reports
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
ABGSC Shipping Daily 28 November
Mixed tanker and dry bulk markets, LPG down, Shipping peer group trades at P/NAV 0.71x, Tanker spot rates down, seasonality not working, risk of Red Sea reopening, Dry bulk fundamentals remain solid, while Chinese steel demand also remains a worry, FRO Q3 review: No seasonal upswing cuts estimates,
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- Jørgen Lian
Hafnia Minor model adjustments
We have updated our estimates owing to the Q3 report and Q4 guidance. Hence, we have raised our 2024e EBITDA by 1%, while we have lowered our 2025–2026e by 2–1%. We continue to be positive on the tanker space, and forecast an 18–19% earnings yield for 2025–2026. Combined with its LTV now being below the 20% threshold for a 90% payout ratio, this should bode well for capital returns through dividends and/or accretive buybacks (we estimate a P/NAV of 0.7x). We do not consider these changes to be m...
FRO – Q3 2024 Presentation
FRO – Q3 2024 Presentation Please find enclosed the presentation of Frontline plc´s third quarter 2024 results to be held on the webcast / conference call 27 November, 2024 at 15:00 CET. This information is subject to the disclosure requirements pursuant to section 5 – 12 of the Norwegian Securities Trading Act Attachment
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- Jørgen Lian
MPC Container Ships (Sell, TP: NOK18.60) - Firm backlog, too-high valu...
We believe the container market is set for a prolonged downturn on 30%+ supply growth since 2019, hardly offset by sub-10% volume growth, and with a 25% orderbook-to-fleet ratio ahead, inevitably hitting charter appetite and rates. While upside potential exists from monetising asset values, given our NOK33/share NAV, we struggle to defend the valuation and believe the risk is skewed to the downside. We reiterate our SELL, but have raised our target price to NOK18.6 (18.2).
FRO – Third Quarter and Nine Months 2024 Results
FRO – Third Quarter and Nine Months 2024 Results FRONTLINE PLC REPORTS RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2024 Frontline plc (the “Company”, “Frontline,” “we,” “us,” or “our”), today reported unaudited results for the three and nine months ended September 30, 2024: Highlights Profit of $60.5 million, or $0.27 per share for the third quarter of 2024.Adjusted profit of $75.4 million, or $0.34 per share for the third quarter of 2024.Declared a cash dividend of $0.34 per share for the third quarter of 2024.Reported revenues of $490.3 million for the third quarter of 2024.Ach...
Avance Gas Holding Ltd: Key information relating to the dividend for t...
Avance Gas Holding Ltd: Key information relating to the dividend for the third quarter 2024 Hamilton, Bermuda. November 27, 2024 Key information relating to the dividend to be paid by Avance Gas Holding Ltd. for the third quarter 2024: Dividend amount: $3.50Declared currency: USDLast day including right: December 9, 2024Ex-date: December 10, 2024Record date: December 11, 2024Payment date: December 23, 2024Date of Approval: November 26, 2024 For further queries, please contact: Randi Navdal Bekkelund, CFO Email: Tel: This information is subject to the disclosure requirements pursu...
Avance Gas Holding Ltd: Third Quarter 2024 Earnings Release
Avance Gas Holding Ltd: Third Quarter 2024 Earnings Release Hamilton, Bermuda. November 27, 2024 - Avance Gas Holding Ltd (OSE: AGAS) ("Avance Gas" or the "Company") today reports unaudited results for the third quarter 2024. HIGHLIGHTS The average Time Charter Equivalent (TCE) rate on a discharge-to-discharge basis was $38,700/day, compared to $50,100/day in the second quarter of 2024. For reference our guidance was 79% of days booked at $41,400/day.TCE/day on a load-to-discharge basis was $41,900/day, compared to $46,700/day in the second quarter of 2024. For the third quarter, we had...
Avance Gas Holding Ltd: Successfully completed the fourth VLGC deliver...
Avance Gas Holding Ltd: Successfully completed the fourth VLGC delivery to BW LPG Hamilton, Bermuda. November 22, 2024 Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd (“BW LPG” or “Buyer”) for $1,050 million. Today Avance Gas announces the fourth VLGC delivery, the 2015-built scrubber-fitted vessel, Passat. In connection with the delivery, 1.35 million shares in BW LPG were issued by the Buyer to Avance Gas. The ship mortgage has been repaid and Avance Gas expects to receive n...
