Fri, May 15, 2:59 PM
- Rates for the world’s biggest oil tankers surged to the highest since January as shipments accelerated from Saudi Arabia and Iraq, Bloomberg reports.
- Ships hauling 2M-barrel cargoes of Saudi crude to Japan, a benchmark route, earned ~$81.5K/day, a 13% gain from Thursday and the highest for the time of year since at least 2009.
- Tanker rates rose on 15 out of 16 routes tracked by the Baltic Exchange, led by advances in prices from the Persian Gulf.
- Relevant tickers: FRO, TK, TNK, TOO, TGP, TNP, GLNG, NAT, DHT
Sat, May 9, 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.
Tue, May 5, 12:46 PM
Tue, May 5, 9:17 AM
Tue, May 5, 8:50 AM
- Golar LNG (NASDAQ:GLNG) +20.5% premarket after Ophir Energy selected it as midstream partner for the Fortuna FLNG project in Equatorial Guinea.
- The agreement which will see a floating liquefied natural gas vessel supplied by GLNG for Ophir's Fortuna development on Block R, where GLNG says the 2.5T cf of high purity 2P gas resources are ideally suited for the application of its GoFLNG technology.
- The agreement will be structured as a 20-year tolling contract, starting commercial operations in H1 2019.
- GLNG also says it is starting negotiations with partners Keppel and Black & Veatch for the ordering of a third GoFLNG unit.
Thu, Mar. 5, 12:24 PM
- Golar LNG (GLNG +10.8%) shoots higher on heavy volume after signing a preliminary agreement with Russia's Rosneft (OTC:RNFTF) to develop floating liquefied natural gas plants in Latin America and potentially elsewhere.
- GLNG says it aims to sign two agreements that would give Rosneft capacity from its floating gas liquefaction plants under development.
- The new concept of floating LNG production has yet to be tested, and the first such plant - owned by Pacific Rubiales (OTCPK:PEGFF) and whose output is earmarked for sale to Russia's Gazprom (OTCPK:OGZPY) - is expected to come on stream later this year.
Wed, Feb. 25, 5:45 AM
Fri, Feb. 20, 10:23 AM
- Canada's government is planning tax breaks for developers of liquefied natural gas export projects in an effort to kick-start investment amid a low energy price environment.
- The government says the changes will allow LNG companies to deduct a higher share of capital costs, and expects the move to reduce corporate tax revenue by ~C$50M over the next five years.
- British Columbia, which is counting on LNG development and shipments to stimulate future growth, had lobbied for such tax breaks, as did the LNG industry.
- Potential LNG stocks include LNG, GLNG, SRE, GTLS, TGP, GMLP, GLOG, CQP, GLOP, DLNG.
Tue, Jan. 20, 8:49 AM
- Golar LNG (NASDAQ:GLNG) says CEO Doug Arnell will step down effective Feb. 1, citing his desire to return with his family to his home country of Canada.
- Arnell will be succeeded by Gary Smith, who has worked with GLNG since May as a consultant with special emphasis on increasing the utilization of the shipping fleet, and had worked for Shell and Chevron affiliate Caltex Australia in various roles for 25 years.
Fri, Jan. 9, 12:25 PM
- Frontline (FRO +10.1%) has now jumped 63% this week amid speculation that a plunge in crude prices is spurring demand for the vessels to store cargoes.
- “The re-emergence of floating storage is what could move the crude tanker market this year from being rather good to possibly very very good," says a shipping analyst at Pareto Securities in Oslo.
- Traders may park as much as 60M barrels of oil on tankers in the coming months, according to consulting firm JBC Energy.
- Among other tanker companies: TK +1.2%, TNK +3.4%, TOO -0.3%, TGP -0.1%, TNP -0.7%, GLNG -1.9%, NAT -0.6%, DHT +3.1%.
