Navios Maritime Midstream Partners LP
Recent Developments for Navios Maritime Midstream Partners
In October, NAP amended its existing management agreement with Navios Tankers Management. It extended the fleet’s fixed-fee period for commercial and technical management services.
China Had the 2nd-Highest Crude Oil Imports in August
August was the first time in 22 months that China has recorded a YoY increase in imports. Crude oil imports for China are now at a record high.
Analysts Recommend a ‘Hold’ on Navios Maritime Midstream Partners
The consensus 12-month target price for Navios Maritime Partners is $4.83, which implies a potential upside of 40.82% from its market price on July 12.
Credit Suisse Downgrades Navios Maritime Midstream Partners
Consensus recommendations On January 13, 2017, Credit Suisse downgraded Navios Maritime Midstream Partners (NAP) to “neutral” from “outperform” and decreased the target price to $12 from $13. Only five analysts give recommendations on Navios Maritime Partners. According to Reuters, the consensus rating for the stock is 2.6, which means a “hold.” One analyst has given a […]
China’s PMI Hits 19-Month Low—How It Impacts the Crude Tanker Industry
In February 2018, China’s manufacturing PMI (purchasing managers’ index) was 50.3.
Week 12: Nordic American Tankers Struggled
In week 12 of 2018, which ended on March 23, the BDTI rose from 635 to 656. In week 11, the index dropped by 18 points.
How the OPEC Production Cut Turned Out for Crude Tankers
Crude oil production has gradually fallen since the beginning of 2016, especially on the non-OPEC (Organization of the Petroleum Exporting Countries) side.
How Crude Tanker Stocks Fared before the Holidays
Week 51 was a mixed bag for crude oil tanker investors. DHT Holdings (DHT) was the top performer, and Nordic American Tankers (NAT) and Frontline (FRO) were the worst.
Week 44: Weekly Crude Tanker Industry Update
In week 44, many of the crude tanker stocks traded in the red. Only Frontline and Navios Maritime Midstream Partners traded in the green.
China’s Auto Sales Rise 8.8%: The Impact on Crude Oil Tankers
China’s (MCHI) auto sales for the first two months of 2017 were 8.8% higher than sales for the same period in 2016.
Who Were the Top MLP Losers Last Week?
Four of the top MLP losers last week were marine transportation MLPs, including GMLP, CPLP, KNOP, and NAP.
Week 44 Was Another Week of Falling Tanker Stocks
Week 44 ended on November 4, 2016. The BDTI (Baltic Dirty Tanker Index) rose from 660 to 665 at the beginning of the week.
Top MLP Gainers in the Week Ending April 20
Navios Maritime Midstream Partners (NAP) was the top MLP gainer in the week ending April 20. Navios Maritime Partners rallied 29.2%.
Crude Tanker Index Rose in Week 16
In week 16, the BDTI was higher than the previous year’s level. On average, the index was 4% higher than the same period last year.
China’s Auto Sales Rose in August, Impacted Crude Tankers
In August 2017, China’s auto sales rose 4.1% YoY (year-over-year). Its total vehicle sales rose 5.3% to 2.19 million in August.
Week 9: Crude Tanker Industry Update
In week 9 of 2018, which ended on March 2, the BDTI rose from 646 to 669. In week 8, the index fell by three points.
Understanding China’s Rising Auto Sales in November 2016
China’s (FXI) auto sales rose to ~2.9 million in November 2016 from ~2.7 million in October.
Crude Tanker Stocks and the BDTI Index in Week 39
In week 39, the week ending September 29, the BDTI rose to 776 from 772. In week 38, the index rose by 28 points. It rose for the fifth consecutive week.
Understanding Navios Maritime Midstream Stock Fall
In 1Q17, NAP’s revenue fell 12.6% to $21.1 million, as compared to $24.15 million in 1Q16.
Best-Performing MLPs in the Week Ended July 13
CVR Partners (UAN) rallied 9.7% in the week ended July 13, making it the top MLP gainer for the week.