FRO – Invitation to Q3 2024 Results Conference Call and Webcast
FRO – Invitation to Q3 2024 Results Conference Call and Webcast Frontline plc.’s preliminary third quarter 2024 results will be released on Wednesday November 27, 2024, and a webcast and conference call will be held at 3:00 p.m. CET (9:00 a.m. U.S. Eastern Time). The results presentation will be available for download from the Investor Relations section at ahead of the conference call. In order to attend the conference call you may do one of the following: a. WebcastGo to the Investor Relations section at and follow the “Webcast” link, or access directly from the link below. b. Confe...
Avance Gas Holding Ltd: Successfully completed the third VLGC delivery...
Avance Gas Holding Ltd: Successfully completed the third VLGC delivery to BW LPG Hamilton, Bermuda. November 21, 2024 Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd (“BW LPG” or “Buyer”) for $1,050 million. Today Avance Gas announces the third VLGC delivery, the 2015-built scrubber-fitted vessel, Sirocco. In connection with the delivery, 1.35 million shares in BW LPG were issued by the Buyer to Avance Gas. The ship mortgage has been repaid and Avance Gas expects to receive ne...
Avance Gas Holding Ltd: Successfully completed the second VLGC deliver...
Avance Gas Holding Ltd: Successfully completed the second VLGC delivery to BW LPG Hamilton, Bermuda. November 20, 2024 Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refer to the announcement on August 15, 2024, to sell its VLGC fleet to BW LPG Ltd (“Buyer”) for $1,050 million. On November 1, 2024, the Company announced the first VLGC delivery, and today Avance Gas announce the second VLGC delivery, the 2022-built dual-fuel ship Avance Capella. Avance Capella was under a sale leaseback agreement, which has been successfully novated to the Buyer. As a part of the transactio...
Avance Gas Holding Ltd: Invitation to Earnings Presentation for the Th...
Avance Gas Holding Ltd: Invitation to Earnings Presentation for the Third Quarter of 2024 Bermuda, November 19, 2024, Avance Gas Holding Ltd. (ticker "AGAS") will on Wednesday November 27, 2024, release its unaudited results for the third 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/j6q2r66p Conference call:...
FRO – Notice of Annual General Meeting 2024
FRO – Notice of Annual General Meeting 2024 Frontline plc (the “Company”) announces that its 2024 Annual General Meeting will be held on December 12, 2024. A copy of the Notice of Annual General Meeting and associated information including the Company’s Annual Report on Form 20-F for 2023 can be found on our website at and attached to this press release. November 14, 2024Limassol, Cyprus This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachments ...
- Patrik Ling
Vicore Pharma (Buy, TP: SEK38.00) - ASPIRE now recruiting
The Q3 report was a non-event, but most importantly, the company initiated the phase IIb trial ASPIRE in patients with IPF in September. After quarter-end, it executed a capital increase, raising cSEK882m (before costs), which combined with cash at end-Q3 should take it to ASPIRE data read-out. We reiterate our BUY and SEK38 target price.
- ABGSC Renewable Energy Research
- Adrian Gilani
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Stian Wibstad
ORSTED ORSTED
HEX HEXAGON COMPOSITES ASA
NEL NEL ASA
SSO SCATEC ASA
EOLU B EOLUS VIND AB
FKRFT FJORDKRAFT HOLDING ASA
CADLR CADELER
VOLUE VOLUE AS
A2QKGG HEXAGON PURUS
ZAP ZAPTEC
VWS VESTAS WIND SYSTEMS
EWIND EDDA WIND ASA
TOM TOMRA SYSTEMS ASA
IWS-NO INTEGRATED WIND SOLUTIONS
OX2-SE OX2
- ABGSC Healthcare Research
- Alexander Krämer
- ABGSC Healthcare Research
- Alexander Krämer
- Oscar Haffen Lamm
Vicore Pharma: Time to execute on the phase 2b
Vicore Pharma reported its Q3'24 result with i) a cash position at SEK380.4m (excl. SEK882m capital increase), ii) EBIT SEK(60.1m), and iii) operating expenses at SEK61.3m. Moving into the Q4, the main priority will be to continue to activate clinical sites and enroll patients in the phase 2b ASPIR
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