Star Bulk Carriers Corp.

Most Recent

  • Dry bulk container
    Industrials

    Star Bulk (SBLK) Stock Is a Good Buy in Cyclical Shipping Industry

    By Mohit Oberoi, CFA
  • uploads///China port inventory
    Macroeconomic Analysis

    Iron Ore Port Inventories Don’t Cheer Dry Bulkers

    Iron ore port inventories have been steady. For the week ending August 14, inventories were 81.5 million tons—an inventory-to-steel production ratio of 1.23x.

    By Anuradha Garg
  • 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///RECI
    Macroeconomic Analysis

    China’s Real Estate Climate Index Inched Up Marginally in June

    China’s real estate climate index has been below 100 since October 2011. A slowdown in the Chinese real estate industry is negative for the iron ore import trade as well as for dry bulk shipping.

    By Anuradha Garg
  • Energy & Utilities

    As China’s key coal imports fall to just ~0%, is there an upside?

    As thermal power output growth has fallen, so has the growth for China’s coal imports from Indonesia and Australia—the two key countries that supply seaborne coal.

    By Xun Yao Chen
  • uploads///China Industrial and Electricity Output
    Energy & Utilities

    China’s key economic conditions: Industrial and electricity output

    Because reporting entities sometimes like to dress their numbers up a bit to look nice, analysts also look at electricity output—where government officials say they don’t have much incentive to cook the numbers.

    By Xun Yao Chen
  • uploads///
    Fund Managers

    What Do Fundamental Bulk Shipping Indicators Say?

    The BDI (Baltic Dry Index) is a leading indicator for the bulk shipping industry. It’s a measure of the cost of shipping major bulk commodities on a number of shipping routes.

    By Santiago Solari
  • Energy & Utilities

    DryShips tries to reduce debt and improve its value-to-loan ratio

    There’s no denying that debt is DryShips’ main concern going forward. The company’s debt stood at a total of $6 billion at the end of the first quarter, up around $500 million quarter-over-quarter.

    By Katie Dale
  • uploads///Steel production
    Macroeconomic Analysis

    Chinese Steel Demand Doesn’t Look Good for Dry Bulkers in 2016

    In this part of our series, we’ll explore how steel demand from the construction, machinery, and infrastructure sectors could shape up in 2016.

    By Anuradha Garg
  • uploads///Coal imports China
    Macroeconomic Analysis

    Should Dry Bulkers Expect Much from Coal Imports in 2016?

    Many market participants are forecasting a further fall in coal imports for China in 2016.

    By Anuradha Garg
  • Energy & Utilities

    Why the Baltic Dry Index is decreasing

    The Baltic Dry Index measures the cost of major raw materials. The raw materials are transported by sea in the global economy. It indicates a strict demand supply price situation.

    By Katie Dale
  • uploads///Refinancing
    Energy & Utilities

    Why investors should look into DryShips’ financing commitments

    DRYS has received firm commitments for a total of up to $520 million from ABN AMRO and Nordea Bank. This is the first major milestone towards the refinancing of the company’s 5% convertible notes maturing in December.

    By Katie Dale
  • uploads///Cyclicality
    Energy & Utilities

    Recommendation: Capitalize on dry bulk shipping’s cyclical waves

    The dry bulk shipping industry is cyclical mainly due to economic or business cycles as well as a long lead time between the placement of orders and the delivery of new vessels.

    By Xun Yao Chen
  • uploads///Demolition
    Macroeconomic Analysis

    Demolition Activity: Dry Bulkers’ Light at the End of the Tunnel?

    The demolition market for dry bulk carriers has been very active lately.

    By Anuradha Garg
  • uploads///BDI Yoy
    Energy & Utilities

    Dry bulk opportunity: The Baltic Dry Index might have bottomed

    The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall rates of moving dry bulk cargoes like iron ore, coal, and grain across water.

    By Yanyu Mao
  • uploads///Performance
    Energy & Utilities

    A must-read overview of DryShips’ 2nd quarter 2014 earnings

    Formed in September 2004, DryShips Inc. (DRYS) is a global shipping transportation company. It offers ocean transportation services for dry bulk cargoes and crude oil worldwide.

