reports
- Jørgen Lian
Star Bulk (Hold, TP: USD20.20) - Coming challenges mostly priced in
We still see downward pressure on rates and asset values due to the imbalance between China’s underlying raw materials demand and its imports. On our 2025e spot rates and historical valuation multiples, we see 23% downside risk to current 5-year-old Capesize values, and even more for its Supramaxes. Still, we find the share price should be covered even in the event of a 25% drop in asset values. Hence, we have upgraded to HOLD (SELL) and raised our target price to USD20.2 (19.3).
Star Bulk Carriers Corp. Reports Net Profit of $81.3 Million for the T...
Star Bulk Carriers Corp. Reports Net Profit of $81.3 Million for the Third Quarter of 2024, and Declares Quarterly Dividend of $0.60 per Share ATHENS, Greece, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the third quarter of 2024. Unless otherwise indicated or unless the context requires otherwise, all references in this press release to "we," "us," "our," or similar references, mean Sta...
GOGL – Invitation to presentation of Q3 2024 Results
GOGL – Invitation to presentation of Q3 2024 Results Golden Ocean Group Limited (the “Company”) will publish its financial results for the third quarter of 2024 on Wednesday November 27, 2024. In connection with the release, a conference call and webcast will be held as described below: Conference call and webcastA conference call will be held at 2:30 P.M. CET (8:30 A.M. New York Time) on Wednesday November 27, 2024. The presentation will be available for download from the Investor Relations section at (under "Presentations") prior to the conference call/webcast. In order to listen to t...
Safe Bulkers, Inc. Announces a Five Million Shares of Common Stock Rep...
Safe Bulkers, Inc. Announces a Five Million Shares of Common Stock Repurchase Program MONACO, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has authorized a program under which it may from time to time in the future purchase up to 5,000,000 shares of the Company’s common stock. If the maximum number of shares of the Company’s common stock are purchased pursuant to the aforementioned program, it would represent approximately 4.7% of the shares of the Company’s commo...
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Safe Bulkers, Inc. Reports Third Quarter 2024 Results and Declares Div...
Safe Bulkers, Inc. Reports Third Quarter 2024 Results and Declares Dividend on Common Stock MONACO, Nov. 13, 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 and nine month periods ended September 30, 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 dataQ3 2024Q2 2024Q1 2024Q4 2023Q3 2023Nine Months ...
- Jørgen Lian
2020 Bulkers Minor model adjustments
We have updated our estimates following the Q3 results and latest business update. We continue to see significant risk to what we view as an imbalance between China’s excessive raw material imports and its underlying demand, showcased by ~5% growth in iron ore imports YTD being met by rapidly growing steel exports, with October up 41% YOY, while coal inventories are setting new highs. Bottom line, all else being equal, we calculate the current NAV/share would drop from NOK151 to NOK119 by applyi...
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- Jørgen Lian
Genco Shipping & Trading (Hold, TP: USD17.60) - Solid, but no escaping...
Our cautious view on dry bulk is somewhat offset by Genco’s favourable risk profile, with low financial leverage and a sizeable discount to underlying asset values at an EV/GAV of 0.63x. However, we struggle to see any positive share-price triggers near- to medium-term, but do see material downside risk to asset valuations decoupling from underlying rates. Hence, we reiterate our HOLD and have lowered our target price to USD17.6 (17.8).
- Jørgen Lian
Himalaya Shipping (Sell, TP: NOK64.00) - On shaky ground into 2025e
We remain sceptical on the longevity of dry bulk shipping demand. We believe the clear imbalance between China’s apparent raw materials demand versus its actual imports poses a considerable risk to the dry bulk investment case, and expect the ensuing correction in freight markets to deteriorate asset value support. Hence, we reiterate our SELL and have trimmed our target price to NOK64 (65).
Safe Bulkers, Inc. Sets Date for the Third Quarter 2024 Results, Confe...
Safe Bulkers, Inc. Sets Date for the Third Quarter 2024 Results, Conference Call, and Webcast Earnings Release: Wednesday, November 13, 2024, After Market Closes Conference Call and Webcast: Thursday, November 14, 2024, at 9:00 A.M. Eastern Time MONACO, Nov. 07, 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 third quarter ended September 30, 2024, after the market closes in New York on Wednesday, November 13, 2024. On Thursday, November 14...
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Star Bulk Announces Date for the Release of Third Quarter Ended Septem...
Star Bulk Announces Date for the Release of Third Quarter Ended September 30, 2024 Results, Conference Call and Webcast ATHENS, Greece, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK) today announced that it will release its results for the third quarter ended September 30, 2024, after the market closes in New York on Tuesday, November 19, 2024. Star Bulk's management team will host a conference call to discuss the Company's financial results on Wednesday, November 20, 2024 at 11:00 a.m. Eastern Time (ET). Conference Call details: ...
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Safe Bulkers, Inc. Declares Quarterly Dividend on its 8.00% Series C C...
Safe Bulkers, Inc. Declares Quarterly Dividend on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares; 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares MONACO, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that the Company's Board of Directors has declared: a cash dividend of $0.50 per share on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Shares”) (NYSE: SB.PR.C) for the period from July 30, ...
GOGL – Renewal of share buy-back program
GOGL – Renewal of share buy-back program Reference is made to the announcement by the Board of Directors in Golden Ocean Group Limited (OSE/NASDAQ: GOGL) dated 4 October 2022 and 3 October 2023 regarding the establishment and renewal of a share buy-back program. The Company has repurchased a total of 1,507,328 shares under the program for a total consideration of $11,629,758. A total of 741,900 shares have been repurchased at average price of $7.84 per share at Nasdaq and 765,428 shares have been repurchased at an average price of NOK 81.2 at Oslo Stock Exchange. The Board of D...
Safe Bulkers, Inc. Announces Results of 2024 Annual Meeting of Stockho...
Safe Bulkers, Inc. Announces Results of 2024 Annual Meeting of Stockholders MONACO, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced the election of three Class I directors at the Company’s annual meeting of stockholders held in Monaco today. Polys Hajioannou, Ioannis Foteinos and Ole Wikborg were elected Class I directors. The Class I directors were elected to hold office for a term ending at the annual meeting of stockholders in 2027 and until their respective successors have...
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