Navios Maritime Acquisition Corp
Scorpio Tankers’ shares in Dorian to be registered for resale
Dorian will be registering for resale, under the Securities Act of 1933 as amended, all the Dorian shares that Scorpio Tankers (STNG) owns. Scorpio Tankers currently owns approximately 9.4 million shares, or 16.3%, of Dorian.
Scorpio Tankers adopts a shift in charter mix
For the third quarter of 2014, the charter hire expense increased $1.1 million to $32.9 million, from $31.9 million in the year ago quarter.
Despite dividends, Navios is still unattractive to many investors
Dividend yield for Navios Maritime Partners currently stands at 15.8% with the company recently paying a dividend of $0.4425 per common unit.
Why Frontline is on the verge of bankruptcy
Industry analysts suggest that investors should avoid Frontline because of the bankruptcy risk. Currently, the company is facing bankruptcy. This is led by the $190 million bond that’s due in April 2015.
Why the flat oil rig count won’t hinder product tanker demand
US rotatory rig count: The forefront of future oil production The US Crude Oil Rotary Rig Count is a valuable indicator that shows how much drilling activity is occurring in the United States, tracking the number of rotating drills that are drilling into the Earth’s crust in search of oil or developing oil wells. The […]
Outlook for global growth and tanker fleet for Teekay Tankers
Looking ahead to 2015, Teekay Tankers Ltd. (TNK) forecasts 2.0% net global tanker fleet growth with major contribution from the product tanker sector. There is a negative fleet growth estimate for the Suezmax and uncoated Aframax sectors.
Weekly product tanker capacity growth rises, crude tanker falls
While annual capacity growth still remains above 3.5% for crude tankers and even higher for product tankers, it has come down since April, which is a positive sign.
Frontline has options, but they’ll likely put the company behind
There are several things Frontline can do to pay its maturing $190 million bonds. But activities such as selling assets or raising additional capital would likely put Frontline behind its peers.
Crude tanker index 25% lower, product tanker index steady
On August 30, the Baltic Dirty Tanker Index and Baltic Clean Tanker Index stood at 622 and 604, respectively.
Why Capital Product Partners didn’t rally after beating estimates 400%
Beating estimates Let’s begin with earnings since that’s often what analysts and investors look at. For the third quarter of 2013, which was released on October 31 in the morning, CPLP reported basic EPS of $0.35 per share, which was five times more than the estimate of $0.07 per share. Basic EPS of $0.35 a […]
A review of Frontline and its fleet
Frontline Ltd. (FRO) is engaged mainly in the ownership or operation of oil tankers used to transport crude oil. It’s owned by Norwegian shipping magnate John Fredriksen.
Frontline comments on global shipping industry
Frontline recorded better vessel earnings compared to the second quarter. Improved fleet utilization was due to increased travel distance driven by crude moving from the Atlantic Basin to China.
New buyback program approved by Scorpio Tankers
On July 28, 2014, the board of directors of Scorpio Tankers (STNG) approved a new stock buyback program with authorization to purchase up to $150 million of its common stock.
Overview: Nordic American Tankers
In the fall of 2004, NAT owned three vessels and at the end of 2013 it owned 20 vessels—Suezmax tankers—with tankers averaging ~156,000 deadweight tonnage (or dwt) each.
Crude oil contango and offshore storage
The drastic drop in crude oil prices created a situation in which the price of near-term crude is cheaper than the price of long-term crude.
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: 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.
Why Is the Fleet Profile for Dry Bulk Companies Changing?
In this article, we’ll look at the fleet profiles for the major dry bulk companies. Various classes of vessels are employed depending on volume, trade routes, and geographical limitations of ports.
Overview: Tsakos’ balanced leverage, liquidity, and valuations
TNP liquidity and leverage position has improved since the 1Q13—total indebtedness at March 31, 2014, amounted to $1,354 million, some $82 million lower than the March 31, 2013, balance.
Must-know: Tsakos’ dividend and stable cash flow
Despite the company’s net cash from financing activities increasing, indicating probable external financing, its net debt to capital has fallen compared to the same quarter last year—TNP has also maintained its consistent dividend levels.
Tsakos Columbia Shipmanagement’s relationship provides leverage
Established in July, 2010, in Athens, Greece, TCM was established as a joint venture between Tsakos Shipping (or TNP) and Trading S.A.—best-in-class ship management—and Schoeller Holdings Ltd., the owner and operator of Columbia Shipmanagement Ltd.—best client service skills.
Why the chartering strategy supports growth and dividend
The company has maintained stability throughout industry cycles with employment of a high percentage of its fleet on long and medium-term employment with fixed rates or minimum rates plus profit sharing agreements.
Must-know: Tsakos’ fleet structure and investments
Tsakos Energy Navigation (or TNP) fleet consists of 60 double-hull vessels, a mix of crude tankers, product tankers, and LNG carriers, totaling 6.2 million deadweight tonnage (or dwt).
Overview: Tsakos Energy Navigation
Tsakos Energy Navigation is a leading provider of international seaborne petroleum product and crude oil transportation services—it operates petroleum product tankers and crude oil carriers’ fleet providing worldwide marine transportation services.
Why Frontline doesn’t have the liquidity to pay a $190 million bond
So would Frontline be able to come up with $190 million to pay off its debt that matures in 2015? As of March 31, 2014, Frontline Ltd. (FRO) had ~$111 million in cash and cash equivalents.
Why liquidity and restructuring dragged Frontline shares down 16%
The restructuring gave Frontline time to ride through the industry’s weakness that also negatively affected Teekay Tanker Ltd. (TNK), Navios Maritime Acquisition Corp. (NNA), and the Guggenheim Shipping ETF (SEA).
Why Frontline’s high cash breakeven could mean underperformance
While rates in 2014 are expected to average above 2013, and Frontline could still perform well from here, its performance could lag. It’s also a riskier investment than its peers.
Rising orders for refined oil shipping spell higher rates ahead
On November 8, the overall orderbook for product tankers stood at 12.43% of existing capacity measured in dwt (deadweight tonnage).
Why weak September orders led to weak product tanker performance
September was rather a weak month for product tankers. But there’s no sign yet that managers are seeing a cloud over the ocean’s horizon, and the long-term trend remains positive.