    By Katie Dale
  • uploads///BDI
    Macroeconomic Analysis

    What are the Rate Expectations for Dry Bulk in 2016?

    Though increased scrapping and minimal ordering activity could provide some relief on the supply side, the outlook for 2016 isn’t looking good for dry bulk.

    By Anuradha Garg
  • uploads///Dry Bulk Shippers Stock Performance    e
    Industrials

    Morgan Stanley upgrades dry bulk and VLCC, SBLK, SB, DSX rally 10%

    Dry bulk shipping companies are rallying on Morgan Stanley’s review claiming that shipping is at the start of a two-year rally.

    By Xun Yao Chen
  • uploads///
    Fund Managers

    What’s the Outlook for Star Bulk Carriers?

    If dry bulk demand picks up, Star Bulk Carriers (SBLK) with its large fleet would be in a position to capitalize on the upswing.

    By Santiago Solari
  • 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///Supply Demand Balance
    Energy & Utilities

    Dry bulks: NMM’s CEO says “we’re in a very early stage of recovery”

    Investors should recall that the shipping industry is highly cyclical, as demand for fleets is driven by economic cycles and supply is inelastic for about two years—the time it takes to build vessels.

    By Xun Yao Chen
  • uploads///Port hedland exports
    Macroeconomic Analysis

    Port Hedland Iron Ore Exports Were Weak in July

    The bulk of the world’s seaborne iron ore exports come from Australia. According to customs data, Australia supplied 59% of China’s iron ore imports in 2014.

    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///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

    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

    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

    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

    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

    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
  • 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
  • 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
  • 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 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
  • 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’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
  • 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

    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
  • 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
  • uploads///Grain Imports and Exports
    Industrials

    Major importers and exporters of grain and oilseed

    Compared to iron ore and coal, the grain and oilseed trade makes up a much smaller part of overall dry bulk shipments—about 10%.

    By Xun Yao Chen
  • uploads///Coal Trade
    Industrials

    Key players involved in the global seaborne coal trade

    Coal (a fossil fuel) is another large category of dry bulk shipped by dry bulk shippers, comprising close to 30% of total dry bulk shipments.

    By Xun Yao Chen
  • uploads///new lonas
    Energy & Utilities

    Why dry bulk shippers can benefit from China’s record new loans

    Loans play an important role in helping an economy grow by stimulating consumption and investment and creating greater overall demand.

    By Yanyu Mao
  • uploads///Part
    Industrials

    Why dry bulk shipping closely correlates with the world economy

    Unlike other industries, the performances of dry bulk shipping companies highly correlate. These companies are directly impacted by the world economy.

    By Yanyu Mao
  • uploads///Baltic Dry Index YOY and Shipping
    Energy & Utilities

    Have dry bulk shippers like Navios gotten ahead of themselves?

    We’ve learned through previous research that week-to-week movements in the Baltic Dry Index don’t really have a strong relationship with week-to-week movements in dry bulk shipping stocks.

    By Xun Yao Chen
  • uploads///BDI and Benchmark Week to Week
    Energy & Utilities

    The illusory connection of the Baltic Dry Index and stock prices

    Recent movements between the BDI (Baltic Dry Index) and dry bulk shippers have some investors suggesting the BDI highly correlates with stock prices.

    By Xun Yao Chen
  • 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
  • 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
  • uploads///
    Fund Managers

    Some Activist Investors Are Betting that SBLK Has Hit Bottom

    Hedge funds like Caspian, Oaktree, and Monarch are going against the crowd by pinning their hopes on the assumption that SBLK’s share price has reached its floor.

    By Santiago Solari
  • uploads///Newbuild vessel prices
    Macroeconomic Analysis

    Newbuild Vessel Prices Remained Steady in July

    Newbuild vessel prices for all of the ship sizes remained constant in July 2015—compared to June 2015—according to data from Athenian Shipbrokers.

    By Anuradha Garg
  • uploads///Shipping companies performance
    Macroeconomic Analysis

    Dry Bulk Shipping Industry’s Swinging Fortunes

    So far, 2015 has been a roller coaster ride for the dry bulk shipping industry. The Guggenheim Shipping ETF (SEA) has fallen by 12%.

