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Here's a list of urls for dry shipping info and general shipping info. Thanks Audio, Enjoytheshore, and others. Excludes specific shipping company websites except drys BDI link. Revised 22 October.
Split into sections now:
1) BDI and Futures
2) Shipping News
3) Shipbrokers
4) Ports & Vessels
5) Company Comparisons
6) Short Interest
7) New.
= = = = BDI = = = =
BDI, updated 0830-0900 EST on London business days:
Highly recommended
http://www.dryships.com/index.cfm?get=re...
BDI detail, BPI, all routes.
http://www.skaarupshipbrokers.com/indice...
BDI
Publisher
http://www.balticexchange.com/default.as...
BDI graphs
http://investmenttools.com/futures/bdi_b...
BPI year history
XLS download, from bottom of page
http://www.dianashippinginc.com/web/page...
Dry bulk futures.
General info only. Data by subscription.
http://www.imarex.com/imarex_markets/fre...
BDI and a ton of LINKS
http://www.braemarseascope.com/home/inde...
= = = = SHIPPING NEWS = = = =
Up-to-the-minute industry news covering rates, sale & purchase, aquisitions, yards, etc. Detail by subscription. Free trial.
Highly recommended
http://www.tradewinds.no/
Cover-all shipping site.
http://shipping.capitallink.com/
Weekly reports covering events, ship sales, values, rates
Recommended
http://www.compassmar.com/market.htm
Shipping news. New to list
http://www.hellenicshippingnews.com/
Shipping news
Quintessential historical data site. Discusses players, IPOs, acquisitions, over last 5 years. Debunks rumors and myths.
http://www.marine-marketing.gr/newscuts....
Shipping News (secondary)
http://www.drybulkindex.com/
SSY
http://www.ssyonline.com/index.html
Lloyds teaser.
http://www.lloydsmiu.com/lmiu/index.htm
= = = = SHIPBROKERS = = = =
Shipbroker. Free registration, or paid reports.
Weekly PDF via free registration.
http://www.fearnleys.com/index.gan?id=33...
Shipbroker
http://www.platou.com/Shipbrokers/DryCar...
Platou "real-time" fixture reports
http://194.248.8.71:81/OnlineServices/Pa...
shipbroker
http://www.brs-paris.com/
shipbroker
daily fixtures.
http://www.skaarupshipbrokers.com/fixtur...
= = = = PORTS and VESSELS= = = =
cargo port website links
links to 500 ports websites worldwide
http://www.hal-pc.org/~nugent/port.html
world ports distances
name 2 ports get nautical miles, transit times.
http://www.distances.com/
Newcastle
Key Australian coal port
http://www.newportcorp.com/page_shipping...
Vessels.
Comprehensive, by name.
Click on class notation on a ships page to learn more.
Lists original owner.
https://exchange.dnv.com/Exchange/main.a...
= = = = COMPANY COMPARISONS = = = =
Zacks
http://www.zacks.com/ABR/abr_comp_rank_i...
Stock comparison views.
Fundamentals may be stale.
http://sites.barchart.com/pl/poten/secto...
= = = = SHORT INTEREST = = = =
Data from NASDAQ
http://www.nasdaq.com/asp/quotes_full.as...
Data
http://www.shortsqueeze.com/index.php?sy...
= = = = NEW = = = =
asian markets
http://www.allstocks.com/markets/World_C...
shanghai exchange (SSE)
http://www.sse.com.cn/sseportal/en_us/ps...
Shipping news captions (links fail?)
http://www.containerbusiness.com/dry-car...
http://www.buyins.net/
Free daily naked short list
GDOCF closed in Oslo at NOK40.05 = USD 7.44 (-1.48%)
FRO up 3.86% at NOK 242.00 = USD 44.98
Hello Wildbill. Transocean (RIG) earned whopping 3Q revenues $1.54 B, net 973 M and EPS 3.24. They said that best earnings came from shallow water jackups.
These companies will publish their 3Q earnings today after closing bell:
Global Santa Fe (GSF) - deep sea driller
Teekay Shipping (TK) - tanker ships
Teekay LNG (TNP) - LNG carrier
Willahby. Now I found your mailbox and hope you get this message.
Good Morning Willahby. I hope you read this board and get my message this time. I cannot send you a PM, because I am not a paying member of IHub. Last time I answered your message I sent it to a board, which I saw you had visited last (can't remember the board), but the message got deleted - don't know why, and don't know if you saw it.
