting up for another day of huge gains on news companies in Japan may increase their orders significantly.
    • Premarket advancers: Dry Ships (DRYS+8.5%, Frontline (FRO)  +16.6%, Nordic American Tanker (NAT+5.5%.
    • Also, keep an eye on the Guggenheim Shipping ETF (SEA).
    | Nov. 29, 2013, 8:49 AM | 1 Comment
  • Oct. 21, 2013, 2:42 PM
    • Deutsche's Justin Yagerman looks to have made a prescient call (even if he was a bit early) back on September 13, when the analyst said capesize rates may have hit a "near-to-medium term peak."
    • Although rates rose to over $42,211/day by the end of last month, the trend has reversed course, with rates now sitting closer to $28K (or, some $10K less than when Wells Fargo's Michael Webber warned on the sector on September 30). The Dry Bulk Index is down to 1,878 from just over 2,000 when Webber made the call.
    • Laggards today: GNK -10%, DRYS -10%, EGLE -8%, DSX -1%, SBLK -6%, BALT -0.95%, PRGN -4.8%, SB -3.8%
    • ETF- SEA -0.3%
    | Oct. 21, 2013, 2:42 PM
  • Sep. 30, 2013, 10:24 AM
    • Dry bulk shippers are smacked following a sharp decline in capesize shipping rates for a third consecutive day.
    • Overnight, capesize rates fell 4.2% (or $1,598/day) to $36,425/day and have dropped 14% (or $5,786/day) in the last three days; panamax rates fell 0.3% (or $48) to $14,388/day, while supramax rates rose 0.9% (or $100) to $11,279/day.
    • The Dry Bulk Index fell 2.1% (or 43 points) to 2,003 overnight, but has doubled since Aug. 12, led by capesize rates which have climbed 245%, largely driven by higher iron ore shipments to China out of Brazil and Australia (Briefing.com).
    • Earlier: Wells Fargo cautious on recent dry bulk rally.
    • FREE -7.2%, DRYS -5.5%, SBLK -4.8%, EGLE -4.3%, SHIP -3.8%, BALT -3.1%, DCIX -2.6%, DSX -2.7%, GNK -2.6%, SB -2%, PRGN -1.2%, SINO -0.8%, VLCCF -0.5%, KEX -0.1%.
    • ETF: SEA.
    | Sep. 30, 2013, 10:24 AM
  • Sep. 30, 2013, 9:12 AM
    • Wells Fargo becomes the latest firm to call a near-term top in the Capesize-fueled dry bulk rally. (See Deutsche)
    • "After rising ~290% since 8/19 to $42,211/day, Capesize spot rates have declined ~10% to $38,023/day since Wednesday," analyst Michael Webber notes, adding that "despite the modest pull back ... rates remain ~235% above their Q2 average [and] 35% above Q4 forward agreements, which are off ~11% since Wednesday, while 2014/2015 FFAs are ~50-60% below spot rates."
    • Diana Shipping (DSX), Eagle Bulk Shipping (EGLE), and Genco Shipping (GNK) are all maintained at Underperform.
    • Other names in the sector: FREE, SINO, DRYS, BALT, PRGN, ULTR, NM, SB, SFL, NMM, SBLK
    • ETF - SEA
    | Sep. 30, 2013, 9:12 AM
  • Sep. 25, 2013, 10:44 AM
    • Dry bulk shipping rates are rising again: Overnight, capesize rates rose 5.2% (or $2,206/day) to $42,211/day, panamax rates rose 8.9% (or $1,144) to $13,989/day, and supramax rates rose 2.6% to $10,579/day.
    • Since Aug. 12, capesize rates are up 300%, largely driven by higher iron ore shipments to China out of Brazil and Australia, while panamax rates are up 87%, largely driven by coal activity and anticipation of a good amount of shipments from a bountiful U.S. harvest (Briefing.com).
    • EGLE +6.2%, FREE +5.6%, SINO +5.1%, VLCCF +4.5%, DRYS +4.2%, BALT +4%, PRGN +3.4%, DSX +1.6%, ULTR +1.2%, NM +1%, SB +0.9%, SFL +0.7%, NMM +0.5%, KEX +0.3%, DCIX +0.3%, SBLK +0.3%, GNK +0.2%.
