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 PRESS RELEASE

DHT Holdings, Inc. to announce first quarter 2024 results on Tuesday, ...

DHT Holdings, Inc. to announce first quarter 2024 results on Tuesday, May 14, 2024. HAMILTON, BERMUDA, May 3, 2024 - DHT Holdings, Inc. (NYSE: DHT or the “Company”) will release its first quarter 2024 results after market close on Tuesday, May 14, 2024. The Company will host a conference call and webcast, which will include a slide presentation, at 8:00 a.m. EDT/14:00 CEST on Wednesday, May 15, 2024, to discuss the results for the quarter. To access the conference call the participants are required to register in advance of the conference using this link:   Upon registering, each partici...

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Continued strong demand will make a difference

Surprisingly strong container demand makes a big difference. '24e EBITDA of USD 6.2bn. TP of DKK 12,800 (13,260) – BUY.

 PRESS RELEASE

Avance Gas Holding Ltd: Invitation to Earnings Presentation for the Fi...

Avance Gas Holding Ltd: Invitation to Earnings Presentation for the First Quarter of 2024 Bermuda, May 2, 2024, Avance Gas Holding Ltd. (ticker "AGAS") will on Wednesday May 15, 2024, release its unaudited results for the first quarter of 2024. In connection with the earnings release, an audio webcast and conference call will be held at 14:00 (CEST). The presentation and webcast link will be available from the Investor Relation section at Avance Gas' website  prior the presentation and available by using the following links:  Webcast: -server.com/mmc/p/qwb4tssb Conference call: /regis...

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Better guidance, but within expectations

Q1'24 EBITDA of USD 1,590m (ABGSCe at USD 1,941, cons. at USD 1,604m). Segments - miss for Ocean and Logistics & Services, beat in Terminals and Towage. Lower end of guidance lifted, share slightly up today.

Jørgen Lian
  • Jørgen Lian

Safe Bulkers Minor model adjustments

We have updated our estimates, owing to the Q1 report and its updated contract backlog at healthy rates providing visibility on cash flows for the coming quarters. The market is still pricing Safe Bulkers at c50% of NAV, which screens at a noticeable discount to peers’ average P/NAV of ~0.8x. This, along with its contract portfolio, continues to provide relatively attractive exposure to the dry bulk segment, despite potential downside risk to demand on fundamental drivers in China (importer of ~...

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Are the Lows "In" for this Pullback? While we are not yet out of the woods, we continue to see evidence that suggests the lows may be "in" for this pullback. Last week (4/23/24 Compass) we discussed the possibility that further downside was limited on the S&P 500 due to a multitude of reasons (SPX had simply filled 2/22/24 gap support that we had been discussing since late-February, Russell 2000 and Equal-Weighted S&P 500 were holding above key supports, short-term oversold conditions, subdued ...

 PRESS RELEASE

GOGL – 2024 AGM Results Notification

GOGL – 2024 AGM Results Notification   Golden Ocean Group Limited (the “Company”) advises that the 2024 Annual General Meeting of the Shareholders of the Company was held on April 29, 2024, at 16:30 hrs, at Hamilton Princess and Beach Club, 76 Pitts Bay Road, Hamilton HMCX, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2023 were presented to the Meeting. In addition, the following resolutions were passed: To set the maximum number of Directors to be not more than eight.To resolve that vacancies in the number of Directors be d...

 PRESS RELEASE

Safe Bulkers, Inc. Reports First Quarter 2024 Results and Declares Div...

Safe Bulkers, Inc. Reports First Quarter 2024 Results and Declares Dividend on Common Stock MONACO, April 29, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three month periods ended March 31, 2024. The Board of Directors of the Company also declared a cash dividend of $0.05 per share of outstanding common stock. Financial highlights    In million U.S. Dollars except per share dataQ1 2024Q4 2023Q3 2023Q2 2023Q1 2023Net revenues81.782...

 PRESS RELEASE

Avance Gas Holding Ltd: 2024 AGM Results Notification

Avance Gas Holding Ltd: 2024 AGM Results Notification Avance Gas Holding Ltd (the “Company”) advises that the 2024 Annual General Meeting of the Shareholders of the Company was held on April 29, 2024, at 14:45 hrs, at Hamilton Princess and Beach Club, 76 Pitts Bay Road, Hamilton HMCX, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2023 were presented to the Meeting. In addition, the following resolutions were passed: 1.        To set the maximum number of Directors to be not more than eight. 2.        To resolve that vacancies...

