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Euronav BE0003816338

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19.290 Posts
Pagina: «« 1 ... 352 353 354 355 356 ... 965 »» | Laatste | Omlaag ↓
  1. Mitchieboy 16 november 2018 13:30

    • Mitchieboy

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    Torm CEO after large deficit: Market has already turned
    BY DANIEL LOGAN BERG-MUNCH, SØREN PICO
    Published 15.11.18 at 15:27
    The recovery of a miserable product tanker market is well underway, says Executive Director Jacob Meldgaard in an interview with ShippingWatch after the company delivered yet another significant deficit in the third quarter.

    The product tanker recovery is underway, says Torm Executive Director Jacob Meldgaard, even though the shipping company has just gone through the worst market seen in the eight years he has headed the company.

    A market that hit Torm with a large deficit of USD 24.5 million in the third quarter.

    The market for oil product transport has improved in the past month and a half, and despite deficits in the two most recent quarters, Meldgaard's expectations for the market on the long term remain positive and intact, he tells ShippingWatch.

    There's been a real step change. The market is improving compared to the third quarter, and we can already see it in our numbers"

    JACOB MELDGAARD, EXECUTIVE DIRECTOR, TORM
    "The spot market reacted more poorly in the second and third quarter than we imagined. But that doesn't change the long-term view that product tanker faces a recovery, and that the order book is under control. And with the implementation of the new sulfur regulations, the need for refined oil products will create a bigger need for transport," Meldgaard tells ShippingWatch.

    In the past month, the rate level for Torm's bookings has increased 25 percent, compared to the third quarter. And the company's MR ships are currently sailing at spot rates of USD 15,000 per day on the Atlantic. In comparison, the ships sailed at spot rates of less than USD 10,000 in the third quarter.

    "There's been a real step change. The market is improving compared to the third quarter, and we can already see it in our numbers."

    Despite the improvement, it is still too early to say whether 2018 could end in a combined profit for Torm, says Meldgaard.

    The reverse scenario
    Shorter transport distances and cannibalization into the market from crude oil tankers, in particular, resulted in "historically low levels" for product tanker in the third quarter – a situation that also hurt competitors such as Scorpio Tankers and Ardmore.

    Torm's bottom line deficit grew to USD 24.5 million before taxes from a deficit of USD 3.9 million in the same period last year. And after the first three quarters of 2018, the combined deficit stands at USD 32 million before taxes, following a profit in the first quarter countered by deficits in the two following quarters.

    However, since Sept. 30, when the latest accounting period ended, the company has noted improvements in both parameters, explains Meldgaard. A stronger crude oil market also boosted the product tankers.
  2. Mitchieboy 16 november 2018 13:36

    • Mitchieboy

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    Interessant bericht hieronder.....Cerberus en Lone Star kennende gaan ze meteen over tot executeren....dat kan inhouden dat er of druk komt op de tweedehands markt of dat ze naar scrapping gaan....het eerste zou negatief zijn, het tweede positief.....tenzij EURN op zoek is naar nog meer koopjes zoals GENER8.

    Equity firm to take over NordLB's bad shipping loans totaling billions
    BY KATRINE GRØNVALD RAUN
    Published 15.11.18 at 11:09
    According to sources Reuters has spoken to, private equity company Cerberus is in exclusive talks with German bank NordLB to take over poor shipping loans worth USD 2.8 billion.

    Photo: Foto: PR/NordLB
    NordLB may be close to selling off non-performing shipping loans worth roughly USD 2.8 billion, sources close to the process tell Reuters.

    According to the news agency, the bank has initiated exclusive talks with private equity fund Cerberus, which is also among the new owners of German shipping bank HSH Nordbank, which is carrying out a privatization of the bank.

    The portfolio with the non-performing shipping loans has been dubbed 'Big Ben' and the talks are aligned with the bank's ambition to sell of and restore balance by early December.

    Monday, the bank got a final offer on another portfolio worth EUR 4 billion. This offer was made by Cerberus, private equity fund Lone Star and hedge fund Davidson Kempner, sources tell Reuters. None of the parties have wished to comment on the story.

    Earlier in November, it became apparent that NordLB scored lowest out of all German financial institutions surveyed in a stress test of the European financial sector. According to media NDR, non-performing shipping loans worth billions of Euros are weighing down the bank and draining the capital adequacy requirement in the event of a crisis.

