reports
DSV, 1112 - MANAGER’S TRANSACTIONS IN DSV AS SHARES
DSV, 1112 - MANAGER’S TRANSACTIONS IN DSV AS SHARES Company Announcement No. 1112 DSV A/S hereby provides notification pursuant to article 19 of regulation (EU) no. 596/2014 of the below transactions related to shares in DSV A/S made by a manager. Any questions may be addressed to Investor Relations, Sebastian Rosborg, tel. . Yours sincerely,DSV A/S Attachment
- Jørgen Lian
Flex LNG Minor model adjustments
We have updated our estimates to factor in the Q1 results, the updated guidance, and recent market developments. We still believe Flex LNG is well-placed to navigate what we expect to be a soft freight market near-term and maintain its USD0.75 DPS, for a 10% run-rate yield. Additionally, we see potential upside to rates on new contracts due to elevated and sticky newbuild prices, implying a parity rate above USD100k/day, compared with our average fleet-wide TCE of cUSD80k/day for 2024–2026e. We ...
- Jørgen Lian
Golden Ocean (Sell, TP: NOK140.00) - Mounting downside risk
We believe buyside expectations are founded on lasting extraordinary factors that are inflating dry bulk shipping demand by 10%+. However, we expect a reversal on flailing fundamental demand and current tailwinds normalising. This should leave the market wary of elevated asset values propping up NAVs on which equities are trading at a premium, as current 12-month charter rates suggest a yield of just 9% for Golden Ocean. We reiterate our SELL and NOK140 target price.
Avance Gas Holding Ltd: Ex cash distribution USD 2.15 today
Avance Gas Holding Ltd: Ex cash distribution USD 2.15 today Hamilton, Bermuda, May 23, 2024 The shares in Avance Gas Holding Ltd (ticker: "AGAS") will be traded ex cash distribution of USD 2.15 per share as of today. The cash distribution of USD 2.15 consists of USD 0.99 in return of capital and USD 1.16 in dividend for the first quarter of 2024. The return of capital and dividend will be paid on May 31, 2024. For further information, please contact: Randi Navdal Bekkelund - Chief Financial Officer Tel: Email: ...
GOGL – Q1 2024 Presentation
GOGL – Q1 2024 Presentation Please find enclosed the presentation of Golden Ocean Group Limited’s first quarter 2024 results for today’s webcast / conference call at 15:00 CEST. Attend by Webcast: Use the follow link prior to the webcast: Attend by Conference Call: Participants will need to register online prior to the conference call via the link below. Dial-in details will be available when registered. A Q&A session will be held after the conference call/webcast. Information on how to submit questions will be given at the beginning of the session. The ...
GOGL – First Quarter 2024 Results
GOGL – First Quarter 2024 Results Golden Ocean Group Limited (NASDAQ/OSE: GOGL) (the “Company” or “Golden Ocean”), the world's largest listed owner of large size dry bulk vessels, today announced its unaudited results for the quarter ended March 31, 2024. Highlights Net income of $65.4 million and earnings per share of $0.33 (basic) for the first quarter of 2024, compared with net income of $57.5 million and earnings per share of $0.29 (basic) for the fourth quarter of 2023.Adjusted EBITDA of $114.3 million for the first quarter of 2024, compared with $123.2 mill...
Okeanis Eco Tankers Corp. – New Financings Update
Okeanis Eco Tankers Corp. – New Financings Update ATHENS, Greece, May 21, 2024 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (“we”, the “Company”, “OET” or “Okeanis”) (NYSE:ECO / OSE:OET) is pleased to announce the following financings update relating to its fleet. On May 20, 2024, we entered into a new $60.0 million senior secured credit facility to refinance the Company’s existing facility secured over the VLCC vessel Nissos Kythnos and for general corporate purposes (the “Nissos Kythnos New Facility”). The Nissos Kythnos New Facility is provided by Danish Ship Finance A/S and the tran...
