Star Bulk Carriers

Star Bulk Carriers is an international company providing worldwide transportation solutions in the drybulk sector through its vessels-owning subsidiaries for a range of customers of major and minor bulk cargoes including iron ore, coal, grain, cement, fertilizer, along worldwide shipping routes. As of Dec 31 2016, Co. owned and operated a fleet of 73 vessels consisting primarily of Newcastlemax, Capesize as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 dwt and 209,537 dwt. Co.'s vessels transport a range of major and minor bulk commodities, including ores, coal, grains and fertilizers, along worldwide shipping routes.
  • TickerSBLK
  • ISINMHY8162K2046
  • ExchangeNASDAQ Stock Market
  • SectorIndustrial Transportation
  • CountryGreece
Jørgen Lian

Financing 2°C Shipping - Financial risk of future regulations

We have worked with KLP and other partners in the Green Shipping Programme to assess the risk for financial stakeholders in various shipping technologies within the VLCC, Capesize and 10k TEU container segments. We find: 1) relative attractiveness of short-dated assets with scrubbers; 2) high uncertainty among newbuild alternatives in an uncertain regulatory environment; 3) that current IMO targets seem within reach in our base case; and 4) that further tightening of regulations is needed to align shipping with the Paris Agreement. We find the current outlook favours LNG-fuelled vessels for ne...

Jørgen Lian

Star Bulk (Buy, TP: USD24.30) - Set for double-digit dividend yield

We have made only minor changes to our estimates following the Q1 results – for the most part to incorporate slightly higher vessel opex and the updated dividend policy, which has reduced the minimum cash balance per vessel for 2021. We reiterate our BUY but have lifted our target price to USD24.3 (21.1), as we now calculate a double-digit dividend yield throughout our forecast period.

Jørgen Lian

Star Bulk (Buy, TP: USD21.10) - Set for strong Q2

We have updated our estimates on the strong market recently and Star Bulk’s vessel acquisitions, raising our 2021e EBITDA by 25%. YTD, demand has been driven by China, with thermal electricity generation outpacing domestic production, while iron ore shipments remain solid. We find the relative cost of freight supportive of TCE freight rates and expect Star Bulk’s Q2 rates to better reflect the underlying market strength. We reiterate our BUY and have lifted our target price to USD21.1 (15.2).

For STAR BULK CARRIERS, the environment deterioration entails a downgrade to Neutral

STAR BULK CARRIERS (US), a company active in the Marine Transportation industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 3 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date April 9, 2021, the closing price was USD 14.77 and its expected value was estimated at USD 14.16.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Short Shots: Technically Vulnerable Stocks

Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Semiconductors, Transportation improving The S&P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&P 500 higher in terms of RS are Technology, Services, Facebook (FB), Amazon (AMZN), and Procter & Gamble (PG). If this were a bull market, (1) PG would likely NOT be listed here as leadership, and (2) we would expect to see participation broaden out to Discretionary (RCD), Transportation (IYT), banks (KBE), Industrials (XLI), and small-caps (IWM). All of these areas are still consolidating below meaningful resistance, and we cont...

Jørgen Lian

Financing 2°C Shipping - Financial risk of future regulations

We have worked with KLP and other partners in the Green Shipping Programme to assess the risk for financial stakeholders in various shipping technologies within the VLCC, Capesize and 10k TEU container segments. We find: 1) relative attractiveness of short-dated assets with scrubbers; 2) high uncertainty among newbuild alternatives in an uncertain regulatory environment; 3) that current IMO targets seem within reach in our base case; and 4) that further tightening of regulations is needed to align shipping with the Paris Agreement. We find the current outlook favours LNG-fuelled vessels for ne...

Jørgen Lian

Star Bulk (Buy, TP: USD24.30) - Set for double-digit dividend yield

We have made only minor changes to our estimates following the Q1 results – for the most part to incorporate slightly higher vessel opex and the updated dividend policy, which has reduced the minimum cash balance per vessel for 2021. We reiterate our BUY but have lifted our target price to USD24.3 (21.1), as we now calculate a double-digit dividend yield throughout our forecast period.

Jørgen Lian

Star Bulk (Buy, TP: USD21.10) - Set for strong Q2

We have updated our estimates on the strong market recently and Star Bulk’s vessel acquisitions, raising our 2021e EBITDA by 25%. YTD, demand has been driven by China, with thermal electricity generation outpacing domestic production, while iron ore shipments remain solid. We find the relative cost of freight supportive of TCE freight rates and expect Star Bulk’s Q2 rates to better reflect the underlying market strength. We reiterate our BUY and have lifted our target price to USD21.1 (15.2).

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Upgrading Transports & Manufacturing To Overweight The S&P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM) all managed to break above their respective resistance levels which we highlighted in last week's Compass, and both the S&P 500 and Russell 2000 closed yesterday at all-time highs. Considering these new price highs, and ongoing market dynamics which remain largely positive, we expect higher prices ahead and recommend adding exposure on pullbacks. · S&P 500, Nasdaq 100, Russell 2000. The S&P 500 broke above its symmetrical triangle pattern and prior resistance, which is now support...

Jørgen Lian

DNB Markets Shipping Conference: Decarbonisation takes centre stage

DNB’s 14th annual Energy & Shipping Conference culminated in yesterday’s shipping day. The main theme was decarbonisation of shipping, and its market impact today. Attendees included representatives from IMO and Trafigura, along with several shipping companies taking action towards ambitious decarbonisation targets. Also, the crude tanker and LPG panels both proved rather optimistic despite recent market lows.

Alexander Aukner ...
  • Jesper Ingildsen
  • Joachim Gunell
  • Jørgen Lian
  • Mats Bye
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen

Northern Lights

Jørgen Lian ...
  • Ole-Andreas Krohn

Northern Lights

Nicolay Dyvik ...
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Mats Bye ...
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

For STAR BULK CARRIERS, the environment deterioration entails a downgrade to Neutral

STAR BULK CARRIERS (US), a company active in the Marine Transportation industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 3 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date April 9, 2021, the closing price was USD 14.77 and its expected value was estimated at USD 14.16.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

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