I remember you asked about the dry bulk shipper Golden Ocean, which is listed in grey sheets (GDOCF.PK $7.70) in USA. Trading grey sheets is troublesome - you can't see the orderbook levels. But you can call a broker and give them your price limit you want to buy or sell. They should know the last bid and ask, but you can check the last prices it was traded in Oslo (GOGL) e.g. here (15 min delayed courses):
http://www.hegnar.no/netfonds/aksjekurser/
I like the management and the dividend policy of GDOCF.
There are other young shipping companies too, which can very well grow in current development of world trade. Look at post #159 in this board, there is some information about dry bulker FREE $7.99. They got their recent second stock offering sold very quickly, which is a good sign.
Another low priced shipper is TOP Tankers (TOPT $5.96), who has tanker vessels and bought bulkers lately. They will get the bulkers only in the first quarter of 2008, when the ships begin to earn them money.
DRYS $108.00 has a very low O/S and float, and is therefore very volatile. But is an excellent drybulk shipper. And so is DSX, too. Start with small buys, and add little by little. I guess you have many years to collect a good bunch of shares, which will some day give you a very nice sum in dividends :)
Look at the Tanker-list in the Ibox of this board. Stock Lobster is updating the list almost daily. The earning season is beginning now, so follow the news sites (Yahoo for example) and this board to get information about the companies you are interested in. Good dividend payers are worth to follow!
Xanadu
Good Morning Willahby. I hope you read this board and get my message this time. I cannot send you a PM, because I am not a paying member of IHub. Last time I answered your message I sent it to the board, which I saw you had visited last (can't remember the board), but the message got deleted - don't know why, and don't know if you saw it.
I remember you asked about the dry bulk shipper Golden Ocean, which is listed in grey sheets (GDOCF.PK $7.70) in USA. Trading grey sheets is troublesome - you can't see the orderbook levels. But you can call a broker and give them your price limit you want to buy or sell. They should know the last bid and ask, but you can check the last prices it was traded in Oslo (GOGL) e.g. here (15 min delayed courses):
http://www.hegnar.no/netfonds/aksjekurser/
I like the management and the dividend policy of GDOCF.
There are other young shipping companies too, which can very well grow in current development of world trade. Look at post #159 in this board, there is some information about dry bulker FREE $7.99. They got their recent second stock offering sold very quickly, which is a good sign.
Another low priced shipper is TOP Tankers (TOPT $5.96), who has tanker vessels and bought bulkers lately. They will get the bulkers only in the first quarter of 2008, when the ships begin to earn them money.
DRYS $108.00 has a very low O/S and float, and is therefore very volatile. But is an excellent drybulk shipper. And so is DSX, too. Start with small buys, and add little by little. I guess you have many years to collect a good bunch of shares, which will some day give you a very nice sum in dividends :)
Look at the Tanker-list in the Ibox of this board. Stock Lobster is updating the list almost daily. The earning season is beginning now, so follow the news sites (Yahoo for example) and this board to get information about the companies you are interested in. Good dividend payers are worth to follow!
Xanadu
GM Stuffit. Don't worry the slump in market, GDOCF is sailing money for us:
"Shinyo Brilliance" got yesterday a spot Nov 4-9 at $98.000/day = USD 588.000 in 6 days
"Marina" got today 35-40 days spot at $85.000/day = ca $ 2.9 M
GDOCF (GOGL) in Oslo now: NOK 39.00 = USD 7.30
Analyst of Nordea Bank in Oslo yesterday: GOGL - Strong sell.
"Orderbook and number of contracts has reached such a level that a considerable fall in use of dry ships capacity and the following fall in rates is OBVIOUS in 2009"
In 2009? Strong Sell already in 2007? He must have a real long term cristal ball lol.
China sends warning to BHP Billiton, Rio Tinto
By Rowan Callick
October 31, 2007 07:12am
THE Chinese steel industry yesterday sent two strong messages to Australia's iron ore producers, as negotiators prepare to fix next year's ore price: steel production is moderating as exports are curbed, and there will be no concessions to acknowledge soaring shipping rates.
Three years ago it was BHP Billiton that attempted in vain to push the Chinese mills -- which last year bought $7.64 billion worth of Australian ore -- to shift the negotiated price from a free-on-board basis to the landed cost, to recognise the advantage in buying more from Australia.
This year it is Rio Tinto that is sending China a similar message, including one to the country's large annual iron and steel conference in Dalian.