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
New All-Time Highs Validates Our Bullish Outlook We continue to view the latest pullback to the 100-day MA on the S&P 500 as healthy and normal within the ongoing bull market, and our bullish outlook (since early-November 2023) remains intact. Throughout the last week of April, we discussed the possibility that further downside was limited (4/23/24 Compass) and the mounting evidence that led us to believe the lows were likely in for this pullback (4/30/24 Compass). Market dynamics remain health...
MATX MATSON INC.
EURN EURONAV NV
DHT DHT HOLDINGS INC.
ASC ARDMORE SHIPPING
SBL SAFE BULKERS INC.
NVGS NAVIGATOR HOLDINGS
LPG DORIAN LPG
DSX DIANA SHIPPING INC.
LCM COSTAMARE INC.
TK TEEKAY CORPORATION
SBLK STAR BULK CARRIERS CORP.
G2O GOLAR LNG LIMITED
GOGLO GOLDEN OCEAN GROUP LTD
CENX CENTURY ALUMINUM COMPANY
GATX GATX CORPORATION
KEX KIRBY CORPORATION
WAB WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION
OSG OVERSEAS SHIPHOLDING GROUP
AA ALCOA CORPORATION
INSW INTERNATIONAL SEAWAYS INC.
NOHA NORSK HYDRO ASA ADS
AWCMY ALUMINA LTD ADS
RTP. RIO TINTO PLC CEDEAR
STNG SCORPIO TANKERS INC.
NMM NAVIOS MARITIME PARTNERS
GSL GLOBAL SHIP LEASE INC. CLASS A
SFL SFL CORPORATION LIMITED
TNK TEEKAY TANKERS
CSTM CONSTELLIUM SE CLASS A
TNP TSAKOS ENERGY NAVIGATION LTD.
FRO FRONTLINE PLC
HSHP HIMALAYA SHIPPING LTD.
HWM HOWMET AEROSPACE INC COM
GBX GREENBRIER COMPANIES INC COM
FSTR L B FOSTER CO COM
DSV, 1111 - SHARE BUYBACK IN DSV A/S
DSV, 1111 - SHARE BUYBACK IN DSV A/S Company Announcement No. 1111 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save fo...
- Jørgen Lian
Navigating a near-term lull
We expect a daunting orderbook to dent freight markets in the coming years, before the next wave of LNG export projects returning the market to healthy levels. Our BUYs on the LNGC names we cover reflect earnings visibility and attractive long-term rates underpinned by high newbuild prices, as we see the potential for a re-rating on still-building backlogs towards a brighter long-term future.
DSV, 1110 - MAJOR SHAREHOLDER ANNOUNCEMENT
DSV, 1110 - MAJOR SHAREHOLDER ANNOUNCEMENT Company Announcement No. 1110 Pursuant to section 30 of the Danish Capital Markets Act it is announced that BlackRock, Inc. has informed DSV A/S that the total shares according to section 38 of the Danish Capital Markets Act, and other financial instruments according to section 39(2) of the Danish Capital Markets Act of DSV A/S held by BlackRock, Inc. as of 14 May 2024 correspond to below 5% of the entire share capital and below 5% of the voting rights of DSV A/S. ContactsInvestor Relations: Sebastian Rosborg, tel. , Yours sincerely,DSV ...
- Jørgen Lian
DHT Holdings (Buy, TP: USD14.50) - Potential supporting momentum
VLCC index rates have been hovering steadily around USD40k/day since October, while the market eagerly anticipates the spark that could ignite a prolonged upcycle based on absent fleet-growth prospects for the next two-three years. We believe DHT still represents favourable exposure to a boom with potential dayrates of cUSD100k pegging valuation at 3x P/E. We reiterate our BUY, and have raised our target price to USD14.5 (12.7).
DSV, 1109 - MAJOR SHAREHOLDER ANNOUNCEMENT
DSV, 1109 - MAJOR SHAREHOLDER ANNOUNCEMENT Company Announcement No. 1109 Pursuant to section 30 of the Danish Capital Markets Act it is announced that BlackRock, Inc. has informed DSV A/S that BlackRock, Inc. as of 13 May 2024 has decreased its holding of shares/voting rights and of other financial instruments acc. to section 39(2) of the Danish Capital Markets in DSV A/S as follows: Share capital and voting rightsHolding in DSV A/S previouslyHolding in DSV A/S as of 13 May 2024Share capital and voting rights attached to shares in %5.30%4.98%Share capital and voting rights through financia...
