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Just so much debt with bulk shippers. They all keep building new ships which put them in even more debt, and even though they have a fleet utilization of 99.5% they still are losing money. Unbelievable.
Better than a big ol pile of yuck, but not by much. The eventual upside could be epic, but it's like catching a falling knife.
Sold some if my cheapies today. Man it was bull today. I think i'll be able to pick some lower than here. Then again, with the last of the ships is coming up and I think soon it should show some strength when they don't have to allot $ for new builds.
EGLE Video Chart 6/13/11
http://www.videocharts.qualitystocks.net
Eagle Bulk Shipping Inc. is not a current client of QualityStocks
Risk/reward.
I don't think EGLE will recover til later this year, that's how I'm playing it. Once these global events blow over(tsunamis/earthquakes/floods), ships will be a rollin again.IMO
Dry Bulkers Brace for Brutal Impact
http://www.fool.com/investing/general/2011/05/10/dry-bulkers-brace-for-brutal-impact.aspx
Christopher Barker
May 10, 2011
Ever since the very first wave of destruction that tossed a buoyant dry bulk shipping industry to its tipping point back in 2008, always-opportunistic Foolish investors have maintained a disciplined vigil for signs of calmer seas on the horizon.
In no uncertain terms, unfortunately, Diana Shipping (NYSE: DSX ) resurrected a troubling, two-year-old warning during its first-quarter conference call last week. Fools may recall that Diana's president, Anastasios Margaronis, issued an alert to investors in May of 2009 that stated "the challenge for most shipping companies will be to survive over the next two years or so."
According to Mr. Margaronis' seasoned perspective, it seems, surprisingly strong business conditions in 2010 forestalled some of the more frightful market scenarios that nonetheless remained on the company's long-term radar screen. Citing newly revised global economic forecasts and shipping industry projections -- and a persistently excessive slate of new vessel construction overhanging the battered industry -- he offers the somber reminder that "the inevitable cannot be indefinitely postponed".
Dry bulk's unavoidable days of reckoning
Indeed, atop the already acutely oversupplied condition of the dry bulk industry today -- which is reflected in the 38% sequential decline in the average daily charter rate realized by spot-market tracker Baltic Trading (NYSE: BALT ) -- new vessels presently on order would add an astounding 47.3% to the size of the current global fleet. Even accounting for projections of delayed and canceled orders, the Capesize fleet is expected to expand by 14% in 2011, and the Panamax fleet may grow by 12%. The corresponding forecast for only 5% growth in global demand for dry bulk haulage, meanwhile, is nowhere near sufficient to absorb the projected capacity increase in an orderly manner.
I have been concerned about the long-term survival prospects of heavily indebted dry bulk shippers for some time; though admittedly, as time passed, and none of the U.S.-traded shippers that I follow sank to the ocean floor, I grew increasingly complacent about those failure risks. Sure, a pair of defaults by major Korean shipping lines sent shockwaves through the industry, but they caused no semblance of the "wave of destruction for banks to rival the subprime crisis" that Margaronis warned of in 2009.
Following Mr. Margaronis' pointed reminder, however, this Fool's complacency has been abruptly obliterated, and replaced by reactivated scrutiny of the sector's leading failure risks. Within that context, Navios Maritime's (NYSE: NM ) practice of mitigating counterparty risk -- by insuring charter contracts -- becomes an important factor for Fools to consider. When Korea Line entered receivership last February, that insurance spared Navios from the lasting damage that competitor Eagle Bulk Shipping (Nasdaq: EGLE ) has suffered. Eagle turned in a $5.8 million net loss for the first quarter of 2011.
A rate collapse takes its toll
Under the intensifying strain of painfully weak charter rates, Eagle was not the sole carrier to post a loss for the first quarter. Excel Maritime Carriers (NYSE: EXM ) lost a million bucks as its realized average daily charter rate slipped 20% from the prior-year period. The aforementioned Baltic Trading lost $1.7 million. Genco Shipping & Trading (NYSE: GNK ) managed to eke a $13.4 million profit, but only because the company added 13 new vessels the fleet. Without that substantial expansion of scale, the 37% decline in Genco's average charter rate would have decimated profitability.