Yesterday, after a routine presentation by BHP about its expansion plans, Rio Tinto's general manager China operations for iron ore, Hu Shitai, said the landed cost of a tonne of ore from Australia was less than $US80, while that from Brazil was $US180 and from India -- bought overwhelmingly on the spot market -- $US170.
The moderator of the session, Zhang Jingang, deputy secretary general of the China Iron and Steel Association (CISA), responded that the profitability of steel makers had declined this year, and that some were already losing money -- and could thus not afford further price rises.
Another Chinese response to Australia's claim -- through its major speakers at the conference -- has been to praise the world's biggest single producer, Brazil's CVRD, which last December caught the industry by surprise, settling swiftly a comparatively modest 9.5 per cent rise of the basic price with China's largest mill, Baosteel, which negotiates on behalf of the whole sector.
Next year, said Luo Binsheng, secretary general of CISA, the rise in iron ore imports would slow to 10.8 per cent, from 14.2 per cent this year.
This "moderate growth" would bring the total imports to 410 million tonnes, while domestic output would rise by a similar amount, to 885 million tonnes.
Steel exports, he said, would remain the same or even decline -- recognising China's desire to remove "backward" production facilities, to improve the environment.
Xiong Bilin, deputy director for industry at the National Development and Reform Commission, said the Government did not want China to become "the steel supplier of the world".
But the international steel price remained higher than in China, he pointed out -- luring its mills into the export market.
Mr Luo described the freight cost hike as "abnormal and temporary". Chiefly as a result, steel production costs have risen by a "remarkable" 11 per cent so far this year, he said, while the growth rate in steel production had been declining.
He said: "We believe the current shipping price will fall back to normal levels, with effort from both sides."
In the first nine months of 2007, China imported 108.6 million tonnes of ore from Australia, up 14.8 per cent on the same period last year, 72.2 million tonnes from Brazil, up 28 per cent, and 60.9 million tonnes from India, up 4.3 per cent.
Recent projections of ore price rises for next year range between Reuter's consensus forecast of 25 per cent, which JP Morgan also projects, to Morgan Stanley and Merrill Lynch of 50 per cent.
GM Drybulker fans. Read the last paragraph - that says it all
Forbes: Dry Shipping On The Rocks?
Ruthie Ackerman, 10.30.07, 6:25 PM ET
The dry bulk shipping industry was washed ashore on Tuesday as freight rates on the largest vessels dropped for the first time in months and squeamish investors pulled out.
Freight rates on cape size ships, which are the largest vessels, dropped unexpectedly on Tuesday, which some analysts say may be a sign that Chinese steel production has leveled off, causing shipping prices to decrease as less vessels are needed. Others said that Chinese steel producers are downplaying the demand for steel by holding off on chartering ships in order to rattle the shipping industry since a decrease in demand for steel would mean a drop in shipping prices.
The last 12 months have seen enormous gains in the shipping industry as steel production and demand for raw materials in China has soared. As more ferry loads of coal, steel, grains and other commodities have been chartered it has caused upward pressure on shipping costs. That’s good news for the dry bulk shipping industry, which has seen even its worst stocks skyrocket as much as 150% in the last year.
But the Chinese steel industry can't be too happy. Iron ore makes up about 25% of the bulk commodities transported in cape size ships, the largest vessels. The Chinese went from 8% of the global steel production to 35% in the last year, said Charles Rupinski, senior equity analyst at Maxim Group.
Rupinski said that it now costs more to ship iron ore than the ore itself is worth, given the high rates for larger vessels and the long distances needed to bring the ore from Brazil to China. In addition, shipping rates are way up because there aren’t a sufficient number of ships to keep up with demand. “There’s been a lot of talk from Chinese steel officials that they’re not happy with the rates for iron ore,” Rupinski said.
News that shipping rates decreased, combined with the fact that Chinese steel officials made their displeasure with shipping prices known, scared investors who have been waiting for the ball to drop on the dry bulk shipping sector for some time.
DryShips (nasdaq: DRYS - news - people ) shares slid 17.5%, or $22.97, to $108.00 at the close. DryShips shares soared from $13.85 on Oct. 31, 2006 to $130.97 at the close on Oct. 29, 2007, before an article entitled World’s Scariest Stocks: DryShips was published on The Motley Fool on Monday, spooking investors. The site questioned DryShips' profitably. As investors started selling DryShips it sent waves through the market causing all the dry bulk shippers to tumble. Investors didn’t even heed Jim Cramer’s advice to buy Diana Shipping, (nyse: DSX - news - people ) which was one of his picks on CNBC’s Stop Trading! Segment.
