Eagle Bulk Shipping Inc

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  • uploads///China steel production
    Macroeconomic Analysis

    China’s Crude Steel Production Fell in May: Outlook Is Negative

    According to data released on May 22, world steel production fell by 2.1% YoY in May. China’s steel production also fell by 1.6% YoY on a YTD basis.

    By Anuradha Garg
  • uploads///China PMI
    Macroeconomic Analysis

    China’s Manufacturing PMI Is the Lowest in 1 Year

    China’s HSBC manufacturing PMI fell to 48.9 in April. This is the lowest level since April 2014. A reading below 50 indicates contraction.

    By Anuradha Garg
  • uploads///China iron ore inventory
    Macroeconomic Analysis

    Declining Iron Ore Port Inventory: Could It Be Positive?

    Chinese ports’ iron ore inventory levels can impact purchasing decisions. Iron ore is the largest category of product shipment within the dry bulk shipping industry.

    By Anuradha Garg
  • uploads///Dry bulk orderbook
    Macroeconomic Analysis

    Falling Dry Bulk Orderbook: Positive for Dry Bulk Shippers

    If the orderbook level continues to fall more from this point and demand continues to grow, we could see some life in dry bulk shipping rates and equities.

    By Anuradha Garg
  • uploads///Old vessel prices
    Macroeconomic Analysis

    Secondhand Vessel Prices Continue to Fall

    Secondhand vessels are delivered faster than newbuilds. As a result, secondhand vessels represent more of the short to medium-term outlook.

    By Anuradha Garg
  • uploads///Article
    Macroeconomic Analysis

    How China’s slow real estate markets hurt the shipping industry

    Accounting for almost 20% of gross domestic product (or GDP), China’s real estate sector plays a major role in the country’s economic activity.

    By Katie Dale
  • uploads///Article
    Industrials

    Star Bulk comments on coal and grain

    Star Bulk believes the recent coal import restrictions were minimal, while the freight rate agreement signing between Australia and China can be a positive development.

    By Katie Dale
  • uploads///Article
    Industrials

    Dry bulk trade demands Star Bulk dynamics

    Star Bulk management stated that commodity demand remains healthy, while substantial supply expansion has resulted in surpluses across various commodity markets.

    By Katie Dale
  • uploads///Article
    Industrials

    Star Bulk’s liquidity and cash flow

    This part covers Star Bulk’s cash flow numbers given the company’s rapid expansion of its fleet size through acquisitions and other related developments.

    By Katie Dale
  • uploads///Article
    Industrials

    Changes in Star Bulk’s management fees and operating and net income

    Star Bulk’s management fee income is at $0.3 million compared to $0.5 million for 3Q13, due mainly to a decrease in the number of vessels under management.

    By Katie Dale
  • uploads///Article
    Industrials

    What is Star Bulk’s vessel financing status?

    Due to rapid expansion, Star Bulk’s financing levels are higher compared to its industry peers.

    By Katie Dale
  • uploads///Article
    Industrials

    Depreciation expense increases; Star Bulk addresses capex fund

    Star Bulk’s depreciation and interest costs Star Bulk Carriers Corp.’s (SBLK) depreciation expense increased to $10.7 million for the third quarter of 2014, compared to $4.0 million for the third quarter of 2013. The increase was due to the increase in the company’s average number of vessels in its fleet and the corresponding increase in […]

    By Katie Dale
  • uploads///Article
    Industrials

    A growing fleet increases Star Bulk’s voyage revenues

    For 3Q14, Star Bulk recorded total voyage revenues of $36.5 million compared to $17.3 million for 3Q13. This increase is due mainly to its growing fleet.

    By Katie Dale
  • uploads///Article
    Industrials

    Perfect timing for Star Bulk’s fleet acquisition

    Star Bulk merged with Ocean Bulk in July, right after the high price levels of March weakened. It took advantage of even lower vessel prices in its Excel acquisition in August.

    By Katie Dale
  • uploads///Article
    Industrials

    Overview: Star Bulk Carriers’ earnings and fleet

    Star Bulk Carriers’ fleet includes 52 operating vessels, 16 second-hand vessels yet to be delivered, and 35 newbuilding vessels still under construction.