MLPs with the Highest Distribution Yields in 2018
REITs and utilities, which are considered income-generating investments, are trading at ~4.1% and ~3.9%, respectively.
EV Energy Partners Was the Top MLP Gainer Last Week
EV Energy Partners (EVEP), Mid-Con Energy Partners MCEP), and Legacy Reserves (LGCY) led the MLP top gainers last week ending November 3.
Crude Tanker Stocks Fell in Week 29
The BDTI can be used to assess the crude tanker industry. In week 29 (week ending July 20), the BDTI fell from 744 to 723.
Analysts See a 43% Potential Upside for Teekay Tankers
The consensus 12-month target price for Teekay Tankers is $1.69, which implies a potential upside of 43.2% from its July 11 market price.
How China’s Manufacturing Industry Is Performing
China’s manufacturing purchasing managers’ index In March 2017, China’s manufacturing PMI (purchasing managers’ index) score, a key indicator of the country’s economic health, stood at 51.8 (MCHI) (FXI). That was slightly higher than the 51.6 seen in February 2017. Its PMI score has risen for nine months straight. The reading was well above Reuters’s estimate and […]
Week 7: Crude Tanker Industry Update
In week 7 of 2018, which ended on February 16, the BDTI rose to 649 from 642. In week 6, the index fell by 16 points.
Euronav: Recycling Is Encouraging for the Tanker Industry
Euronav (EURN) discussed the crude tanker industry in its 1Q18 conference call. Euronav talked about headwinds and constructive drivers.
Navios Maritime Midstream Partners: Company overview, fleet
Since its listing on November 14, 2014, until January 16, 2015, Navios Maritime Midstream Partners recorded a 4.2% increase in its share price.
Navios Maritime Midstream may enter LPG market
The international LPG shipping market is volatile in profitability, charter rates, and vessel values, adversely affecting businesses during downturns.
Navios Maritime Midstream: Analyst targets, management comments
Angeliki Frangou, head of Navios Group, expects 2015 to be an uncertain period. Factors include anemic growth in Europe and deflationary fears in Japan.
Which MLPs Lost More than 10.0% in the Week Ending February 9?
NuStar GP Holdings (NSH) and its limited partnership, NuStar Energy (NS), were the top two MLP losers in the week ending February 9.
How Did the Crude Tanker Industry Fare in Week 30?
In week 30, the week ending July 27, the BDTI rose to 759 from 723. The BDTI has risen ~8.4% in 2018.
China’s June Data Impact the Crude Tanker Industry
China (FXI) released its key economic data for June—import and export data, auto sales data, and the manufacturing index.
Navios Maritime Midstream Partners: Q2 2018 Highlights
Navios Maritime Midstream Partners (NAP) released its second-quarter results today. The company earned revenue of $20.8 million.
Analysts’ Estimates before Euronav’s Q2 2018 Results
The consensus 12-month target price for Euronav is $10.89, which implies a potential upside of 22.36% from its market price on July 12.
Week 26: Crude Tanker Industry Update
In week 26, which ended on June 29, the BDTI fell from 754 to 712. In week 25, the index dropped by one point.
These Crude Tanker Companies Had Positive Free Cash Flow in Q1
Previously, we discussed crude tanker companies’ EBITDA. In this article, we’ll discuss their FCF (free cash flow).
Comparing Euronav’s, Frontline’s, and Teekay Tankers’ Earnings
Previously, we compared five crude tanker companies’ Q1 2018 revenue. In this article, we’ll look at their Q1 2018 EBITDA.
Comparing Crude Tanker Companies’ Time Charter Equivalent Rates
In this series, we’ll compare crude tanker companies’ performance and their outlook for future quarters.
Crude Tankers: Wells Fargo’s Revised Recommendations
On June 18, Wells Fargo upgraded DHT Holdings (DHT), Frontline (FRO), and Teekay Tankers (TNK) to “outperform.”
How China’s May Crude Oil Imports Affect Crude Tanker Stocks
In dollar terms, China’s (FXI) exports rose 12.6% YoY (year-over-year) while its imports rose 26% in May.
