Category Archives: Featured
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 [...]
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 [...]
Also posted in Dry Bulk, Mixed Leave a comment
Shipping stocks year-to-date
Time to get back to regular writing for this site. Thought I would start slowly with a quick update of how the shipping stocks I track have done so far in 2009. Currently there are 41 stock total on the list and I track their returns on an equal dollar weighted basis and the total [...]
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Interesting news from Nordic American Tanker
A letter out today from Herbjorn Hansson, CEO of Nordic American Tanker NAT is my excuse to get back to writing articles for this site. Sorry about the time off. Most of the letter just reiterates NAT’s position on no debt, stable finances and low overhead and per day break even. For those of us [...]
Figuring out stock price movement
I received this note in an email:
I listened to the Seaspan investor conference this morning and came away thinking that, as I have for some time, here is a well run company in a tough sector and tough times. I was surprised to see the stock take a drubbing this morning…now down sixty cents or [...]
Quality of Dividends, Part VII
I need to finish this series off before it starts looking like the Super Bowl listings. Only 7 more stocks to cover so I should be able to get them done in a couple of posts. Here is the next bunch:
Star Bulk Carriers has been hard on dividend investors over the last year. After starting [...]
Quality of Dividends, Part VI
With earning season for the shipping stocks starting next week, I thought I should get through my review of dividend paying shipping stocks. So I will try to finish them up in the next few days.
Safe Bulkers Inc. SB has this on their website concerning the dividend policy:
We paid our first quarterly dividend as a [...]
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Quality of Dividends, Part V
Once again I will continue working my way through my list of dividend paying shipping stocks. The purpose of these articles is to give you an idea of the amount and stability of the distributions of these companies. I am going through the list in alphabetical order:
OSG America L.P. OSP is a U.S. flagged transporter [...]
Nordic American Tanker results video