    By Katie Dale
  • Industrials

    Grain trade outlook may boost Star Bulk’s vessel demand

    During the second half of 2014, Star Bulk Carrier Corp (SBLK) might experience a combination of healthy U.S. exports. If the estimated scenario is correct, the Panamax and Supermax will enjoy increased exports and significantly boost vessel demand.

    By Katie Dale
  • Industrials

    Star Bulk comments on Chinese and Indian coal markets

    Star Bulk Carriers Corporation (SBLK) remains confident that imports will produce strong ton miles growth during the medium term due to substitution of poor quality short-distance imports with high-quality long hauls.

    By Katie Dale
  • Basic Materials

    China’s iron ore market dynamics: A positive for Star Bulk

    Star Bulk (SBLK) believes that the substitution of expensive Chinese iron ore production with imported iron ore can provide a significant support to iron ore trade, even with zero steel production growth.

    By Katie Dale
  • uploads///Newcastlemax
    Industrials

    Star Bulk eco fleet and Newcastlemax vessels a benefit for the company

    By using Newcastlemax vessels, Star Bulk Carriers Corporation (SBLK) experiences a significant reduction of dollar per ton cost on major routes during a high bunker environment. The benefits of eco are improving cash flow during a high-freight market and downside protection during a low-freight market.

    By Katie Dale
  • Industrials

    Second quarter expenses on the rise with expanding vessel base

    Star Bulk’s vessel operating expenses totaled $8.1 million, compared to $6.8 million in year ago quarter. This was due to a higher average number of vessels in the second quarter of 2014 compared to the second quarter of 2013.

    By Katie Dale
  • Industrials

    Newbuilding program means stable outlook for Star Bulk

    Going forward, Star Bulk Carriers’ (SBLK) focus remains on integrating the newly acquired fleet into its highly efficient platform. It will also continue to monitor and assess the market for further accretive growth opportunities.

    By Katie Dale
  • Industrials

    Star Bulk’s countercyclical Excel Maritime acquisition

    Star Bulk Carrier’s (SBLK) acquisition from Excel Maritime is well-timed from a short-term and a long-term point of view. The company acquired Panamax/ Kamsarmax vessels at historically low prices, with Panamax vessel prices currently at the lowest level in 2014, a 21% decline compared to its peak in April.

    By Katie Dale
  • Energy & Utilities

    Star Bulk merges with Oceanbulk, Heron, and Pappas

    In the merger, Star Bulk issued a total of 54.1 million common shares to the entities involved, of which 45.5 million shares (61.3% shareholding) were issued to Oaktree and 8.6 million (12.6% shareholding) were issued to Pappas shareholders.

    By Katie Dale
  • Industrials

    Star Bulk could become largest U.S. dry bulk shipping company

    Star Bulk Carriers Corporation (SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, is en route to becoming the largest U.S. listed dry bulk shipping company.

    By Katie Dale
  • Industrials

    Star Bulk overview: Fleet and business strategy

    Star Bulk’s fleet profile enables it to serve its customers in both major and minor bulk trades, and its vessels are able to trade worldwide in a multitude of trade routes carrying a wide range of cargo.

    By Katie Dale
  • Energy & Utilities

    China’s decrease in real estate sales show weak market conditions

    In order to support the housing sector, Beijing planned cuts in taxes and loosened monetary policy to ramp up activity in the sector.

    By Katie Dale
  • uploads///China Real Estate Climate    e
    Industrials

    Below-average Real Estate Climate Index is positive for shipping

    The significance of the real estate climate index The last indicator that investors could use to get an understanding of the real estate situation in China is the Real Estate Climate Index. The National Bureau of Statistics developed this index to capture the trends and situation in the property market using eight indicators related to […]

    By Xun Yao Chen
  • uploads///Dry Bulk Vessel Prices  Year Old    e
    Industrials

    Dry bulk shipping weekly analysis (Part 10: Ship prices)

    Continued from Part 9 Why should you watch ship purchase prices? Purchase prices for ships are often good indicators of financial health in the shipping industry. When shipping demand grows more than the supply of ships, shipping companies place additional orders, which drives up purchase prices. Plus, when firms are able to charge higher prices […]

    By Xun Yao Chen
  • Industrials

    Dry bulk shipping weekly analysis (Part 3: Construction rises)