Why China Remains So Important for the Crude Tanker Industry
China, which has the second-largest economy in the world, also has a significant impact on the crude oil tanker industry.
Euronav’s Updates in Week 24
On June 15, Euronav sold six VLCCs (very large crude carriers) to Seaways. The company sold six vessels for a consideration of $434 million.
Evercore Revised Tsakos Energy Navigation’s Target Price
On June 15, Evercore reduced the target price for Tsakos Energy Navigation to $5 from $6 and maintained an “outperform” rating.
Why Nordic American Tankers Stock Jumped 21% Yesterday
Shares of Nordic American Tankers (NAT) closed at $2.62 on June 18—21.3% higher than the previous day’s closing price.
NAP: Analysts’ Recommendations for May
Navios Maritime Midstream Partners earned revenues of $19.8 million in the first quarter—6.3% lower than the previous year.
Teekay Tankers: Analysts Recommend a ‘Hold’
For Teekay Tankers, one analyst recommended a “strong buy,” two recommended a “buy,” four recommended a “hold,” and one recommended a “sell.”
China’s April Trade Data and the Crude Oil Tanker Industry
China, which has the second-largest economy in the world, has a significant impact on the crude tanker industry.
JPMorgan Chase Upgraded Navios Maritime Midstream Partners
On April 20, JPMorgan Chase upgraded Navios Maritime Midstream Partners (NAP) by two notches to “overweight” from “underweight.”
Which Crude Tanker Company Earned the Highest TCE in 4Q17?
In this article, we’ll compare the TCE (time charter equivalent) rates these crude tanker companies achieved in 4Q17.
JPMorgan Chase: Revisions for TNP and EURN
On March 23, 2018, JPMorgan Chase reduced Tsakos Energy Navigation’s (TNP) target price to $5 from $5.5.
Week 10: Crude Tanker Industry Overview
In week 10 of 2018, which ended on March 9, the BDTI dropped to 653 from 669. In week 9, the index rose by 23 points.
China’s January Auto Sales Impact the Crude Tanker Industry
The China Association of Automobile Manufacturers predicts 3% auto sales growth in 2018—the same as the growth rate in 2017.
Analyzing China’s January Purchasing Managers’ Index
In January 2018, China’s manufacturing PMI (purchasing managers’ index) was 51.3. The PMI fell from 51.6 in December.
China’s Crude Oil Imports Rose 20% in January
China released its trade data for January. In dollar terms, China’s exports rose 11.1% YoY (year-over-year), while its imports rose 36.9%.
How Navios Maritime Midstream Partners’ Revenues Trended in 4Q17
Navios Maritime Midstream Partners’ (NAP) 4Q17 revenue of $22.7 million fell $0.1 million from the $22.8 million revenue recorded in 4Q16.
Analysts’ Recommendations before NAP’s 4Q17 Results
Four analysts cover Navios Maritime Midstream Partners (NAP). According to Reuters, the consensus rating for the stock is 3.25, which means a “hold.”
Navios Maritime Midstream Partners’ Revenue Could Fall 7%
Analysts expect revenues of $21.18 million for Navios Maritime Midstream Partners in 4Q17—compared to $20.7 million in the previous quarter.
Key Updates from the Crude Tanker Industry Last Week
In week three of 2018, which ended on January 19, the BDTI rose from 684 to 705.
Euronav: Analysts Estimate an 18.7% Fall in Its 4Q17 Revenues
Wall Street analysts expect revenues of $118.9 million for Euronav (EURN) in 4Q17—compared to $104.8 million in the previous quarter.
Analyzing China’s December Auto Sales Data
In December 2017, China’s auto sales rose 0.1% YoY (year-over-year) to 3.1 million. China’s automobile sales have been rebounding since June.
Was China’s December PMI Data Positive for Crude Tankers?
In December 2017, China’s manufacturing PMI (purchasing managers’ index) was 51.6. The PMI fell from 51.8 in October.
Euronav: Analysts’ Target Price and Estimates
The consensus rating for Euronav is a “buy.” Out of the 12 analysts that gave recommendations on Euronav, 67% are bullish on the stock.