Diana Shipping benefited from some counter-cyclical fleet expansion of its own, but the savvy operator experienced only a 1% decline in its average daily charter rate. At $31,592, that average stands among the best in the industry, and the vast majority of Diana's fleet remains locked into long-term contracts at rates well above the prevailing spot market. In addition, Diana achieved an 11% drop in vessel operating expenses for the first quarter. Not only did Diana record a profit during a quarter marked by crumbling market fundamentals, but the company managed to improve upon the prior-year mark by 15% to take home $33.1 million.
Diana Shipping continues to shine as the ultimate relative safe haven amid a sea of dry bulk uncertainty, due to a solid relative profitability profile, an astute executive team with its finger correctly on the pulse of the ongoing dry bulk industry crisis, and a pristine balance sheet that positions the company for transformative, opportunistic growth near the eventual bottom of the business cycle. As a long-term investor, patiently awaiting the inevitable reversal of this extended downward spiral, I routinely feel as though I am catching a falling knife. With steadfast positions in Diana Shipping and Baltic Trading, however -- plus a miniscule, ultra-high-risk, and ultra-speculative bet on a miraculous turnaround for DryShips (Nasdaq: DRYS ) -- I trust the resulting wounds will prove limited in both scale and duration.
For sure, I've bought quite a bit. Imo after they quit buying ships this year we should start up. Oh, I told you sptn! They are going to go plaid.
Wish I knew the future of this Co. A hell of a time to buy a glob of shares.
I made some REALLY good profits with EGLE prior to min 2008.
The market turned to crap in late 2008 and I just "covered" my loss.
Now I see the Chinese has purchased its own shipping fleet to haul potash, which I still hold. I don't see how EGLE can break into that portion of the shipping market. Any thoughts??
I donno,i bought a ton, it went lower, bought more, then more. Now like oh shit, settle down. Our final ships are this year, unless the ocean dries up I'm peeping for some good gains in the future.
I sold half this morning when I saw the news posted. I figured that would be a good time for the stock to get shorted. Now I wish I'd sold it all. Should be able to buy back in around 4.
I got a little nervous as it retraced earlier.lol When do you predict the good rise here? I am thinking that their last ship will be delivered around August I think. I believe less money will have to be used to build ships and more to strengthen the business. This will really show whether the equity was worth it.
I think I will just watch for a bit. GL
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59272760
I bought a shit ton at 4.05. Hopefully we're oversold, despite the news that may not effect us too much.
Chart is screaming bounce.
Bought 1k at 5.25. Need a decent day in the market now.lol
I got out again. I am looking for 5.25.
The last ships will be delivered next year. It should start ramping up next year to be a VERY good LT play. Very Good!!!
This thing is bull right now.
The trend is back up so a pull back on a big down day to the mid fours will have me buying as well.
congrats on that jackpot!
Man after hitting the jack pot on LLEG earlier this week, I had bought back 1500 EGLE at 4.96. It went against me wanting to wait to buy back in the mid 4's. Hopefully it will work out!
Looking strong. I really enjoyed good green all across the board today. Let's keep it rollin.
http://finance.yahoo.com/news/Eagle-Bulk-Shipping-Inc-pz-2010840611.html?x=0&.v=1
Press Release Source: Eagle Bulk Shipping Inc. On Monday September 13, 2010, 8:30 am
NEW YORK, Sept. 13, 2010 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq:EGLE - News) announced the launch of Eagle Bulk Pte, Ltd., a freight trading operation established under the leadership of Keith Denholm. Mr. Denholm brings more than 25 years of experience in dry bulk trading, serving most recently as Commercial Director at Pacific Carriers Limited (Singapore) and Malaysian Bulk Carriers Berhad. Eagle Bulk's trading capabilities will extend the Company's global presence, which includes a new office in Singapore, to capitalize on value creation strategies in spot trading, contracts of affreightment, and time charter in/out, among others.
Eagle Bulk Chairman and CEO, Sophocles N. Zoullas, commented, "During the past five years, Eagle Bulk has profitably established deep commercial and market relationships and a strong brand in global shipping markets. With the launch of freight trading capabilities and Keith's addition to the team, we are poised to optimize revenue from these assets throughout shipping cycles. In support of this effort, we have assembled a stellar, deeply-experienced team -- a competitive advantage that will be instrumental to our success."
Mr. Denholm added, "I am delighted to join Eagle Bulk at the helm of this new venture, which comes at a particularly compelling time. Ongoing dry bulk market volatility and rapid changes in trading patterns have escalated the need for sophisticated freight and risk management capabilities. Eagle Bulk is ideally situated to capture the opportunity, which I believe will yield substantial value over time."