    Continued from Part 2 Ship construction activity Part 2 of this series explains how ship orders can illustrate managers’ expectations for future supply and demand differentials. But new ship orders don’t always translate into new constructions right away. Sometimes, shipping firms specify a particular date of delivery for the new orders. If the delivery date is farther […]

    By Xun Yao Chen
  • uploads///Baltic Dry Index    e
    Industrials

    Market Realist dry bulk shipping blast (Part 5: Shipping rates)

    Continued from Part 4 Supply and demand drives dry bulk shipping companies Although we must analyze demand  in order to project future dry bulk shipping rates, imports data aren’t widely available on a weekly basis. But shipping rates, which reflect the difference in demand and supply, are collected on a daily basis at the London-based Baltic […]

    By Xun Yao Chen
  • uploads///China Iron Ore Price    e
    Basic Materials

    Why iron ore prices rising to two-month high is positive for dry bulk shippers

    Commodity prices and shipping Commodity prices are leading indicators of an economic cycle. Because suppliers of raw materials require time to ramp up production, an increase in demand during an economic expansion will often lead to higher prices. As a result, commodity prices correlate highly with shipping. Iron ore prices On July 25, the price […]

    By Xun Yao Chen
  • uploads///Thermal Coal Port Inventory    e
    Energy & Utilities

    Thermal coal inventory rolling over, negative implication for dry bulk shippers

    Inventory levels and shipping rates Inventory levels for thermal coal at Chinese ports reflect the safety net that companies decide to hold, as well as the difference in expected and actual demand. When inventory falls to a specific amount, imports often rise as companies seek to replenish stock. Higher imports cause higher shipping rates (in […]

    By Xun Yao Chen
  • uploads///China Iron Ore Inventory    e
    Basic Materials

    Why the low inventory-to-production ratio supports iron ore imports and shippers

    Why inventory data is important Iron ore inventory at Chinese ports reflects the safety net and the imbalance between iron ore supply and steel mill’s demand. When inventory levels are high, they reflect possible overpurchase by importers, which may prompt them to cut back on imports in order to lighten up inventory in the near […]

    By Xun Yao Chen
  • uploads///China Government Y Credit Default Swap    e
    Industrials

    Why China’s bear case economic growth will hurt dry bulk stocks (Part 3)

    Continued from Part 2 Credit default swap and the Chinese economy Credit default swap (CDS) is an instrument investors use to protect a debt investment from defaulting over a specific period in exchange for a payment. Like insurance, the price of a credit default swap depends on the expected likelihood of default. When the probability […]

    By Xun Yao Chen
  • Industrials

    Why you should watch 7 key industry indicators for shipping fundamentals (Part 4)

    Continued from Part 1 Ship retirement can indicate excess capacity The rate at which companies retire ships often reveals whether the dry bulk shipping industry is facing excess capacity or not. When excess capacity pressures the shipping industry, firms will often retire older ships to alleviate pressure on shipping rates and maintenance costs. Nonetheless, high […]

    By Xun Yao Chen
  • Industrials

    Why you should watch 7 key industry indicators for shipping fundamentals (Part 3)

    Continued from Part 1 Ship construction activity Part 2 of this series explains how ship orders can illustrate managers’ expectations for future supply and demand differentials. But new ship orders don’t always translate into new constructions right away. Sometimes, shipping firms specify a specific date of delivery for the new orders. If the delivery date […]

    By Xun Yao Chen
  • uploads///Dry Bulk Shipping Stocks    e
    Industrials

    Why you should watch 7 key industry indicators for shipping fundamentals (Part 1)

    Dry bulk shipping companies lag behind economic recovery Despite the U.S. stock market surpassing its 2008 highs recently, with the Dow Jones Industrial Index hitting 15,464.30 and S&P 500 hitting 1,680.19 as of July 12, 2013, dry bulk shipping companies have done poorly. These companies primarily transport raw materials such as iron ore, coal, and […]

    By Xun Yao Chen
  • uploads///China Interbank Repo  Months    e
    Industrials

    Why credit default swap affects dry bulk shipping stocks (Part 2)

    Continued from Part 1 Is the risk of China’s economic collapse over? The recent decline in credit default swap (CDS) prices reflects a sense that there’s less probability China’s economy will collapse, as the central bank injected capital into banks to bring the interbank repo rates down. But is the risk over? History suggests not […]

