Thursday, 8 January 2015

Shipping Sector Stocks: Baltic Trading (BALT), Eagle Bulk Shipping (EGLE) ,International Shipholding (ISH), Kirby (KEX)



The world’s largest cargo ship has arrived at a British port for the first time.

The CSCL Globe is more than 400m long and carries around 19,000 containers on each voyage.
It is longer from bow to stern than the Shard skyscraper in London is tall.

The ship arrived at the port of Felixstowe at around 12.30 GMT yesterday. Spectators on the Suffolk shoreline watched the ship dock.

Registered in Hong Kong, the CSCL Globe left on its maiden voyage from the port of Qingdao in China in mid-December 2014.

It displaces 186,000 tonnes of water and was constructed by the South Korean shipbuilder Hyundai Heavy Industries.

The ship is owned by China Shipping Container Line, commonly known as CSCL, and was ordered in May 2013 along with four other similar capacity ships at a cost of around £463 million
China Shipping Container Line is part of China Shipping Group, China’s state-owned shipping company, which is directly administered by the State Council of the People's Republic of China.{1}



Baltic Trading Ltd (NYSE:BALT) closed lower -5.36% to $2.12,  recently declared that it has joined into a new credit contract with Nordea Bank Finland plc and Skandinaviska Enskilda Banken AB for a $148 million senior secured credit facility. The new five-year credit facility is comprised of a $115 million revolving credit facility and a $33 million term loan facility. The $115 million revolving credit facility refinances the total amount outstanding under the organization's existing senior secured revolving credit facility, which was scheduled to mature in 2016. The total amount outstanding under the $115 million facility will be $104.5 million as of January 7, 2015 and remaining amounts can be used for general corporate and working capital purposes.

Eagle Bulk Shipping Inc (NASDAQ:EGLE) closed higher 1.97% to $13.99, through its subsidiaries, is involved in the ocean transportation of various bulk cargoes worldwide. The organization owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, such as iron ore, coal, grain, cement, and fertilizers. As of December 31, 2013, it owned and operated a fleet of 45 oceangoing vessels, including 43 Supramax and 2 Handymax vessels with a combined carrying capacity of 2,451,259 deadweight tons. The company was founded in 2005 and is headquartered in New York, New York.

International Shipholding Corporation (NYSE:ISH) closed declined -1.23% to $14.51, declared that the organization’s Board of Directors has declared a dividend of $2.375 per share on its Series A Cumulative Redeemable Perpetual Preferred Stock (NYSE:ISHPRA) and a dividend of $2.25 per share on its Series B Cumulative Redeemable Perpetual Preferred Stock (NYSE:ISHPRB), each representing payment for the full ninety day period ending January 30, 2015. The dividend will be paid on January 30, 2015 to preferred shareholders as of record on January 29, 2015.

Kirby Corporation (NYSE:KEX) closed gained 2.60% to $79.81, declared that it expects 2014 fourth quarter net earnings to be in the $1.10 to $1.20 per share range, Kirby's previously announced earnings guidance range of $1.30 to $1.40 per share.  For the full year, Kirby is revising 2014 guidance to $4.84 to $4.94 per share, below previously announced guidance of $5.04 to $5.14.

Source {1}: http://www.independent.co.uk/news/uk/home-news/worlds-largest-cargo-ship-arrives-in-british-port-for-the-first-time-9964159.html

1 comments:

  1. I really enjoyed reading this blogpost, keep on writing such interesting posts.

    ReplyDelete

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