    • However, Seanergy (SHIP) -15.3% after reporting earnings this morning and reigniting concerns about its ability to stay in business.
    • ETF: SEA.
    | Sep. 25, 2013, 10:44 AM | 6 Comments
  • Sep. 19, 2013, 11:04 AM
    • The seemingly perpetual ascent of shipping rates continues, with capesize rates hitting $36,388, the highest level since at least November of 2010.
    • The usual suspects are all markedly higher: GNK +1.5%, EGLE +12.2%, DRYS +9.1%, SBLK +1.3%, DSX +4%, BALT +3%, SB +1.8%, NM +1.2%, FREE +23%
    • ETF - SEA +0.3%
    | Sep. 19, 2013, 11:04 AM | 3 Comments
  • Sep. 13, 2013, 1:51 PM
    • After rallying hard on the back of surging capesize rates, red-hot dry bulkers take a breather.
    • Perhaps weighing on sentiment is Deutsche's Justin Yagerman, who says shipping rates may be at a "near-to-medium term peak [as] the recent Cape-led rate rally may only be temporary."
    • Yagerman does expect the market to continue "to recover over the next several years."
    • Diana Shipping (DSX -3.3%) catches a downgrade to Hold (price target is $12).
    • ETF - SEA -0.4%
    • GNK -3.8% EGLE -1.3% DRYS -1% SB -3.8% SBLK -3.6% BALT -1.5%
    | Sep. 13, 2013, 1:51 PM | 10 Comments
  • Sep. 9, 2013, 12:09 PM
    • It's onward and upward for dry bulk names again today, as The Baltic Dry Index posts its largest gain since 2009, rising 9.3% to 1,478. (daily quotes here)
    • The driver: An 8.1% expansion in Chinese iron ore imports. "Steel production in China is defying a seasonal slowdown in prices, allowing mills to absorb high iron ore imports," a Morgan Stanley analyst quoted by Bloomberg says.
    • After rising 10% overnight Friday, daily capesize earnings jump 17% to $25,426, the highest since December of 2011.
    • GNK +16%, EGLE +1.8%, DRYS +8.6%, SBLK +9.5%, DSX +1.3%, BALT +5.5%, SB +2.1%, NM +2.3%, FREE +28%, SHIP +11%.
    • ETF- SEA +1.4%
    • More from SA contributor MTF Investing here
    | Sep. 9, 2013, 12:09 PM | 3 Comments
  • Aug. 20, 2013, 8:06 AM
    • The 2004-2008 dry bulk super-cycle isn't coming back, says Credit Suisse, but good money can and will be made in dry bulk shipping. The BDI peaked at 11,793 in May 2008, 10x above today's level. Asset prices have come down alongside though, with newbuild ships off 50% and 2nd-hand 75%, meaning charter rates don't need to be nearly as high for a new owner to bank coin.
    • Iron ore volumes are key and there's plenty of iron ore supply coming online, but what about demand (China)? While the team has doubts Chinese demand can grow fast enough, it does note the country's mines produced 353 metric tons of ore last year - China's a high cost producer though and these mines will be the first to shut down on low ore prices. This means higher imports and greater shipping volumes - a difference-maker going forward.
    • Diana Shipping (DSX) is upped to a Hold with price target bumped to $10 from $8. Safe Bulkers (SB) is maintained a Buy with price target increased to $7 from $5. Genco Shipping (GNK) is maintained a Sell thanks to its high level of debt.
    • Related ETF: The Guggenheim Shipping ETF (SEA).
    | Aug. 20, 2013, 8:06 AM | 1 Comment
SEA Description
The Guggenheim Shipping ETF* (NYSE:SEA), seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called Dow Jones Global Shipping IndexSM. The Index measures the stock performance of high dividend-paying companies in the global shipping industry. The index universe is defined as all equity securities in the Dow Jones indexes database that are involved in the shipping industry globally that primarily transport goods and materials. Companies solely involved in shipping passengers are excluded from the Index. Stocks also must pass liquidity screens to be considered for the Index. The Index is weighted by float-adjusted market capitalization. The weights of individual components are capped at 20%.
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Sector: Services
Country: United States
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