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Excel Maritime Carriers Ltd. (EXM)

- NYSE
EXM is defunct.
  • Aug. 19, 2014, 10:01 AM
    • Star Bulk Carriers (SBLK +5.2%) agrees to acquire 34 drybulk vessels from Excel Maritime Carriers (NYSE:EXM) for ~29.9M shares and ~$288M in cash for total consideration of $634.9M.
    • The sale consists of six Capesize vessels, 14 sistership Kamsarmax vessels, 12 Panamax vessels and two Handymax vessels mainly built at shipyards in Japan.
    • The vessels will be acquired in a series of closings which SBLK expects to complete by the end of 2014.
    • After the deal, SBLK will have 103 vessels in its fleet, with an aggregate cargo-carrying capacity of ~11.85M deadweight tons.
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  • Jul. 2, 2013, 7:21 AM
    Excel Maritime (EXM) files for bankruptcy after the company extended a deadline tied to setting up a reorganization plan with lenders. In its filing, the shipping concern notes that lenders are entitled to receive most of the value of the reorganized company.
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  • Jun. 11, 2013, 3:56 PM
    Excel Maritime (EXM) is hardly the only dry bulk stock with problems, Wells Fargo says, seeing "substantial" long-term Chapter 11 or refinancing risk at Genco (GNK -2.8%), DryShips (DRYS -2.4%) and Eagle Bulk Shipping (EGLE -3.3%). The firm thinks it's too early for a sustainable recovery in the dry bulk market, with balance sheet risk a more likely near-term result than any fundamental recovery. (earlier)
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  • Jun. 11, 2013, 10:08 AM
    The NYSE says it will seek to delist Excel Maritime Carriers (EXM) after the company announced a bankruptcy. Trading in the stock has been suspended.
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  • Jun. 11, 2013, 7:10 AM
    Excel Maritime (EXM) announces a pre-packaged bankruptcy. A capital infusion by Gabriel Panaotides will be combined with the release of $30M of currently restricted cash. Additionally, the company's senior lenders agree to extend the maturity of their credit line through 2018. (PR)
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  • Apr. 19, 2013, 2:02 PM
    Struggling shipping company Excel Maritime Carriers (EXM -47.2%) is nearing a restructuring deal with its lenders but could still file for Chapter 11 in the U.S., WSJ reports. EXM responds that its policy is not to comment on market rumors or press reports.
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  • Mar. 28, 2013, 9:10 AM
    Premarket gainers: RPRX +75%. CTIC +14%. ONCY +8%. EXM +7%. DECK +6%. XONE +6%.
    Losers: TWO -8%. FIVE -7%. GME -5%.
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  • Mar. 27, 2013, 8:47 AM
    The skittish dry bulk shipping sector could take a turn higher today with Jim Cramer backing the sector for a recovery. Though Cramer might be on board, other analysts have warned bankruptcy risk is still in play as oversupply issues get worked out in the industry. On watch: EGLE, DRYS, EXM, GNK, SB, ESEA, PRGN, NEWL, FREE.
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  • Mar. 21, 2013, 10:49 AM
    Shipping stocks are on fire as the sector keeps up its volatile ways. A reading on China manufacturing that came in above expectations is helping to tip sentiment on the outlook for dry bulk shipping. Advancers: EGLE +12.4%, PRGN +5.1%, NEWL +7.4%, DRYS +2.7%, GNK +11.1%, EXM +16.3%, SHIP +6.6%.
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  • Mar. 7, 2013, 8:02 AM
    The broad shipping sector could see another round of volatility after DryShips (DRYS) misses on both its top and bottom lines with its Q4 report and issues a troubling outlook for the market. "We continue to be bearish about the short-term performance of the shipping markets." DRYS -5.5% premarekt. On watch: PRGN, ESEA, FREE, EGLE, SBLK, NM, CPLP], DSX, GNK, EXM
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  • Jan. 7, 2013, 12:37 PM
    Shipping stocks catch a wave with word out that shipping tycoon John Fredriksen might be looking to expand with a new order for vessels. The development gives some hope up that the Baltic Dry Index, up 1% YTD, bottomed out in December and will start the march back to 1,000. Daily advancers: FREE +26.4%, ESEA +4.9%, NEWL +12.7%, SB +1.4%, GNK +1.9%, EGLE +2.6%, SHIP +7.4%, EXM +10.6%, PRGN +15.3%.
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  • Jan. 4, 2013, 11:05 AM
    Shipping firms trade higher in frenzied action tied to a strong outlook for shipping rates in 2013. Despite the rush, many analysts warn the sector is a place for investors to look to "rent" stocks instead of buy and hold. Advancers: EGLE +40.5%, EXM +26.5%, DRYS +12.2%, PRGN +7.8%, ESEA +7.5%, DSX +6.1%, GNK +8.1%.
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  • Dec. 20, 2012, 6:45 PM
    The worst commodity shipping market in 26 years may persist next year as an oversupply of vessels continues to curb ship owners’ ability to boost charter rates, according to shipbroker Clarkson. Dry bulk shipping rates have plunged 71% since Nov. 28, with both capesize and panamax shipping rates declining for 16 straight days. Baltic Dry index -58.5% YTD.
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  • Oct. 19, 2012, 9:12 AM
    Shipping stocks could see volatility after Deutsche Bank clips its rating on Genco Shipping. If history is any guide, when one sector name sneezes the rest catch a cold. On watch: DRYS, PRGN, EXM, FRO, OSG, NAT, OSK, TNK, TNP.
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  • Oct. 12, 2012, 8:48 AM
    Shipping stocks continue to suffer as forecasts for shipments of coal and iron ore are revised lower with China and Europe showing demand below expectations. After making an impressive run in Q1, the Guggenheim Shipping ETF (SEA) is now off over 15% for the following two quarters. Despite the malaise, analysts see some light at the end of the tunnel for 2013 as lower capacity helps support pricing in the sector.
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  • Sep. 19, 2012, 10:14 AM
    Shipping stocks (GNK +4.6%) soar as news out of China on steel and iron prices has traders making bets on select names. Advancers: DRYS +6.8%, PRGN +10.4%, EXM +12.8%, GNK +6.5%, FRO +3.1%, OSG +3.6%.
    | 4 Comments
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Company Description
We, Excel Maritime Carriers Ltd., were incorporated under the laws of the Republic of Liberia on November 2, 1988 and we are a provider of worldwide sea borne transportation services for dry bulk cargo including among others, iron ore, coal and grain, collectively referred to as "major bulks,"... More
Sector: Services
Industry: Shipping
Country: United States