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NM vs. ETF Alternatives
Navios Maritime Holdings Inc is a seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. It operates in two segments; Drybulk Vessel Operations and Logistics.
Thu, Mar. 27, 11:40 AM
- Seanergy Maritime (SHIP +27.1%) shares are surging after the dry bulk shipper reported Q4 net earnings of $7.5M vs. a $117M loss in the prior-year quarter.
- SHIP says 2013 saw a significant reversal in dry bulk market conditions, as increased China imports of iron ore and the expected slowdown in vessel deliveries over the next years led to higher freight rates in Q4, and sees continued strength in 2014; time charter equivalent rose 7% in the full year to $8,006 from $7,465 in 2012.
- Other shipping names are mostly higher: GNK +9.2%, EGLE +3.2%, SBLK +2%, BALT +1.1%, SB +0.9%, NM +0.2%, DSX +0.2%, FREE -0.6%.
Thu, Mar. 20, 11:13 AM
- Drybulk shipping rates are up big during past five weeks and rose again overnight.
- The Baltic Dry Index rose 3.2% overnight and has surged 49% since Feb. 12; the BDI has gained in 24 of the last 26 sessions, led by a 211% rise in capesize rates.
- Capesize rates climbed 6.9% (or $1,664/day) overnight to $25,659/day, while panamax rates rose $4/day to $9,019/day and supramax rates added 0.4% ($48/day) to $12,598/day.
- Related drybulk equities include DRYS, GNK, PRGN, DSX, FREE, ULTR, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, SHIP, DCIX.
Thu, Mar. 6, 12:19 PM
- Star Bulk Carriers (SBLK +3.1%) and Navios Maritime (NM +4.1%) are upgraded to Buy from Hold at Stifel, which sees a cyclical recovery coming in the dry bulk market as an expected 120M tons of new seaborne iron ore trade drives 6% demand growth for the year.
- SBLK is upgraded with an $18 price target; given SBLK's large position in capesize vessels and substantial operating and financial leverage, Stifel believes the company should be ideally positioned to benefit from rate improvements.
- NM is upgraded with a $14 target; NM has 17 capesize vessels, six with charters expiring in 2014 and another six chartered in and operating in the spot market, which the firm says puts it at a distinct advantage and positions it as one of the most leveraged names to rising dry bulk rates.
Tue, Mar. 4, 11:11 AM
- Select shipping stocks are showing strength today with developments in the Ukraine just a small part of the story.
- Issues of demand and shipping rates in the industry have been in focus, while the reactions of shorts is still an underlying factor.
- Advancers: Eagle Bulk Shippers (EGLE) +9.5%, Diana Shipping (DSX) +3.5%, FreeSeas (FREE) +3.4%, Navios Maritime Holdings (NM) +3.6%, Euroseas (ESEA) +4.6%, Baltic Trading (BALT) +3.8%, Paragon Shipping (PRGN) +2.2%.
- The Baltic Dry Index is up 1.5% on the day.
Wed, Jan. 15, 10:35 AM
- Shippers are on the move after dry bulk shipping rates finally show their first gain of the year.
- The Baltic Dry Index shows a four-point increase due to gains in capesize rates, which rose $280 to $13,168/day, while panamax rates fell $54 to $12,534 and supramax rates fell $65 to $12,364/day.
- Before today's gains, the BDI had plunged 40% YTD in its worst start of the year in 30 years.
- FREE +7.4%, EGLE +7.3%, GNK +5.5%, SB +4.3%, DRYS +4.1%, NM +3.4%, SBLK +2.8%, SHIP +2.5%, ESEA +2.3%, PRGN +2.1%, DCIX +2%, GSL +1.9%, NMM +1.3%, DSX +1.3%, DAC +1.1%, KEX +0.8%, ULTR +0.3%, BALT -1%, SINO -0.8%.
Fri, Jan. 10, 9:46 AM
- Capesize dry bulk shipping rates have declined in every session so far in 2014 and were slammed overnight, tanking 27.5% (or -$6,606) to $17,452/day.
- The overall Baltic Dry Index dropped 11% to 1,512; panamax rates fell 1.5% to $12,921/day, and supramax rates rose 0.2% to $12,448/day.
- In early trade: SBLK -2.9%, DRYS -5.1%, DSX -2.5%, GNK -5%, NM -4.3%, PRGN -3.6%, NMM -1.2%, SB -5.4%, EGLE -2.3%, BALT -3.1%.
Nov. 13, 2013, 12:56 PM
- Navios South American Logistics (NM +4.2%) signs a 20-year agreement with Vale (VALE) for storing and transshipping iron ore and other commodities.
- Navios expects the deal to generate ~$35M of annual EBITDA and $1B of aggregate EBITDA over the 20-year term, assuming operating costs similar to the operating costs of the company's existing dry port terminal.
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. 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. 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. 6, 2013, 11:57 AM
- Drybulk shipping stocks continue recent sharp gains following further strength in shipping rates, as capesize shipping rates rose 10% overnight to $21,793/day, the first time since Jan. 2012 that capesize rates exceed $20K/day (Briefing.com).
- The cost of renting a capesize drybulk ship is up 107% YTD, largely driven by higher iron ore shipments to China out of Brazil and Australia.
- SHIP +16.1%, FREE +12%, EGLE +11.2%, GNK +9.5%, SINO +6.8%, DRYS +5.4%, NM +4.8%, SBLK +4.3%, DCIX +3.5%, DSX +3.5%, VLCCF +3.3%, BALT +2.8%, PRGN +2.2%, SFL +1.6%, KEX +1%.
Sep. 5, 2013, 12:23 PM
- Dry bulk names are catching a bid again today after putting in a strong session Wednesday.
- "The dry bulk market appears to be turning a corner with supply and demand finally matching up more closely following several years of heavy supply," Global Hunter said yesterday. (full note)
- Across the sector: GNK +8.7%, EGLE +8%, BALT +6.7%, DSX +2.9%, SBLK +6%, DRYS +9.2%, SB +3%, NM +4.6%
Sep. 5, 2013, 10:10 AM| Sep. 5, 2013, 10:10 AM | 3 Comments
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May. 21, 2013, 9:10 AM
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