- Earlier: Reuters: Oil glut sparks top traders to book supertankers for storage at sea
Thu, Jan. 8, 4:38 PM
- Golar LNG Partners (NASDAQ:GMLP) -4.2% AH on news it plans to sell 7.17M common units to Golar LNG (NASDAQ:GLNG), using the proceeds to fund part of the recently announced contract with Keppel Shipyard to convert one of its first generation liquefied natural gas carriers into a floating natural gas liquefaction facility.
- The proceeds will be in addition to those expected to be received over the next two years from the announced $390M sale of the Golar Eskimo to GMLP.
Thu, Jan. 8, 12:36 PM
- Some of the world's largest oil traders are hiring supertankers to store crude at sea, Reuters reports: Trading firms including Vitol and Trafigura, and energy major Shell (RDS.A, RDS.B) are said to have booked crude tankers for up to 12 months in the past week.
- Freight brokers and shipping sources consider the flurry of long-term bookings unusual and suggests that traders could use the vessels to store excess crude at sea until prices rebound, repeating a popular 2009 trading gambit when prices last crashed.
- Analysts at JBC Energy say floating storage, while a sign of an oversupplied market, may provide some temporary support for oil prices in the coming weeks.
- Related tanker companies: TK, TNK, TOO, TGP, TNP, FRO, GLNG, NAT, DHT.
Dec. 24, 2014, 10:27 AM
- Golar LNG (GLNG +5.4%) says it has signed a heads of agreement for the development of a floating liquefied natural gas export project offshore Cameroon that could lead to output from early 2017.
- GLNG will provide the liquefaction facilities and services under a tolling agreement to SNH and Perenco as owners of the upstream joint venture; GLNG expects allocated reserves will be produced at the rate of ~1.2M metric tons/year of LNG over eight years.
- The project will be the first floating LNG export project in Africa; production is expected to begin in H1 2017.
Dec. 15, 2014, 4:31 PM
- Golar LNG Partners (NASDAQ:GMLP) agrees to acquire floating storage and regasification unit Golar Eskimo from Golar LNG Ltd. (NASDAQ:GLNG) for ~$390M.
- GMLP says it will finance the deal with cash on hand, the proceeds of a $220M loan from GLNG, and the assumption of outstanding bank debt related to FSRU which is expected to total ~$162M.
- As a result of the acquisition, GMLP says it is recommending an increase in its annualized distribution of $0.11-$0.13.
Dec. 15, 2014, 7:54 AM
- The Q-50 Index houses those companies next-eligible for inclusion into the Nasdaq 100 (NASDAQ:QQQ). Amid the Nasdaq 100's annual changes which added and dropped three from the index, the Q-50's quarterly re-ranking adds and drops eleven.
- Added: Ainylam Pharma (NASDAQ:ALNY), Expedia (NASDAQ:EXPE), F5 Networks (NASDAQ:FFIV), JD.com (NASDAQ:JD), MercadoLibre (NASDAQ:MELI), Maxim Integrated (NASDAQ:MXIM), Old Dominion Freight Line (NASDAQ:ODFL), Shire (NASDAQ:SHPG), Splunk (NASDAQ:SPLK), Stratasys (NASDAQ:SSYS), United Therapeutics (NASDAQ:UTHR).
- Dropped: Avis Budget (NASDAQ:CAR), Cree (NASDAQ:CREE), First Solar (NASDAQ:FSLR), Golar LNG (NASDAQ:GLNG), Methanex (NASDAQ:MEOH), Melco Crown (NASDAQ:MPEL), Nuance (NASDAQ:NUAN), SolarCity (NASDAQ:SCTY). Also dropped are the three Nasdaq 100 additions: American Airlines, Lam Research, and Electronic Arts.
- Source: Press Release
- Previously: Who's in, who's out in annual change to Nasdaq 100 (Dec. 13, 2014)
Nov. 26, 2014, 9:51 AM
GLNG vs. ETF Alternatives
Golar LNG Ltd is a midstream LNG company engaged in the transportation, regasification and liquefaction and trading of LNG. It is engaged in the acquisition, ownership, operation and chartering of LNG carriers.
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