- Jørgen Lian
Avance Gas (Hold, TP: NOK194.00) - Solid outlook being priced in
US production up 9% YOY since March has supported inventories and the arbitrage (currently implying cUSD95k/day rate). With current production levels, and VLGC deliveries to slow, we see an attractive earnings outlook backed by the FFA of USD70k/day for H2e. However, the LPG growth has outpaced crude oil (up 3%) and natural gas (up 0.5%) in the same period and EIA suggests it is set to decline. Still, we estimate total DPS of NOK30 in the next four quarters (18% of the current share price exclud...
Okeanis Eco Tankers Corp. – Key Information relating to Q1 2024 divid...
Okeanis Eco Tankers Corp. – Key Information relating to Q1 2024 dividend ATHENS, Greece, May 16, 2024 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (“OET” or the “Company”) (NYSE: ECO / OSE: OET), announced today that the Company's board of directors (the “Board”) has declared a dividend on its common shares, which is classified as a return of capital for accounting purposes (the “Dividend”). Due to implementation of the Central Securities Depository Regulation (“CSDR”) in Norway, shareholders who hold shares registered in Euronext Securities Oslo, the central securities depository in N...
Okeanis Eco Tankers Corp. – Unaudited Condensed Financial Statements f...
Okeanis Eco Tankers Corp. – Unaudited Condensed Financial Statements for the First Quarter and Three-Month Period of 2024 ATHENS, Greece, May 16, 2024 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (the “Company” or “OET” or “Okeanis”) (NYSE:ECO / OSE:OET), today reported unaudited condensed financial statements for the first quarter and three-month period of 2024, which are to this press release. Selected Q1 2024 and Recent Highlights: Time charter equivalent ("TCE", a non-IFRS measure*) revenue and Adjusted EBITDA (a non-IFRS measure*) of $81.0 million and $65.2 million, respecti...
Lucas Vos to step down as President, Stolt Tankers
Lucas Vos to step down as President, Stolt Tankers LONDON, May 15, 2024 – Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that Lucas Vos will step down as President, Stolt Tankers, with effect from July 1, 2024. He will be replaced by Maren Schroeder as President and Chief Operating Officer, whilst Bjarke Nissen will assume the role of Chief Commercial Officer at Stolt Tankers. Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited, commented: “The appointment of Maren Schroeder and Bjarke Nissen to these key roles illustrates the impressive talent that we have on hand. They ar...
Avance Gas Holding Ltd: Key information relating to return of capital ...
Avance Gas Holding Ltd: Key information relating to return of capital and dividend for the first quarter 2024 Bermuda, May 15, 2024 Key information relating to return of capital and dividend to be paid by Avance Gas Holding Ltd. for the first quarter 2024 is specified as per below. The distribution of return of capital will be made from the Company’s Contributed Surplus account which consists of previously paid in share premium transferred from the Company’s Share Premium account. Return of capital: $0.99 Dividend amount: $1.16 Declared currency: USD Last day including right: May 22, 20...
Avance Gas Holding Ltd: First Quarter 2024 Earnings Release
Avance Gas Holding Ltd: First Quarter 2024 Earnings Release BERMUDA, May 15, 2024 – Avance Gas Holding Ltd (OSE: AGAS) (“Avance Gas” or the “Company”) today reports unaudited results for the first quarter 2024. HIGHLIGHTS The average time charter equivalent (TCE) rate basis discharge-to-discharge was $60,900/day, compared to $76,200/day for the fourth quarter 2023.TCE/day on load-to-discharge basis was $78,800/day compared to $71,900/day for the fourth quarter 2023. Adjustment related to load-to-discharge was positive $21 million or $17,900/day ...
DHT Holdings, Inc. First Quarter 2024 Results
DHT Holdings, Inc. First Quarter 2024 Results HAMILTON, BERMUDA, May 14, 2024 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announced its results for the quarter ended March 31, 2024. The full report is available and in the below attachment. About DHT Holdings, Inc.DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experience...
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