    By Anuradha Garg
  • uploads///Port hedland exports
    Macroeconomic Analysis

    Record Port Hedland Iron Ore Exports: Good for Dry Bulk Shipping

    Iron ore exports from Port Hedland totaled 38.4 million tons in June. In May, exports totaled 38 million tons. So that’s a jump of 14.3% year-over-year and 1.1% month-over-month.

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

    China’s Manufacturing Purchasing Managers’ Index Still below 50

    China’s final reading of the manufacturing purchasing managers’ index came in at 49.4. Factory activity in China has been below the 50 mark for the last four months.

    By Anuradha Garg
  • uploads///Companies YTD Performance
    Macroeconomic Analysis

    Where Is the Dry Bulk Shipping Industry Headed?

    In this series, we’ll discuss some of the important metrics that drive the dry bulk shipping industry. Investors can gain exposure to commodities through the SPDR S&P Metals and Mining ETF (XME).

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

    China’s Iron Ore Imports Decline: Pressures Dry Bulk Shippers

    China consumes close to two-thirds of the global seaborne iron ore. In 2014, China imported 932.5 million tons of iron ore—13.8% more than in 2013.

    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///Dry bulk industry Intro
    Macroeconomic Analysis

    Dry Bulk Shipping Industry: Performance in 2015

    Dry bulk shipping got a major boost from China’s increased appetite for iron ore and coal almost eight years ago. Large ship orders are driving the current oversupply.

    By Anuradha Garg
  • uploads///Hedland export
    Macroeconomic Analysis

    Port Hedland Records Higher Iron Ore Exports

    On a month-over-month basis, iron ore exports to China from Port Hedland increased marginally to 30.25 million tons in February 2015.

    By Katie Dale
  • uploads///Article
    Macroeconomic Analysis

    Port Hedland’s iron ore exports are on the rise

    Shipments through Port Hedland represented 55% of Australia’s iron ore exports last year, and more than 80% of cargoes go to China.

    By Katie Dale
  • Energy & Utilities

    Why coal imports drop as China resorts to renewable resources

    Meanwhile, total generation capacity stood at 1,251.22 gigawatts (or GW)—a 9.4% YoY increase.

    By Katie Dale
  • Energy & Utilities

    Why Port Hedland’s iron ore exports dropped in June

    June exports through the port increased 21% compared to the volumes last year.

    By Katie Dale
  • Energy & Utilities

    The effects of nickel ore and bauxite export bans could linger

    With Indonesia having no intention of reversing its policy and few alternatives, year-over-year growth will likely continue to fall until the end of 2014.

    By Xun Yao Chen
  • uploads///part
    Energy & Utilities

    China’s nickel imports show the gravity of Indonesia’s export ban

    A survey by Bloomberg pointed out that traders and factories in China held about 29 million metric tonnes of nickel stockpiled at ports.

    By Xun Yao Chen
  • uploads///imports in jan
    Energy & Utilities

    Why China saw high growth in iron ore and coal imports in January

    China’s iron ore and coal imports are key factors that drive shipping rates. Iron ore and coal each account for nearly 30% of the world’s dry bulk trade volume.

    By Yanyu Mao
  • uploads///China Thermal and Brown Coal Import
    Energy & Utilities

    A pollution problem will support seaborne coal trade from Australia

    According to Diana’s earnings call, Clarksons predicts that 2014 world seaborne imports of coking coal and thermal coal will increase by 5% and 4%, respectively.

    By Xun Yao Chen
  • uploads///part
    Energy & Utilities

    On the supply side, how optimistic are dry bulk shippers?

    Entering 2014, dry bulk shippers seem to be picking up their optimism again, which is clear in their recent activity purchasing new ships, despite the continuous fall of the Baltic Dry Index.

    By Yanyu Mao
  • Energy & Utilities

    Why seaborne iron ore could replace China’s iron ore

    The sharp rise in the Baltic Dry Index that many analysts saw first in late August and second in November was in part driven by restocking activity of iron ore at Chinese ports.

    By Xun Yao Chen
  • uploads///BDI YOY by Ship Class
    Energy & Utilities

    Why dry bulk shipping stocks fell more than seasonality suggests

    Because vessel supply is inelastic, rates can shoot up given a small change in demand. This is shown as the sharp rise in the year-over-year change in the BDI in late 2013.

    By Xun Yao Chen
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