About Eagle Bulk Shipping Inc.
lol, I kept 100, better than none. My PACR was kind of bull this morn, but honestly, EGLE is pretty darn bull too! I think there's a lot of green to be made here.
Thats why I will never sell everything at once.
Let it run the cycle. We're gonna be sad when it quits cycling and really makes a firm bull move.lol
Yup I sold to early this time now I wait.
after such a strong day,i went ahead and sold at 3.95 400 instead of 3.98. Now you dirty stock, go down.lol
I sold all of my EGLE this AM will buy back again in the upper 3's and lower 4's
Job numbers and other economic data coming out this week.
Now I just need it to continue. Maybe I can, wash, rinse, and repeat. Only for 400 though, I am building up some blue chips and up comers for the long haul as cheap as they are.
Very good timing! well done
Bought 500 shares today at 4.48. Should be easy money to 4.98 at least.
Eagle Bulk Shipping Inc. Earnings Conference Call (Q2 2010)
Scheduled to start Thu, Aug 5, 2010, 8:30 am Eastern
http://biz.yahoo.com/cc/9/115539.html
Eagle Bulk Shipping Inc. Reports Second Quarter 2010 Results
Net Revenue and EBITDA Increase 24% Year-on-Year
http://finance.yahoo.com/news/Eagle-Bulk-Shipping-Inc-pz-783559638.html?x=0&.v=1
UPDATE 1-Eagle Bulk Q2 profit beats Street
Wed Aug 4, 2010 5:26pm EDT
* Q2 EPS $0.18 vs est. $0.10
* Q2 rev up 24 pct
* Shares up 2 pct after market
Aug 4 (Reuters) - Drybulk carrier Eagle Bulk Shipping Inc (EGLE.O) reported second quarter profit that beat analysts estimates, helped by higher time charters.
For quarter, the company's net income was $11 million, or 18 cents a share, compared with $13.3 million, or 26 cents a share, a year earlier.
Net revenue rose 24 percent to $65.6 million.
Analysts on average were expecting 10 cents a share, on revenue of $59.65 million, according to Thomson Reuters I/B/E/S. Shares of Eagle Bulk closed at $4.83 Wednesday on Nasdaq. They rose 2 percent to $4.92 in after-market trade.
For the alerts, please double click [ID:nWNAB3712] (Reporting by Arup Roychoudhury in Bangalore; Editing by Vyas Mohan)
Me too. I missed my flip on PACR which would have left me cherry for another ride here. Looking good for those on the ship!:)
SmarTrend Watching for Rebound in Shares of Eagle Bulk Shipping After 3.21% Loss (EGLE)
Written on Fri, 06/25/2010 - 2:55am
By Chip Brian
Eagle Bulk Shipping (NASDAQ:EGLE) traded in a range yesterday that spanned from a low of $4.53 to a high of $4.65. Yesterday, the shares fell 3.21%, which took the trading range below the 3-day low of $4.57 on volume of 1.3 million shares.
Shares of Eagle Bulk Shipping are currently trading below their 50-day moving average (MA) of $5.03 and below their 200-day MA of $5.27. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Eagle Bulk Shipping and our subscribers were alerted to Sell on May 07, 2010 at $4.96. The stock has fallen 8.7% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $4.57 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Shipping & Marine Services industry.
http://www.mysmartrend.com/news-briefs/news-watch/smartrend-watching-rebound-shares-eagle-bulk-shipping-after-321-loss-egle
Eagle Bulk Shipping has the Highest Beta in the Marine Industry (EGLE, DRYS, ULTR, PRGN, GNK)
Written on Wed, 06/23/2010 - 5:30am
By Chip Brian
Below are the top five companies in the Marine industry as measured by beta. Higher-beta stocks mean greater volatility and are therefore generally considered to be riskier but also may provide the potential for higher returns.
Eagle Bulk Shipping (NASDAQ:EGLE) ranks first with a beta of 2.1; DryShips (NASDAQ:DRYS) ranks second with a beta of 2.1; and Ultrapetrol Bahamas (NASDAQ:ULTR) ranks third with a beta of 2.
Paragon Shipping (NASDAQ:PRGN) follows with a beta of 2 and Genco Shipping & Trading (NYSE:GNK) rounds out the top five with a beta of 2.