    By Xun Yao Chen
  • uploads///Global Iron Ore Imports    e
    Industrials

    Why China remains a risk for dry bulks as bank interest rate stays above average

    The impact of China’s financial industry The financial industry is an essential part of any economy. Without a stable financial system—one that supplies liquidity to businesses and individuals and bridges the gap between savers and borrowers—an economy can’t function as efficiently and productively as it could. So a collapse in China’s financial industry would grind […]

    By Xun Yao Chen
  • uploads///China Inflation    e
    Industrials

    Must-know: Commodity prices and dry bulk shipping stocks (Part 1: Inflation and steel)

    Inflation, the economy, and shipping Commodity prices often rise when growth in demand exceeds growth in supply. This generally happens during the recovery or expansionary stage of an economic cycle, because producers are often unable to keep up with the rapid increase in orders. So inflation is often a positive indicator of economic health, which […]

    By Xun Yao Chen
  • uploads///Global Iron Ore Imports    e
    Industrials

    Why China’s interbank rates have an impact on dry bulk shipping companies

    The impact of China’s financial industry The financial industry is an essential part of any economy. Without a stable financial system—one that supplies liquidity to businesses and individuals and bridges the gap between savers and borrowers—an economy can’t function as efficiently and productively as it could. So, a collapse in China’s financial industry would grind […]

    By Xun Yao Chen
  • uploads///Dry Bulk Vessel Prices  Years Old    e
    Industrials

    Ship prices rise to 8-month high, supporting dry bulk shipping recovery

    Why should you watch ship purchase prices? Purchase prices for ships are often good indicators of financial health in the shipping industry. When shipping demand grows more than the supply of ships, shipping companies place additional orders, which drives up purchase prices. Additionally, when firms are able to charge higher prices for transporting goods across […]

    By Xun Yao Chen
  • uploads///China Interbank Repo  Months    e
    Industrials

    China’s interbank lending rate falls below 6.0%, positive for dry bulk shipping?

    Update to Must-know: Shipping companies hit by China’s financial woes The impact of China’s financial industry The financial industry is an essential part of any economy. Without a stable financial system—one that supplies liquidity to businesses and individuals and bridges the gap between savers and borrowers—an economy can’t function as efficiently and productively as it […]

    By Xun Yao Chen
  • uploads///Baltic Shipping Index by Ship Class    e
    Industrials

    Dry bulk shipping rates rise due to restocking, but likely downside looming

    The dry bulk shipping industry’s service is commoditized. So, supply and demand balance is one of the most important drivers for dry bulk companies’ top- and bottom-line performances.

    By Xun Yao Chen
  • Industrials

    Shipping capacity growth breaks below 7%, first time since 2009

    Why is capacity important? Capacity is an important factor that directly impacts companies’ top line (revenue) in a highly commoditized industry, like shipping. When capacity grows faster than what’s demanded, competition rises among individual shipping firms as they try to use idle ships and cover fixed costs. This lowers day rates, which negatively affects bottom […]

    By Xun Yao Chen
  • uploads///Inflation CPI    e
    Energy & Utilities

    Low inflation supports availability of monetary stimulus, positive for shipping stocks

    Inflation’s impact on spending and investment Central banks often set a target on inflation rate because a mild inflation rate encourages people to spend more, while it also points out that demand is rising more than supply—a situation that suggests a growing economy. When inflation is high, however, central banks will use monetary policies to […]

    By Xun Yao Chen
  • Energy & Utilities

    Shipping industry recovery is real, but timing remains uncertain

    Ship orders reflect managers’ assessments of the industry’s future demand and supply balance. Dry bulk shipping companies will often place new orders when future demand is expected to increase more than supply, on the condition that they expect to generate profits with new vessels.[1. Dry bulk shipping companies engage in the transportation of dry raw […]

    By Xun Yao Chen
  • uploads///shaah shahidh subrrYxvA unsplash
    Energy & Utilities

    Panamax vessel price reveals low dry bulk orders, negative implication

    The price of a Panamax ship depends on two factors: the amount of cash the ship can generate within its useful life and the cost of steel.

    By Xun Yao Chen
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