Investors in the dry bulk shipping sector drowned as stock prices plummeted. Excel Maritime Carriers (nyse: EXM - news - people ) plunged 20,0%, or $16.00, to $63.91 at the close, while Diana Shipping (nyse: DSX - news - people ) tumbled 12.6%, or $5.63, to $39.19. FreeSeas (nasdaq: FREE - news - people ) dropped 10.8%, or 97 cents, to $7.99 and Quintana Maritime (nasdaq: QMAR - news - people ) slipped 5.7%, or $1.64, to $26.93.
Natasha Boyden, an analyst at Cantor Fitzgerald, said she sees absolutely no change in the fundamentals in the dry bulk shipping sector. Boyden says the decrease in stock price should be seen as a buying opportunity.
Rupinksi agreed. He said the earnings power of these companies will continue to grow even at the current levels.
GM Drybulker fans. Don't take these rollercoaster rides in shipping industry too seriously - it is volatile in the seas lol.
What caused yesterday's slump in drybulk sector? Well, there has been a couple of articles and comments about drybulk markets published lately, which did not bother much to investigate all the factors, which cause the high shipping prices now and the sector's confidence in the coming years. The writers concentrated only on the number of new ships coming to the market, and did not analyse other factors that influence on drybulk shipping:
- the increasing need of commodities in the world economy, which is growing ca 6%/year. Urbanization of China, India and the rest of Asia, Pacific Asia, Russia, Middle East and even Africa consumes awfull amounts of iron ore, all kinds of minerals, cement, coal etc. In ten years time China will build over 500 coal fueled power plants, because oil is too expensive (and they don't need to bother much about environmental questions, they have not signed any of those international agreements, e.g. Kioto). The mountains of coal those 500 plants will need in future will already slurp the 500 newbuild Capes ordered.
- demolition of ships. 30% of the world's fleet is older then 20 years, 15% is older that 25 years. 23% of Panamaxes and 18% of Capesizes are older than 20 years. Now the commodity producers and the harbors are setting requirements to the loading ships, and many of them (Australians!) do not accept ships older than 20 years.
- another thing that is expected to increase the ship demolition is the lack of skilled manning.The shipping companies are already now alarming about to get skilled workers. The crews from older ships will naturally move to newer ships.
All of these things will affect the number of available ships in the future. I think the shipping companies know their business and have not overexaggerated their newbuilding orders.
Many people say that yesterday's strong slump in drybulk shipping stocks was also caused by shortsellers, who have gotten really scared in front of the 3Q earnings releases, and tried to push the stocks as low as they could. Who knows, but sounds quite reasonable.
A few day's sharp drops of the BDI index are usual in the shipping world.Up and down. The recent rice of BDI has been really hefty, and a correction was naturally expected.
But if the situation would be so bad in the shipping world, I think nobody could have got yesterday a 2 year contract for a Cape at USD150.000/day and a 2 year contract at USD78.000/day for a Panamax :)
GDOCF in Oslo up 8.07% at NOK 44.20 = USD 8.26!
Yes, Alberta has the biggest known oilsands resources, and Sask is now only explored by BQI.
I've heard they call McMurray in Alberta nowadays McMoney :)
BQI $4.89. BQI's biggest land ownings are in Saskatchewan province. Could they avoid the big rises in royalties?
Only Alberta is mentioned in this article:
"Alberta's Royalty Increase May Chill Oil Boom
by Russell Gold Dow Jones Newswires Friday, October 26, 2007
CALGARY Oct. 25, 2007 (From The Wall Street Journal via Dow Jones Newswire)
Alberta will increase its royalties from energy companies in the western Canadian province's oil sands, a move that the industry warns could slow development of an increasingly important source of crude.
Alberta Premier Ed Stelmach said he decided to raise the total government take -- including all federal and provincial taxes and royalties -- from 47% of revenue
to between 56% and 66%, depending on the price of oil. He said he wanted to be "reasonable, not greedy" while making sure that energy investment continues but that residents are fairly reimbursed for the public resources."
http://www.rigzone.com/news/article.asp?a_id=52080
GM Stock Lobster. Good to see you back on board, but VERY good to see you taking some free time during the weekend.
GDOCF is moving. See the tanker board for news.