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Too cheap with near-term earnings upside

Underlying demand much better than expected. Guidance upgrade likely - ABGSCe '24 EBITDA +20% vs. cons.. TP of DKK 13,260 (10,700) – BUY (Hold).

Jørgen Lian
  • Jørgen Lian

A. P. Møller Mærsk (Sell, TP: DKK9600.00) - Loose ends into Q1 results

There is a substantial discrepancy between container liners’ reported and guided revenue for Q1, as the impacts of the Red Sea disruption and resurgent freight rates are revealed. Near-term consensus could be too low, but the 2025–2026 outlook is set to be much worse than the market believes. We reiterate our SELL, but have raised our target price to DKK9,600 (9,500).

 PRESS RELEASE

FRO – Filing of Annual Report

FRO – Filing of Annual Report Frontline plc (the “Company”) announces the filing of its annual report for the year ended December 31, 2023. The annual report can be downloaded from the Company’s website or from the link below. Additionally, shareholders can request a hard copy of our complete audited financial statements free of charge by writing to us at:John Kennedy   8 Iris Building, 7th floor, Flat/Office 740B, 3106, Limassol, Cyprus. or sending an e-mail to April 26, 2024 Frontline plc Limassol, Cyprus. ...

Jørgen Lian
  • Jørgen Lian

Safe Bulkers (Buy, TP: USD5.70) - Still discounted dry bulk exposure

The market is pricing Safe Bulkers at a ~50% discount to NAV, which we believe mitigates any potential vessel value risk and leaves a still-favourable risk/reward towards the dry bulk supply-side narrative. However, we find the recent dry bulk freight market strength counter to fundamental demand drivers in China (importer of ~75% of seaborne iron ore volumes and ~50% of overall volumes), and see some market downside risk near-term. Still, at today’s share price, we see an attractive 17% earning...

 PRESS RELEASE

Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Newb...

Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Newbuild Japanese Kamsarmax Class Dry-bulk Vessel MONACO, April 26, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has entered into an agreement for the acquisition of a Japanese, 82,000 dwt, dry-bulk, Kamsarmax class vessel, with a scheduled delivery date within the fourth quarter of 2026. The newbuild vessel is designed to meet the Phase 3 requirements of Energy Efficiency Design Index related to the reduct...

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Trading reset implies upside

Minor short-term adjustments, applying our newest dry bulk outlook. '25e EBITDA of USD 716m, cons. at USD 601m. TP DKK 459 (412) – P/SOP 0.71x.

 PRESS RELEASE

Golar LNG Limited – Q1 2024 results presentation

Golar LNG Limited – Q1 2024 results presentation Golar LNG's 1st Quarter 2024 results will be released before the NASDAQ opens on Tuesday, May 28, 2024. In connection with this a webcast presentation will be held at 1:00 P.M (London Time) on Tuesday May 28, 2024. The presentation will be available to download from the Investor Relations section at We recommend that participants join the conference call via the listen-only live webcast link provided. Sell-side analysts interested in raising a question during the Q&A session that will immediately follow the presentation should access the ev...

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

"Unexpectedly strong" dry bulk market

Adj. net profit of USD 7m (ABGSCe 53m, cons 62m) .FY'24 guidance reiterated, adds six capesizes. Weak share price reaction warranted.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Dry bulk: It's the fleet growth, stupid!

Rates have now appreciated, but new orders have not followed, and low fleet growth is enough for continued optimism.

 PRESS RELEASE

Safe Bulkers, Inc. Sets Date for the First Quarter 2024 Results, Confe...

Safe Bulkers, Inc. Sets Date for the First Quarter 2024 Results, Conference Call, and Webcast Earnings Release: Monday, April 29, 2024, After Market Closes Conference Call and Webcast: Tuesday, April 30, 2024, at 10:00 A.M. Eastern Time MONACO, April 24, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it will release its results for the first quarter ended March 31, 2024, after the market closes in New York on Monday, April 29, 2024. On Tuesday, April 30, 2024, at...

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