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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
Nov. 24, 2015, 9:05 AM
Nov. 24, 2015, 8:43 AM
Oct. 19, 2015, 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.
Aug. 26, 2015, 8:48 AM
- Ship Finance (NYSE:SFL) declares $0.44/share quarterly dividend, 2.3% increase from prior dividend of $0.43.
- Forward yield 11.81%
- Payable Sept. 30; for shareholders of record Sept. 14; ex-div Sept. 10.
Aug. 26, 2015, 8:48 AM
- Ship Finance (NYSE:SFL): Q2 EPS of $0.56 beats by $0.16.
- Revenue of $92.03M (+26.1% Y/Y) misses by $2.47M.
Jul. 21, 2015, 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
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.
May 29, 2015, 6:18 PM
- Ship Finance International (NYSE:SFL) surged 6.6% in today's trade after amending its long-term charter agreement with Frontline (NYSE:FRO), whose shares plunged 15.7%.
- FRO says the renegotiated relationship strengths its balance sheet, but the market reacted as if it was a one-sided deal in favor of SFL, which boosted its share of profits generated by the partnership, reduced its long-term base rates, and received 55M FRO shares to gain a 27.7% stake in the company.
- Otherwise, FRO reported Q1 earnings that easily beat expectations.
May 29, 2015, 8:51 AM
- Ship Finance (NYSE:SFL) declares $0.43/share quarterly dividend, 2.4% increase from prior dividend of $0.42.
- Forward yield 11.22%
- Payable June 30; for shareholders of record June 15; ex-div June 11.
May 29, 2015, 8:50 AM
- Ship Finance (NYSE:SFL): Q1 EPS of $0.35 beats by $0.06.
- Revenue of $90.01M (+8.9% Y/Y) misses by $5.98M.
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.
Apr. 27, 2015, 6:56 AM
- Ship Finance (NYSE:SFL) announces it acquired eight Capesize dry bulk carriers from Golden Ocean Group Limited for $272M.
- The company expects to take delivery of the vessels in July.
- The new charter with a subsidiary of Golden Ocean is expected to add $30M in annual EBITDA contribution.
Feb. 26, 2015, 9:05 AM
- Ship Finance (NYSE:SFL): Q4 EPS of $0.27 misses by $0.11.
- Revenue of $88.67M (+23.7% Y/Y) misses by $6.31M.
Feb. 26, 2015, 9:04 AM
- Ship Finance (NYSE:SFL) declares $0.42/share quarterly dividend, 2.4% increase from prior dividend of $0.41.
- Forward yield 10.95%
- Payable March 27; for shareholders of record March 10; ex-div March 6.
Jan. 7, 2015, 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%).
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