Xanadu
GM Stufffit. GDOCF (GOGL in Oslo) up 2.81% at NOK42.25 : 5.35 = USD7.90. Closed $7.60 on Friday in USA.
Those ships were cheap - USD52 million per ship. Apparently Big Wolf got a bulk discount by ordering 8 ships. But what we have learned in the past, he will sell 4 ships, when the delivery time approaches, and pay with that for the rest of the ships.
All that IMO, but can't help my starry eyes shining in waiting now for the dividends for 3Q and 4Q :)
GM Shippingfans. GDOCF news:
"GOGL - Acquisition of 8 Kamsarmax Newbuilding Contracts
Golden Ocean Group Limited ("Golden Ocean" or "the Company") is pleased to advise that the Company has acquired eight newbuilding contracts at Zhoushan Jinhaiwan Shipyard (Jinhaiwan) in China.
The vessels of 80.000 dwt will be delivered quarterly from September 2009.
The delivered cost for the eight vessels is estimated to be about $410 million in total."
FYI: Kamsarmax 82.000 DWT is a Panamax vessel with extended length to 229 meter and a little wider breadth. Kamsarmax is the biggest type of ship, which can be loaded/unloaded in Port Kamsar, Equitorial Guinea. Port Kamsar is the biggest shipping port of bauxite, ca 30% of world's production (bauxite is needed to make aluminium).
Quintana Maritime QMAR $27.50 has 14 Kamsarmaxes of its 29 bulkers.
http://norma.netfonds.no/release.php?id=20071029.Hugin.1163633
Norway and Russia to Work Together in Barents Sea
by Rigzone Staff
Rigzone 10/25/2007
URL: http://www.rigzone.com/news/article.asp?a_id=52025
StatoilHydro is now a partner in the first phase of the Shtokman development. The Norwegian company will hold 24% interest in Shtokman Development Company, while France's Total will have 25% and Russian Gazprom will keep 51%.
Offshore Russia in the Barents Sea, Shtokman field is the largest undeveloped offshore gas field in the world. Projected to contain about 3,700 billion cubic meters of natural gas, the field is expected to produce up to 23.7 billion cubic meters in the first phase, including LNG and piped gas.
"I am very pleased to see StatoilHydro as a participant in the Shtokman field," said Norwegian Prime Minister Jens Stoltenberg. "This will strengthen the Norwegian-Russian ties as neighbours and our strategic partnership in the energy sector in the High North. The participation also underlines our joint responsibility to ensure a sustainable management of the resources in the Barents Sea."
The Shtokman Development Company will design, fund and build any infrastructure necessary during the first phase, including offshore installations, pipeline, and onshore processing plants for LNG and piped gas. Under the agreement, the Shtokman Development Company will own any infrastructure for 25 years after the start of production.
"The agreement signed today will open a new page in our cooperation with the merged StatoilHydro," said Gazprom Chair Alexi Miller. "We have giant reserves of gas in the Barents Sea, while our partners from Norway have good experience in production and transportation of gas in harsh Arctic conditions. Our joint efforts will be the keystone of success in the Arctic."
Final investment decisions on the project are due the second half of 2009. Until then, StatoilHydro is responsible only for its share of the planning and study costs.
"Leveraging our technology, industrial experience and expertise from large offshore developments can provide long-term growth opportunities in Russia," said Helge Lund, CEO of StatoilHydro. "We believe Shtokman can be a catalyst for developing and adopting technologies capable of operating efficiently and environmentally safely in the cold and harsh conditions."
GM Wildbill. Drybulkers - look at the daily rates at the bottom! These are spot prices (1-10 days), but even the longer term prices for capes hover over $80.000/day.
BDI Oct.26 ATH 11.025!
- - -
Coal, Ore Freight Rates Climb to Record on China's Demand Gain
By Katherine Espina
Oct. 26 (Bloomberg) -- Coal and iron ore freight rates rose to a record for a fifth day on speculation China's economic growth will bolster demand for commodities.
The Baltic Dry Index, a measure of commodity-shipping costs on different routes and ship sizes, was at 10,994 yesterday, up 0.1 percent, according to the London-based Baltic Exchange.
Record purchases of commodities by China, the world's fastest-growing major economy, have congested ports and caused freight rates to more than double in the past year. China's economy, the biggest contributor to global growth, expanded more than 11 percent for a third quarter, the government said yesterday.