Analysts’ Recommendations for NAP, DHT, and TNP
Analysts’ consensus target price is $9.5 as of December 19. NAP is trading at $9.21, which implies a 3.1% return in the next 12 months at the current price.
Top 2 Crude Tanker Stocks: Analysts’ Recommendations
Euronav was the best performing stock in 2017 among its peers. Analysts’ consensus rating for Euronav (EURN) is 2.17, which means a “buy.”
Gener8 Maritime Partners: Second-Best Performing Stock
Gener8 Maritime Partners (GNRT) YTD (year-to-date) returns were -0.89% as of December 18, 2017. It was the second-best performer among its peers in 2017.
Euronav: Best Performing Stock in 2017 among Crude Tankers
Euronav’s (EURN) YTD (year-to-date) returns were 3.7% as of December 18, 2017. It was the best performer among its peers in 2017.
China’s Auto Sales in October Helped the Crude Tanker Industry
In October 2017, China’s automobile sales rose 2% YoY (year-over-year) to 2.7 million. China’s automobile sales have been rebounding since June.
Top MLP Losers for Week Ended November 10
EV Energy Partners (EVEP), an upstream MLP, was the biggest MLP loser last week, which ended on November 10, 2017. EVEP fell 25.5%.
These MLPs Rose More than 6% Last Week
NGL Energy Partners (NGL) was the top MLP gainer last week. NGL rose 17.2% during the week due to the rally in crude oil prices.
These MLPs Fell More Than 7% Last Week
EV Energy Partners (EVEP) was the worst-performing MLP last week. It fell a massive 20.9% during the week.
Analysts Cut the Target Prices for NAP and NAT
For Nordic American Tankers (NAT), five analysts recommended a “hold,” two analysts recommended a “sell,” and two analysts recommended a “strong sell.”
Which MLP Subgroups Were the Biggest Losers during May 2017?
Marine transportation MLPs fell ~13.5% during May 2017.
Analysts’ Recommendations for Euronav after Its 1Q17 Results
According to Reuters, Euronav’s (EURN) consensus rating is 2.21, which means “buy.” Currently, 14 analysts cover Euronav.
How Crude Oil Tanker Stocks Are Performing
China is a key market for crude oil tankers, so in this series, we’ll assess its oil imports, its suppliers, its economic health, and its impact on the crude tanker industry.
Navios Maritime Midstream Partners Declared 1Q17 Dividend
On April 24, 2017, Navios Maritime Midstream Partners (NAP) declared a cash dividend of $0.42 per unit for the first quarter of 2017.
What to Expect from NAP’s Revenue in 2017 and 2018
Navios Maritime Midstream Partners’ revenue for fiscal 2016 rose by $8.5 million to $91.8 million—compared to revenue of $83.4 million in 2015.
Key Developments for Navios Maritime Midstream Partners
Under the Continuous Offering Program, Navios Maritime Midstream Partners issued 56,000 common units in 4Q16. There were 313,103 total units issued in 2016.
Analyzing Navios Maritime Midstream Partners’ 4Q16 Earnings
On January 25, Navios Maritime Midstream Partners announced its 4Q16 revenue and earnings after the markets closed. Its revenue fell 11% to $22.8 million.
Analysts’ Estimates and Recommendations for GNRT
Revenue and earnings estimates Wall Street analysts estimate that General Maritime Partners’ (GNRT) revenue will be ~$95 million in the fourth quarter, compared with $69 million in 3Q16 and ~$100 million in 4Q15. While revenue is expected to be lower year-over-year, EBITDA (earnings before interest, tax, depreciation, and amortization) are estimated to higher. Analysts expect 4Q16 EBITDA […]
The Rise and Fall Saga Continues for the Crude Oil Tanker Index
In week 49, which ended on Friday, December 9, 2016, the BDTI (Baltic Dirty Tanker Index) rose from 889 to 903. In the previous week, the index fell.
Frontline’s Dividends Have Fallen Every Quarter in 2016
Frontline’s (FRO) operating cash flow in 3Q16 was $48.0 million compared to $32.0 million in 3Q15. That’s a 50.0% rise year-over-year.
