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Star Bulk Announces Date for the Release of Second Quarter 2014 Results, Conference Call and WebcastMarketwire (Aug 4, 2014)
Marketwire (Jul 24, 2014)
Marketwire (Jul 11, 2014)
Marketwire (Jul 11, 2014)
Marketwire (Jun 16, 2014)
Marketwire (Jun 16, 2014)
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at MarketWatch.com (Jul 19, 2011)
Today, 9:03 AM| Comment!
Yesterday, 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.
Mon, Aug. 18, 10:32 AM
- Drybulk shipping rates continue to move higher, adding to last week's run as iron ore shipments out of Brazil and Australia pick up.
- On Friday, drybulk rates as measured by the Baltic Dry Index rose 7.7%, capping a 31% gain for the week driven by strength across the board but mainly in Capesize and Panamax rates.
- After beginning its ascent on July 23, the BDI has jumped 40%, rising in every session except one.
- Last week, Capesize rates surged 65% to $15,561/day, Panamax rates climbed 29% to $6,397/day, and Supramax rates added 9% to $9,170/day.
- Related drybulk stocks include: DRYS +2%, PRGN +4.1%, DSX +1%, FREE +8.2%, EGLE -2%, NM +2.5%, NMM +0.7%, SBLK +1.1%, SB +1.7%, BALT +2.5%, SHIP -2.1%, DCIX +2.2%.
Thu, Aug. 14, 10:53 AM
- Drybulk shipping rates, as measured by the Baltic Dry Index, surged 8.2% overnight, driven by strength across the board but mainly in capesize and panamax rates.
- Capesize rates jumped 15.7% to $13,677/day, Panamax rates climbed 9.7% to $5,883/day, and Supramax rates rose 1.9% to $9,004/day.
- Related drybulk stocks include: DRYS +2.6%, PRGN +5.8%, DSX +3.9%, FREE +7.9%, EGLE +2.2%, NM +5.6%, NMM +1%, SBLK +6.2%, SB +5.7%, BALT +3.8%, SHIP +0.7%, DCIX flat.
Mon, Jun. 16, 9:12 AM
Mon, Jun. 16, 8:14 AM
- Star Bulk Carriers (SBLK) agrees to merge with Oceanbulk to create the largest publicly-listed dry bulk company in the U.S.
- Under the terms of the proposed transaction, Oaktree Investors will own 61.3% of Star Bulk and the Pappas Investors will hold 12.5%.
- The combined company will own 69 vessels, including 33 Capesize and Newcastlemax vessels.
- Large SBLK shareholder Monarch has agreed to vote in favor of the deal.
Mon, Jun. 16, 8:05 AM
Thu, May. 29, 8:41 AM
Wed, May. 28, 5:30 PM
Mon, Apr. 21, 12:23 PM
- Genco Shipping (GNK) has filed for bankruptcy, Bloomberg reports, as weakness in charter rates for its dry-bulk cargo ships made it difficult for the company to pay its creditors; shares have been halted since the open.
- GNK reportedly listed assets of $2.4B and debt of $1.5B in a Chapter 11 filing.
- Other shippers on the radar: DRYS, PRGN, DSX, FREE, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, ESEA, DCIX, TEU, DAC, SHIP, SSW, GSL.
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.
Thu, Jan. 23, 9:41 AM
- Shipping rates fell again overnight, and the Baltic Dry Index is now -44% YTD.
- Overnight, capesize shipping rates declined 19.6% (or -$1,4620 to $11,128/day), panamax rates slipped 4% (or -$219) to $11,710/day, while supramax rates fell 1.8% (or -$94) to $11,721/day.
- YTD, capesize rates -71.5%, panamax rates -20%, supramax rates -23%.
- On watch: DRYS, GNK, PRGN, DSX, FREE, ULTR, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, ESEA, DCIX, TEU, DAC, SHIP, SSW, GSL.
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%.
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