28629 members and growing – the largest networking group in the maritime industry!

LoginJoin

Sunday, April 21, 2019

Clarksons Platou Securities News

Angeliki Frangou. File Photo: SUNY Maritime College

Navios Maritime Containers files for a $100 million IPO

Monaco-based container ship company Navios Maritime Containers has filed with the SEC to raise up to $100 million in an initial public offering. The information of IPO was originally provided by the IPO investment manager Renaissance Capital. The Navios Holdings company run by Angeliki Frangou was founded in 2017 and booked $69 million in sales for the 12 months ended March 31, 2018. According to the company website: "We are a growth-oriented international owner and operator of containerships.

Photo: GoodBulk Ltd.

GoodBulk Files for a $100 Mln IPO

GoodBulk, an owner and operator of dry bulk vessels, announced that it has filed a registration statement on Form F-1 with the United States Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of its common shares.Morgan Stanley and Credit Suisse are acting as lead book-runners, Clarksons Platou Securities, Evercore ISI, Pareto Securities and UBS Investment Bank are also acting as book-runners, and ABN AMRO is acting as co-manager for…

© John Regan / MarineTraffic.com

Frontline Expects Greater Oil Tanker Demand

Increased scrapping of older oil tankers and the potential for higher output of OPEC crude are likely to boost vessel demand and thus rates, Oslo-listed shipper Frontline said on Thursday.The company reported a first-quarter operating profit of $2.8 million, while analysts in a Reuters poll on average had expected a loss of $13.3 million.Tanker rates are still low, however, and 78 percent of Frontline's very large crude carriers (VLCCs) are covered at a daily $11,600 for the second quarter compared with $14…

© snoopymiff23 / Adobe Stock

Baltic Index Falls to Six-Week Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday to a six-week low as rates across vessel segments fell.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 20 points, or 1.9 percent, at 1,057 points, its lowest since April 17.* The capesize index lost 71 points, or 5.1 percent, to 1,324 points.

© Eugene Sergeev / Adobe Stock

Muted Capesize Activity Weighs on Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the sixth straight session on Tuesday, dragged down by lower demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 40 points, or 3.2 percent, at 1,199 points.The capesize index lost 103 points, or 5.3 percent, at 1,854 points."Capesize average earnings declined to about $13,900 per day due to reduced inquiries on Brazil or China voyages while most of Europe began the week with a religious holiday," analysts

© hdcphoto / Adobe Stock

Baltic Index Down for Fifth Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fifth-straight session on Monday as capesize vessel rates remained weak.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 34 points, or 2.7 percent, at 1,239 points.The capesize index lost 96 points, or 4.7 percent, at 1,957 points."Capesize rates have continued to soften over the last week to about $14,800 per day, partially reflecting an increase in the number of vessels ballasting to Brazil," analysts at ship broker Clarkson

Photo: Star Bulk Carriers Corp

Star Bulk Carriers Acquires Songa Bulk Fleet

Greece-based dry bulk shipping firm Star Bulk Carriers has entered into definitive agreements to acquire 18 dry bulk vessels in two all-share transactions. 15 of the vessels will be acquired from Songa Bulk and three of the vessels will be acquired from Oceanbulk Container Carriers. The consideration for the vessels was determined based on average vessel valuations by independent vessel appraisers. The Company has agreed to issue an aggregate of 13.725 million common and pay $145 million in cash for the acquisition of all of Songa’s 15 modern dry bulk vessels .

© pr2is / Adobe Stock

Dry Bulk: Baltic Index Touches over 4.5 Month High

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday to its highest in over 4-1/2 months, boosted by rising rates for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 33 points, or 2.3 percent, at 1,465 points.The capesize index rose 134 points, or 5.4 percent, to 2,616 points, its highest in four months."Capesize rates continued to demonstrate positive momentum, with average earnings improving," analysts at ship broker Clarksons Platou Securities said.Averag

© NS Photography / Adobe Stock

Baltic Index Hits Three-week High

The Baltic Exchange's main sea freight index climbed 2.6 percent on Wednesday to mark a three-week high, boosted by an increase in activity across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 29 points, or 2.6 percent, to finish at 1,146 points, its highest since Jan. 31. "Sentiment in the dry bulk market is firming up after a return of activity in the Pacific," said analysts at shipbroker Clarksons Platou Securities. The capesize index gained 39 points, or 2.32 percent, to close at 1,717 points.

Aegean to Acquire H.E.C. Europe

Aegean Marine Petroleum Network Inc. announced today that it has entered into a definitive agreement to acquire all of the outstanding share capital of H.E.C. Europe Limited (H.E.C.), the parent company of Hellenic Environmental Center S.A. and a group of companies that together provide global port reception facilities services, from the shareholders of H.E.C., for aggregate consideration of approximately $367 million, including the assumption of certain indebtedness, which consideration is payable in the form of a combination of debt…

© Mike Mareen / Adobe Stock

Capesize Rally Boosts Baltic Index by Nearly 2%

The Baltic Exchange's main sea freight index on Friday marked its best day in over two weeks, led by stronger demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose for the fourth straight day and was up 19 points, or 1.72 percent at 1,125 points. The index logged its biggest one-day percentage gain since Jan. 24. The capesize index gained 128 points, or 7.7 percent, to 1,790 points. With a 22 percent jump, the index saw its best week since the week of Sept.

© NS Photography / Adobe Stock

Baltic Index Posts First Gain in Seven Sessions

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the first time in seven sessions on Tuesday, following a rebound in capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, edged up 13 points, or 1.2 percent, to 1,095 points. The capesize index snapped its five-session losing streak and climbed 86 points, or 6 percent, to 1,519 points. It touched its lowest in more than six months on Monday.