    Therefore, the bank is trying to get rid of almost all of its non-performing shipping loans this year.
  4. Mitchieboy 19 november 2018 16:35

    • Mitchieboy

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    Vreemd dat EURN zo sterk daalt als Rusland aangeeft nog niet met cut in te willen stemmen? Olie lager, hetgeen gunstig is voor tankers.....dus vreemd?
  6. Drillbit 20 november 2018 15:36

    • Drillbit

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    Herstelkandidaten is een mooie naam voor brol en rommel...
    Nyrstar,exmar,euronav,balta,ontex,mdxhealth,hamon...
  9. [verwijderd] 20 november 2018 20:29

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    quote:

    Mitchieboy schreef op 19 november 2018 17:20:

    Blijft toch onvoorspelbaar fonds....7.66 hoog vandaag en zonder negatief nieuws 4% eraf daarna...
    Geen idee
  10. Risky bets 21 november 2018 09:45

    • Risky bets

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    quote:

    lucky14 schreef op 20 november 2018 19:12:

    Waar vind ik die rates?
    @mitch; Nee rates gaan alleen maar omhoog. Alles scheepvaart, olie gerelateerd, hoog debt wordt gedumpt. Fundamenteel is er totaal geen reden...

    www.hellenicshippingnews.com/wp-conte...

    Pagina 2 heeft informatie. De gratis app "VLCC fixings" is ook een goede tool.
  11. Mitchieboy 21 november 2018 11:08

    • Mitchieboy

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    Zag inderdaad geen aanleiding. Blijft nog steeds demand issue waar iedereen nu erg over twijfelt denk ik. En dat rates omhoog gaan is seizoen natuurlijk, dus hoe het er daarna uit gaat zien is de vraag.

    GLNG trouwens gezien? Wat een bloedbad he.....en dat terwijl die rates ook nog steeds sky high zijn.
  12. Risky bets 21 november 2018 13:45

    • Risky bets

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    DNB upgrade voor frontline. Lol als maar 50% hiervan uitkomt zijn tankers top posities...

    FRONTLINE Target price raised to NOK83 We reiterate our BUY recommendation and have raised our target price to NOK83 (60). We forecast negative crude tanker fleet growth in 2019 and 2020 due to scrapping and IMO 2020 disruptions, and 5.0% 2019– 2020e tonne-mile growth, driven by US exports. We now apply our 2020 VLCC asset value forecast (put forward previously March 2018) of USD107m.
    2020e EPS raised by 29% on scrubber earnings. We have raised 2018e net profit to USD8.6m (from USD-58m), trimmed 2019e net profit by 2%, and raised 2020 by 29% after applying surplus scrubber earnings to the company’s 20 scrubbers.
    2019 and 2020 could see negative fleet growth, due to regulatory supply effects. We expect regulatory disruptions to lower crude tank supply by 1.7%-points in 2019 (from 1.2% to -0.5%) and by 1.4%-points in 2020 (from 0.3% to -1.1%). Compared to our tonne-mile demand growth forecast of 5.5% for 2019 and 4.0% for 2020, we believe the tanker sector is on the verge of a prolonged upcycle, primarily driven by regulations and US exports. The latter are extending the average VLCC sailing distance, as has happened in LNG in 2018 and as we saw in LPG in 2013–2015.
    We apply our USD107m resale price, and debut USD116m with scrubbers. In our March tanker sector report, we forecast VLCC resale prices of USD92m by start-2019 (in line with current prices and up from USD84m in March) and USD107m by the start of 2020 based on our VLCC forecast of USD41k/day for 2020 (up from USD29k/day for 2019). With 2020 now just over a year away, and the supply/demand balance looking even firmer than we expected, we have shifted our valuation one year forward to incorporate a USD107m VLCC resale price. This increases to USD116m when we add our scrubber NPV valuation of USD9.3m.
    BUY recommendation reiterated and target price raised to NOK83 (60) based on 1.25x our one-year forward NAV of NOK66/share and our 2020 tanker asset value forecast (33% upside potential to the value of a 5-year old VLCC) as well as our scrubber valuation of NOK4/share. We calculate a current NAV of NOK41/share (NOK37/share excluding scrubbers), up from NOK32/share in August.
    DNB
  14. Risky bets 21 november 2018 17:38

    • Risky bets

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    quote:

    Mitchieboy schreef op 21 november 2018 16:23:

    Zou mooi zijn als iets dergelijks ook voor EURN uit zou komen...;-)
    Rates weer verder omhoog vandaag. Vooral suezmax rates zijn sexy op het moment.

    Ziet ernaar uit dat EURN weer een forse dividend uit gaat keren in 2019 en dat gaat de interesse van de massa's wel weer wekken lijkt me.
  16. Mitchieboy 22 november 2018 08:00

    • Mitchieboy

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    Euronav tipped for sale of former Gener8 product tanker

    Tanker giant Euronav looks to have started offloading a pair of product tankers purchased during its takeover of Gener8 Maritime.
  18. Risky bets 23 november 2018 14:27

    • Risky bets

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    Clarcksons zet VLCC op 46.5k en Suezmax op 56.4k/day vandaag. Zwakte van EURN is wel apart. FRO blijft goed liggen.
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