Category Archives: Dry Bulk
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 [...]
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Quarterly results overview for drybulk earnings
After reading through the earnings report of a bunch of drybulk and dry/tanker mixed fleet companies, I came to realize they are all suffering from the same symptoms and the ways they are handling the problem are not good for shareholders. The problem of seriously falling revenues has squeezed net income even harder, compounded by [...]
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The shipping industry’s $350 billion debt
Felix Salmon » Blog Archive » The shipping industry’s $350 billion debt | Blogs |.
The blog post linked above from Reuters reporter Felix Salmon discusses the large amount of bank debt collateralized by ships. With the current glut of ship inventory, if a company goes under the amount the bank realizes from the sale of [...]
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Navios Maritime Partners boosts dividend
Navios Maritime Partners L.P. – Investors.
Navios Maritime Partners LP NMM has done something rare these days in the world of shipping stocks: They increased the distribution. The new rate is 40.5¢ per share compared to the previous 40¢ per quarter. In the 3rd quarter the company was able to raise capital and commit to the [...]
Genco Shipping and Trading Limited earnings
Genco Shipping and Trading Limited – Press Release.
Genco Shipping GNK has released their 3rd quarter results, full report linked above. The company’s results look significantly better than those for Dry Ships earlier this week. Genco reported a net income for the quarter of $1.10 per share. This is compared to $2.00 per share in the [...]
Dry Ships struggles with earnings
dryspr102609.pdf application/pdf Object.
I will put my thoughts up early today about the Q3 earnings report from Dry Ships DRYS. The poster child for over exuberance in the shipping market, circa 2006 and 2007, does not show much besides staying slightly profitable.
Here are some of the figures that caught my eye:
Net income (without the interest rate [...]
Here is how the various Baltic Exchange shipping indices fared for the week ending 14 August.
Baltic Dry Index (BDI): -10.3%
Baltic Capesize Index (BCI): -14.4%
Baltic Panamax Index (BPI): -6.1%
Baltic Supramax Index (BSI): +1.4%
Baltic Handysize Index (BHSI): -0.7%
Baltic Dirty Tanker (BDTI): +5.2%
Baltic Clean Tanker (BCTI): -4.2%
Here are the results of the corresponding stock indices, courtesy of Capital [...]
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Baltic Indices for Last Week
Here is how the various Baltic Exchange shipping indices fared for the week ending 14 August.
Baltic Dry Index (BDI): -0.7%
Baltic Capesize Index (BCI): +5.9%
Baltic Panamax Index (BPI): -8.0%
Baltic Supramax Index (BSI): -7.1%
Baltic Handysize Index (BHSI): -0.4%
Baltic Dirty Tanker (BDTI): +0.6%
Baltic Clean Tanker (BCTI): -2.8%
Here are the results of the corresponding stock indices, courtesy of Capital [...]
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Navios Maritime Partners quarterly earnings
Navios Maritime Partners L.P. – Investors.
The quarterly earnings press release for Navios Maritime Partners LP NMM is linked above. NMM continues to run a painless operation for the income investor. The company’s business model has all of the vessels leased in at abou $12k per day and leased out at an average of about $26k [...]
Navios Maritime Partners increases dividend