© David Johnson / Adobe Stock

Lower Rates Drag Baltic Index

The Baltic Exchange's main sea freight index fell for the second straight session on Tuesday, weighed down by lower rates across vessel categories. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, was down 23 points, or 1.89 percent, at 1,191 points. The capesize index snapped its five-day winning streak and shed 36 points, or 2.02 percent, to 1,748 points. "Capesize spot earnings have come under some pressure in part due to a lack of fresh cargoes in the Atlantic…

© sergeevspb / Adobe Stock

Baltic Index Rises on Firmer Rates for Larger Vessels

The Baltic Exchange's main sea freight index marked its strongest daily percentage gain in nearly three weeks on Tuesday as the capesize segment rebounded from its two weeks of declines, and the panamax rates climbed further. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, climbed 28 points, or 2.48 percent, to 1,157 points. The capesize index rose for the first time in 11 sessions and was up 80 points, or 5.54 percent, to 1,525 points. "Capesize earnings have ticked up ...

© sergeevspb / Adobe Stock

Baltic Index Rises on Higher Rates across All Segments

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday, helped by higher rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 29 points, or 3.49 percent, at 859 points. The capesize index gained 91 points, or 12.05 percent, to 846 points. Capesize earnings are on the rise with average earnings ticking up to about $7,200/day as the market continues to gain some traction in Western Australia and Brazil…

© Eugene Sergeev / Adobe Stock

Baltic Index Rises on Improved Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the second straight day on Tuesday, supported by higher demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 19 points, or 2.01 percent, at 965 points. The capesize index gained 106 points, or 8.65 percent, to 1,331 points. Capesize rates are on the rise with average earnings increasing up to about $10…

© Volodymyr Kyrylyuk / Adobe Stock

Baltic Index Up for Fifth Straight Day

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the fifth day this week, helped by higher rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 9 points, or 0.88 percent, at 1,032 points on Friday. The capesize index gained 35 points, or 2.18 percent, at 1,637 points. Capesize rates are ending the week on a much firmer note, with average earnings rising to about $13…

(Photo: NORDEN)

Baltic Index Surges on Strong Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, notched its biggest one-day percentage gain in five months on Thursday, buoyed by soaring demand for larger vessels. The index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 42 points, or 4 percent, at 1,092 points – the highest since April 28. "We are seeing a seasonal uptick ... This time of the year you basically see the rates improve," said Herman Hildan, analyst at Clarksons Platou Securities.

© norinut / Adobe Stock

Baltic Index Rallies as Larger Vessel Rates Surge

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, jumped more than 4 percent on Friday as demand for capesize and panamax vessels remained strong. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 46 points at 1,138 points, its biggest one-day percentage gain in more than five months. "Momentum is continuing to press the dry bulk market into the owners' favor, driving firmer sentiment in the larger size classes," Clarksons Platou Securities analysts wrote in a note.

© Andrey Sarymsakov / Adobe Stock

Baltic Index Continues Winning Streak

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Wednesday continued its winning streak as demand for capesize vessels strengthened. Rising for the thirteenth straight session, the overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 38 points, or 3.25 percent, at 1,207 points, touching its highest since April 20. The capesize index surged 169 points, or 7.84 percent, to 2,324 points, hitting a more than four-month high.

© Lukasz Z / Adobe Stock

Baltic Index Posts First Drop in 3 Weeks

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Tuesday snapped a 16-day winning streak, weighed down by weaker demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 17 points, or 1.34 percent, to 1,249 points. The capesize index shed 95 points, or 3.68 percent, to close at 2,489 points, notching its first drop since July 27. In that period, the index had gained nearly 120 percent.

© Roman Stetsyk / Adobe Stock

Baltic Index Slides on Lower Rates for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped for the second straight session on Wednesday, hurt by falling rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 27 points, or 2.16 percent, to 1,222 points. The capesize index shed 107 points, or 4.3 percent, at 2,382 points - its biggest one-day percentage fall since July 27. The index snapped a 17-day rally on Tuesday.

© Gang / Adobe Stock

Baltic Index Hits Near 5-month High On Improving Vessel Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near 5-month high on Thursday, driven by stronger demand across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 46 points to 1,296 points, a level last touched on April 13. The 3.68 percent jump was its biggest in a single day since Aug. 11. The capesize index climbed 176 points, or 7.22 percent, to 2,614 points, a peak not hit since late March.

© Valentin Kundeus / Adobe Stock

Baltic Index Hits near 3-year High

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near three-year high on Monday, supported by higher rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 23 points, or 1.73 percent, at 1,355 points - the highest since Nov. 2014. "The market has been solely driven forward by the capesize shipping segment this year. Only recently have we seen panamax and handysize climb to profitable freight rates…

© Aleksey Stemmer / Adobe STock

Baltic Index Drops to 5-month Low on Sinking Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell nearly 5 percent on Wednesday to its lowest in over five months due to tumbling capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, slid 57 points, or 4.7 percent, to close at 1,164 points, the lowest since Aug. 14. The capesize index fell 267 points, or 13.28 percent to 1,743 points, its lowest level since Aug. 9 last year.

File photo: © HHM / Dietmar Hasenpusch

Capesize Rates Post Biggest Weekly Drop in 2 Years

The Baltic Exchange's main sea freight index fell on Friday and continued to linger around five month lows as the capesize segment recorded its biggest weekly percentage decline in two years. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, shed 14 points, or 1.23 percent, to 1,125 points, the lowest since Aug. 10, 2017. For the week, the index ended 12 percent lower. The capesize index fell 118 points, or 7.32 percent, to 1,493 points, its lowest since Aug.