Tsakos Energy Lowered Its Dividend to $0.05 per Share
In 2016, Tsakos Energy Navigation raised its dividends to $0.08 per share—a 33% increase. However, it lowered the dividends to $0.05 per share.
Tsakos Energy Navigation: Earnings Highlights
Tsakos Energy Navigation’s (TNP) net income for the first nine months of 2016 was $43.8 million. Its EBITDA was $151 million for the same period.
Digging into Frontline’s 3Q16 Results
Frontline (FRO), a crude oil carrier based in Hamilton, Bermuda, released its 3Q16 earnings on November 29, 2016. Its net income was $5.5 million, which is $0.03 per share.
Analyzing the Crude Tanker Industry in Week 46
The BDTI (Baltic Dirty Tanker Index) was 834 on November 21, 2016. In week 46, which ended on November 18, 2016, the BDTI rose from 750 to 828.
How Was China’s Manufacturing PMI in October?
In October 2016, China’s manufacturing PMI (purchasing managers’ index), which is an indicator of the country’s economic health, came in at 51.2 (MCHI) (FXI).
Crude Tanker Stocks Rose during Election Week
The BDTI (Baltic Dirty Tanker Index) was at 740 on November 14, 2016. The BDTI tracks shipping rates for crude oil (DBO) on representative routes.
Nordic American Tankers’ Long Dividend History Continued
Nordic American Tankers has a long history of paying dividends—77 consecutive quarters to date. It declared a cash dividend of $0.26 per share on October 27.
NAP Has Declared a $0.42 Cash Distribution
NAP has declared a cash distribution of $0.42 per share, representing an annualized distribution of $1.69 per share. The quarterly distribution was the same as last quarter.
NAP Stock Rose 12.0% after 3Q16 Results
On October 26, 2016, Navios Maritime Midstream Partners (NAP) announced its 3Q16 revenue and earnings. NAP stock rose 12.0% that day compared to the previous day’s closing price.
US Oil Export Destinations Widen: The Crude Oil Tanker Benefit
The lifting of the US oil export ban is expected to change the trade dynamics of crude oil tankers. This is the first full year in which US crude oil is available for exports.
Performance of Baltic Dirty Tanker Index in Focus
The BDTI (Baltic Dirty Tanker Index) stood at 554 on September 12, 2016. For the week ended September 9 (Week 36), the BDTI rose to 542 from 516 at the beginning of the week.
Week 30: Baltic Dirty Tanker Index Shows Bad Week for Investors
The BDTI (Baltic Dirty Tanker Index) stood at 532 on August 1, 2016. For the week ending July 29 (week 30), the BDTI fell to 541 from 582 at the beginning of the week.
Why the Shipping Index Fell 17% Year-over-Year in Week 23
In this series, we’ll look at the cost side of the tanker shipping industry by reviewing bunker fuel costs. We’ll also see how analyst sentiments have changed in week 23.
Analyzing Dividends of Highest Dividend Yield Crude Tanker Company
Before the 2015 merger of Frontline and Frontline 2012, the company did not pay any dividends to its shareholders. The first dividend after the merger was paid by Frontline in December 2015.
Week 20: Baltic Dirty Tanker Index Fell 16% Year-over-Year
The BDTI (Baltic Dirty Tanker Index) stood at 731 on May 23, 2016. For the week ended May 20, 2016—week 20—the BDTI rose to 744 from 732 at the beginning of the week.
Week 14 Update: Analysts Cut Target Prices for Crude Tankers
For the week ending April 8, all the crude tanker stocks except that of Nordic American Tankers (NAT) ended in negative territory. NAT was flat on the week.
Why Crude Demand from China Is Important for the Tanker Industry
China, the second-largest economy in the world, is a key factor in the crude oil tanker industry.
Week 12: Shipping Index Fell, VLCC Rates Plunged by 25%
According to Allied Shipping Research, VLCC (very large crude carrier) rates for the benchmark Gulf-to-Japan route dropped by 25% week-over-week.