Author Archives: Tim
Frontline sells VLCC
Here is the press release:
The Board of Frontline Ltd. (the “Company” or “Frontline”) announces that it has agreed to acquire the VLCC “Front Vista” (the “Vessel”) from Ship Finance International Limited at a purchase price of USD 58.5 mill.
Frontline has furthermore agreed to sell the Vessel and the Buyer will settle the [...]
Teekay Tankers forecasts dividends
http://www.teekaytankers.com/index.aspx?page=tnk_news&article_id=727
Teekay Tankers is projecting a first quarter 24 to 27¢ dividend to be paid in March. The company uses a mixture of fixed contract and spot market hires to provide an ongoing dividend plus upside if the rates take off.
The company states that the total dividend for 2010 would be in the neighborhood of $1.30 [...]
A Pair of Teekay Distribution Notices
Distribution notices out today:
Hamilton, Bermuda – January 27, 2009 – Teekay Offshore GP LLC, the general partner of Teekay
Offshore Partners L.P. TOO, has declared a cash distribution of $0.45 per unit for the quarter
ended December 31, 2009. The cash distribution is payable on February 12, 2010 to all unitholders of record.
February 5, 2010.Teekay GP LLC, [...]
Navios Maritime Partners increases dividend
Navios Maritime Partners L.P. – Investors.
Navios Maritime Partners NMM has increased their dividend payout again. The distribution will be bumped half a cent to a quarterly 41¢ per share. NMM has been well managed throughout the shipping slowdown with long term, insured contracts for their dry bulk vessels. It also helps to be able to [...]
World Shipping Routes
I found this map of the world shipping routes at wired.com courtesy of Bernd Blasius. It is interesting to see where the world’s shipping goes and how much of it there is.
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Seaspan declares Q4 dividend
Seaspan Declares Dividend of $0.10 Per Share for Fourth Quarter 2009
HONG KONG, CHINA, Jan 22, 2010 (Marketwire via COMTEX News Network) — Seaspan Corporation (NYSE:SSW) announced today that the Company’s Board of Directors has declared a quarterly dividend of $0.10 per share for the three months ended December 31, 2009. The dividend will be paid [...]
Are Tanker Rates Headed Higher?
Capital Link Shipping | Investing In International Shipping Maritime.
A couple of comments on the above linked tanker market summary. Nice to see VLCC rates back above $85k. They averaged $25k for all of 2009.
There are only 50 VLCC tankers available in the Arabian Gulf for the next month. Typically, 90 of the big tankers are [...]
Shipping Sector Flatlines
Shipping: The World’s Cheapest Sector Is About to Break Out — Seeking Alpha.
The article from Seeking Alpha linked above postulated that the shipping sector is seriously undervalued and due for a breakout to the upside. I am not sure about this analysis, and believe the shipping sector is composed of those companies that have their [...]
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2009 Results for Shipping Stocks
To get started on 2010 and get this blog restarted I thought I would recap the overall results for shipping stocks in 2009. Compared to the broad market, the performance of shipping stocks overall lagged significantly. However, If you managed to pick upsome shares in early March, you probably did really well.
For the year, on [...]
Posted in Dry Bulk, Featured, Mixed, Tanker Leave a comment
Nordic American Tanker results video