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.
Why 15-year ship prices point to negative outlook for tanker stocks and earnings
Why ship prices (value) matter Ship prices (values) 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 of ships, which drives up purchase prices. Additionally, when firms are able to charge higher prices for transporting goods across the […]
Magnetar decreases stakes in American Airlines
Magnetar reduced its position in AAL in the third quarter. The position accounts for 1.17% of the fund’s total portfolio in the third quarter.
US oil production expected to hit record in 2013, negative for tankers
US oil rig count is a leading indicator of US oil production and oil imports. Since 2008, a boom in US oil industry has negatively impacted demand for tankers (see Tankers will likely underperform dry bulk ships in 2013)— vessels that transport oil across ocean. Higher US oil production, due to application of technologies called […]
Teekay LNG Partners: Top-Performing LNG Carrier Stock in 2017
Teekay LNG Partners (TGP) was the best-performing stock in 2017 among the LNG carrier companies. TGP reported a year-to-date return of 36.6% on December 20, 2017.
Crude Oil Declines on Strong Stockpile Data
June WTI crude oil futures declined by 1.99% and settled at $55.26 per barrel on Tuesday, April 21. Oil prices fell due to increasing stockpile data.
Crude Oil Prices Increase due to Yemen’s Civil Unrest
WTI crude oil futures for June delivery increased by 2.81% on Thursday, April 23. Oil prices surged on the consensus of supply disruption from the Middle East.
Why high shipping capacity growth will continue to pressure tanker earnings
Update to Shipping capacity growth drops but outpaces demand, negative for tanker stocks The importance of capacity In a highly commoditized industry, like the shipping industry, capacity is an important metric that directly impacts companies’ top line, or revenue performance. When capacity grows faster than demand, competition will rise among individual shipping firms as they try […]
Must-read: Financial woe abroad drags tankers down, outlook negative
Continued from Why oil price is a key driver of tanker stocks 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 […]
Eton Park Capital buys a new position in Teekay Corp.
Teekay Corp (TK) is a brand new position initiated by Eton Park in the fourth quarter. It accounts for 2.70% of the fund’s portfolio.
Key tanker stock drivers: China’s crude oil import volume
China’s crude oil import: The most important factor An indicator that has a first-degree (direct) influence on tanker rates is China’s crude oil import volume. When import volume rises, more tankers will be in use, which pushes up shipping rates. Conversely, lower import volume means an increased number of idled ships, which leads to increased […]
Why Teekay’s spot market outlook and valuations attract investors
Industry analysts believe that stronger oil demand, contained growth in crude tanker fleets, and improving economic conditions should support the average spot tanker rates remaining firm in 2014.
Why Teekay Tankers has high liquidity and leverage ratios
With TK evolving from a small player to global marine midstream service provider, the company has garnered significant advantages and a strong standing in the industry.
U.S. oil production could slow in 2014, benefiting crude tankers
As oil production appears to be lagging oil rig count by two to three years, U.S. oil production growth could start to show signs of slowing in 2014. That could be positive for demand for crude tanker companies.
Teekay Tankers: Overview of its earnings and fleet
The revenue mix for Teekay Tankers Ltd. (TNK) is largely contributed by the net pool revenues. The company has developed secured charter-in contracts and created a significant base for the company’s future growth.
What are the benefits of Scorpio Tankers’ newbuilding program?
Scorpio Tankers’ management believes that with the newbuilding program, the company over the summer finally turned the corner of having more ships on the water than vessels under construction at shipyards.
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.
Baltic Dirty Tanker Index widens from October levels
The Baltic Dirty Tanker Index widened to 862 on December 24, 2014, from 639 on October 1. It recorded a 34.9% increase as China increased imports of raw goods.
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.
Teekay Was the NYSE’s Biggest Gainer Last Week
Teekay is one of the world’s largest marine energy transportation, storage, and production companies. It was the NYSE’s top gainer last week.
Teekay Tankers revenue growth and time charter-in vessels
Spot exposure for the Teekay Tankers fleet increased by ~3,900 revenue days for 2015. If the spot market rates rise, TNK can earn higher revenues.
Teekay benefits from vessel acquisitions, time charter-in vessels
Since October 2014, Teekay Tankers has secured time charter-in contracts for two additional Aframax vessels and one additional LR2 vessel.
Teekay Tankers’s fleet demand and tanker rates
In 4Q14, LR2 product tanker rates touched their highest levels since 4Q08. Record high levels of Asian naphtha imports from the West supported LR2 rates.
Teekay Tankers comments on its benefits from LR2 vessels sector
Teekay Tankers’s recent delivery of LR2 vessels were already trading in its Taurus pool. The fleet started generating revenues immediately upon delivery.
The global tanker fleet and its changing trade patterns
The global tanker fleet is forecast to grow by 1.7% in 2015, with higher growth weighted toward the product sectors.
Teekay Tankers’s drydocking and spot market estimates
The impact of low prices and development of floating storage in 1Q15 are expected to support positive tanker demand in the first half of 2015.
Teekay Tankers’s spot tanker rates, spot market exposure
TNK CEO Kevin Mackay noted that in the past three months, average crude spot tanker rates were at their highest since the strong 2008 winter tanker market .
Teekay Tankers overview and 4Q14 earnings highlights
TNK’s chartering strategy includes vessel employment via a mix of short- or medium-term fixed-rate time charter contracts and spot tanker market trading.
Magnetar raises position in Teekay Corp.
Magnetar increased its position in TK in the third quarter. The position accounts for 7.67% of the fund’s total portfolio in the third quarter.
Must-know: Ship Finance chartering strategy, part one
SFL has five drilling units on long-term fixed-rate bareboat contracts. The rigs generated approximately $80 million in aggregate EBITDA in 2Q2014.
A closer look at Teekay Tankers’ fixed payout dividend policy
With a significant interest alignment of Teekay Tankers and Teekay Corporation, TNK acts like the growth vehicle for TK’s tanker franchise.
Must-know: Eric Mindich and Eton Park’s 4Q13 positions
Eric Mindich’s Eton Park Capital Management posted 22.3% returns in 2013, the fund told investors in a letter cited by news websites.
Magnetar Financial invests in REIT Gaming and Leisure Properties
Magnetar Financial LLC opened a brand new position in Gaming and Leisure Properties (GLPI) that accounts for 0.75% of the fund’s 4Q portfolio.
Why did Magnetar Financial buy stake in Plains GP Holdings?
Magnetar initiated a brand new position in Plains GP Holdings LP (PAGP) that accounts for 2.06% of the fund’s 4Q portfolio.