Ultrapetrol (Bahamas) LimitedNASDAQ
Tue, Oct. 18, 4:40 PM
- Ultrapetrol (NASDAQ:ULTR) plunged 66% in today's trade after Nasdaq said it is suspending trading of the company's stock, effective at the market's open tomorrow, after denying its appeal for continued listing.
- ULTR says it may be eligible to be quoted as an OTC security, but a market maker has not yet stepped forward as a sponsor.
Thu, Oct. 13, 9:10 AM
- Ultrapetrol (NASDAQ:ULTR) names Chairman Eduardo Ojea Quintana to serve as its new CEO, as Damián Scokin will resign from the CEO position, effective Nov. 1.
- Quintana has been a ULTR director since 2012 and Chairman since 2015; he had served as President of Transportadora de Gas del Norte and a board member of several other energy companies in South America.
- Scokin, who will join ULTR's board, became CEO in 2014 after spending nine years in executive roles at LATAM Airlines and 11 years at McKinsey.
Thu, Aug. 25, 4:17 PM
Thu, May 12, 5:04 PM
- Ultrapetrol (NASDAQ:ULTR): Q1 EPS of -$0.13
- Revenue of $67.1M (-20.7% Y/Y)
Mon, May 2, 5:01 PM
- Ultrapetrol (NASDAQ:ULTR) shares nearly doubled today after announcing this morning that it was continuing talks with its secured lenders to extend their existing forbearance agreements through the end of this month.
- The forebearance agreements expired April 30, but ULTR says it remains confident it can negotiate a consensual financial restructuring pact, adding it has "sufficient liquidity" to fully fund all aspects of its operations as usual.
- ULTR also says it will continue to make full and timely payments to employees, vendors, suppliers and trading counterparties.
Thu, Apr. 28, 1:59 PM
- Paragon Shipping (PRGN +562.7%) says it has delayed delivery of three bulk carrier newbuildings and says it does not have sufficient liquidity to make the upcoming interest payments due on some senior notes, but it definitely has not filed for bankruptcy, and that seems to be sending shares skyward today.
- PRGN says it has filed a defamation lawsuit with the Criminal Court of Athens against shipping paper TradeWinds, which reported in February that it had obtained board approval for filing for bankruptcy under Chapter 11.
- The action in PRGN has sparked interest in the broader dry bulk shipping sector, giving other names a major boost: SINO +95%, DRYS +50%, GNK +47%, EGLE +42%, ULTR +36%, SHIP +26%, SBLK +20%, DSX +14%, DCIX +14%, GOGL +10%, SALT +8%.
Mon, Apr. 18, 5:34 PM
- Ultrapetrol (NASDAQ:ULTR): Q4 EPS of -$0.19
- Revenue of $71.1M (-9.5% Y/Y)
Tue, Apr. 5, 9:16 AM
- Ultrapetrol (NASDAQ:ULTR) reaches agreement with its secured lenders to extend its existing forbearance agreements through April 30.
- The secured lenders agree not to accelerate their loans or take any enforcement actions regarding defaults from non-payment of interest and to work with the company in negotiating a sustainable financial structure.
- ULTR says it has sufficient liquidity to fully fund all operations and conduct business as usual during the period.
Fri, Feb. 12, 4:30 PM
- Ultrapetrol (NASDAQ:ULTR) says it received notice from the Nasdaq Stock Exchange that it is not in compliance with the continued listing standard requiring a minimum market value of publicly held shares of $5M for the preceding 30 consecutive business days.
- ULTR says it intends to regain compliance within the prescribed six-month timeframe and will consider a range of available options to ensure compliance.
Dec. 15, 2015, 3:06 PM
- Ultrapetrol (ULTR -0.3%) says it will not pay $16.5M due today in interest on various loan agreements while it renegotiates with its lenders.
- ULTR says it is in discussions with lenders to its UP Offshore subsidiary to refinance its outstanding loan facilities, and it hopes to extend the loans’ near-term maturities and amortization schedules; it also wants to restructure certain debt securities with creditors of its river business, and says discussions are ongoing.
- ULTR says "there is ample value in [its] assets and contracted cash flow to provide an agreeable outcome for all stakeholders."
Nov. 11, 2015, 4:17 PM
- Ultrapetrol (NASDAQ:ULTR): Q3 EPS of -$0.10 misses by $0.11.
- Revenue of $95.7M (-3.7% Y/Y) misses by $4.11M.
Sep. 21, 2015, 10:52 AM
- Petrobras (PBR +0.6%) cancels five platform supply vessels from two separate contractors, as the rout in oil prices and rising borrowing costs force further spending cuts.
- Ultrapetrol (ULTR -1.6%) had three vessel contracts terminated ahead of schedule and World Wide Supply had two contracts canceled, according to separate statements from the two companies.
- ULTR says it plans to negotiate with PBR as well as seek work for the ships in other markets; it says it still has six supply ships under contract with PBR and plans to compete in upcoming tenders for subsea support vessels.
Aug. 12, 2015, 4:21 PM
- Ultrapetrol (NASDAQ:ULTR): Q2 EPS of -$0.05 misses by $0.04.
- Revenue of $96.1M (+43.1% Y/Y) beats by $9.52M.
May 14, 2015, 4:18 PM
- Ultrapetrol (NASDAQ:ULTR): Q1 EPS of -$0.03 beats by $0.03.
- Revenue of $61.34M (+7.0% Y/Y) misses by $13.95M.
- Shares -3.67%.
Apr. 16, 2015, 5:01 PM
- Ultrapetrol (NASDAQ:ULTR): Q4 EPS of -$0.18 misses by $0.15.
- Revenue of $78.6M (-20.6% Y/Y) beats by $9.59M.
Mar. 26, 2015, 4:59 PM
- Ultrapetrol (NASDAQ:ULTR) says it renewed a contract with Petrobras which expired this month to employ the UP Turquoise for an additional four years at $30K/day, consistent with its previous contract.
- ULTR also confirms that the UP Opal has commenced its employment on a four-year contract with PBR at a dayrate of $31K, and expects the UP Coral to begin a six-year contract with PBR in mid-2015 as an ROV support vessel earning $87K/day.
- ULTR also expects to report adjusted EBITDA of $57M-$59M for FY 2014, after Q4 results were hurt by developments related to lower than expected North Sea spot rates and off-hire resulting from a now-resolved mechanical issue with a container feeder vessel.