SmarTrend is bearish on shares of DRYS and our subscribers were alerted to Sell on May 04, 2010 at $5.84. The stock has fallen 32.6% since the alert was issued.
http://www.mysmartrend.com/news-briefs/news-watch/eagle-bulk-shipping-has-highest-beta-marine-industry-egle-drys-ultr-prgn-gnk
4 more ships shedualed for this year
My main complaint these days is I have no $ to add shares.
More ship
Press Release Source: Eagle Bulk Shipping Inc. On Tuesday June 22, 2010, 8:30 am EDT
NEW YORK, June 22, 2010 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq:EGLE - News) today announced that it has taken delivery of the Ibis Bulker, a 58,000 dwt Supramax dry bulk vessel. The vessel has entered into a three year time charter at a base rate of $17,650 per day. The charter also includes a 50% profit sharing on rates above $20,000 per day. In aggregate, the Ibis will contribute approximately $19 million in minimum contracted revenue.
About Eagle Bulk Shipping Inc.
Eagle Bulk Shipping, Inc., headquartered in New York City, is a leading global owner of Supramax dry bulk vessels, which are dry bulk vessels that range in size from 50,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.
Took a small profit and got out of Dodge. Invested heavly in Oil clean up stocks so far making a killing on 2 lost pocket change on 1 (ACLH) played that one pretty conservitave I was afraid of it from the start.Got some sell orders in may be back here when the powder is dry.
I've made good coin on this and DSX. Never tried the others. Looking good for anyone in it now.
no new posts in the last 10 days since I posted! wow! Well I'm hoping to see everything climb from here as well.
Remember everyone to keep a close watch on your other dry bulk shippers such as DRYS, DSX, EXM, etc. They're all lookin the same, which if I do say so myself is quite nice. =)
I don't stick around here much... but for anyone who used to swing trade EGLE, you can do the same thing during the day. Use a 3 minute intraday MACD for crosses. As it forms draw trendlines and resistence and support lines across the whole chart. If the MACD looks funky look for trading formations like descending and ascending triangles for confirmation. Do the same thing buy sell short cover, you can make more money on $10k worth of shares than you ever would on month swings.
I just annotated the last two days on a Power Etrade Pro chart for a guy in my trading group, so if anyone would like to see how to do it just let me know :)!
I for one have LOVED this market pullback. Volatility in the markets was low so I doubt that one panic day was a mistake. When volatility increases profits per time variable increase. Changed all my longs to shorts, watch the markets a little closer, and have made quadruple what I normally make. Not to mention... rule #1 to large caps. Short the company responsible for disasters caused in nature. Not only has BP been terrible cause of the spill but it's performed the same as the DOW and every other stock on the market.
Bear markets don't necessarily mean a loss of opportunity for profits, it just means you need to have a bear strategy. And remember everyone, the higher the volatility the higher the potential profits! AND, as swing traders! yall should know to make money on the shorts!!! Who cares if the stock goes up!
Heck I'd settle for a drumstick or even a wing in this market first day in two weeks that most of my positions finished green. I have been doing this long enough to know better than to try to catch a falling knife but I keep doing it anyway. Slow learner I guess.
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This board's subject is fundamental and technical discussion about Eagle Bulk Shipping Inc., EGLE.
Eagle Bulk Shipping Inc. is a holding company. Through its subsidiaries, the Company is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. As of December 31, 2006, Eagle Bulk Shipping Inc. owned and operated a fleet of 16 oceangoing vessels with a combined carrying capacity of 796,663 deadweight tons. The Company carries out the commercial management of its fleet through its wholly owned subsidiary, Eagle Shipping International (USA) LLC. Eagle Bulk Shipping Inc. expanded its fleet from 13 vessels to 16 vessels by acquiring the KESTREL I, TERN and JAEGER in June and July 2006, respectively. In August 2007, Eagle Bulk Shipping Inc. announced that it has completed the fleet acquisition from the parent of Anemi Maritime Services, a private Greek shipping company.
477 Madison Avenue
New York, NY 10022
(212) 785-2500
http://www.eagleships.com/
Eagle Bulk Shipping Inc. Reports Fourth Quarter and Fiscal Year 2008 Results
http://www.eagleships.com/phoenix.zhtml?c=189576&p=irol-newsArticle&ID=1261693&highlight=
http://finance.yahoo.com/news/Eagle-Bulk-Shipping-Inc-to-pz-15054442.html
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Best DD for all Dry bulk carriers can be found in the Dryships IBOX by Eastunder
http://investorshub.advfn.com/boards/board.aspx?board_id=10556
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