``The market is unbelievable as orders for shipyards are still very healthy and consumption of iron ore is huge,'' Alex Harkess, director for dry-cargo chartering at Clarkson Asia Pte in Singapore, said by phone today. ``There will be volatility but we don't see any change in the direction of freight rates. The final quarter will be extremely firm.''
Hiring rates for a panamax, the second-largest type of dry- bulk carrier, were at a record $91,975 yesterday, according to data on the Baltic Exchange. Charter costs for a panamax, which can transport 70,000 tons of cargo, have more than tripled in the past year.
Chinese steelmakers and traders are increasing iron ore imports in anticipation that prices will rise next year. The country became a net coal importer for the first time in January, prompting other nations to seek coal supplies elsewhere.
China, producer of one-third of the world's steel, imported 15 percent more iron ore, the main steel-making material, in the first nine months from a year earlier, the Beijing-based customs office said on Oct. 12.
Hiring rates for a capesize, which can move 175,000 tons of cargo, fell for a second day, losing $1,093, or 0.6 percent, to $182,829 yesterday.
To contact the reporter on this story: Katherine Espina in Singapore at kespina@bloomberg.net
Last Updated: October 26, 2007 01:41 EDT
Tanker rates. More information. Read:
TCE stands for Time Charter Equivalent, and is a revenue measure in US$/day. To understand the terminology, recognize that charterers can utilize a vessel in three different ways:
Voyage charter -- Use of vessel for one trip, say loading cargo in the AG and delivering in Singapore. (You can also have consecutive voyage charters and contracts of affreightment [COAs] for multiple voyages.) Here the charterer pays a specific US$/MT rate, or lump sum amount, for the voyage, and the owner is responsible for all expenses.
Time Charter -- Charterer utilizes a vessel for a set period of time, from 30 days to 7 years, paying a set time charter rate, expressed in US$/day. The charterer also pays for all voyage expenses, such as bunkers (fuel), port charges, canal fees and commissions. The owner pays for the operating expenses of the vessel, as well as the financing costs of the vessel.
Bareboat Charter (sometimes "Demise Charter") -- Here the charterer, called the beneficial owner, pays for the operation of the vessel and is responsible for manning, maintaining Flag and Class, insurance and employment of the vessel. The desponent, or true owner is responsible for financing costs only. Equivalent to a lease in some sense.
So when you see TCE on the boards, it reflects the calculation to take the revenues from a spot voyage charter and convert it to a time charter basis. That is, you take the voyage revenues (US$/MT rate x MT loaded), less voyage expenses of bunkers, port fees and commissions, and divide by the round-trip voyage days. You might also see bareboat charters converted this way by adding back operating costs per day.
Bunkers are the fuel for the massive diesel engines that power these vessels, and the name has lingered, nostalgically from the days when coal was stored in bunkers to fuel the vessels of that era. The bunkers are usually high-viscosity heavy fuel oil (380 cST is the normal viscosity), but a vessel will also burn marine diesel oil (MDO) in port for pollution control and better responsiveness / manoeuvrability on the engine. A VLCC's engine might be 35,000 bhp and will burn 90 MT/day at 15 knots laden. A Suezmax might have a 20,000 bhp engine and will burn 60 MT/day at 15 kts laden.
Flankseven
Geothermal energy. Remember also now bankrupt Calpine CPNLQ.PK 1.4 (should come out by January 2008), and Encore Energy Systems ENCS.PK 0.005.
Green Chip Review (a Newsletter) article October 26, 2007:
Steam-Powered Profits
By Nick Hodge
By now you've seen the Chevron commercial touting their research and investment in alternative energy, including geothermal power. And even though a major oil company is just now expressing its interest, the black sheep of the renewables world is one Green Chip accepted long ago.
Geothermal, unlike wind, solar, and biofuels, rarely gets a piece of the limelight. And that's something I've not been able to figure out.
After all, it's an emission-free power source that's not affected by the shifting availability of sunshine and wind. That means geothermal is capable of being a base load power source, like coal- and natural gas-fired plants.
And as such, it's become price competitive with traditional sources of power in many areas, including the Southwestern US.
It's for all those reasons that we've been extremely bullish on geothermal from the outset, boasting three geothermal plays in the current Green Chip portfolio.
Steam-Powered Profits
With oil having touched $92.22, renewable energy sources are looking increasingly promising. But even when oil was relatively cheap these geothermal stocks were still making their rise.
Now, with oil on the verge of $100, these plays are only going to go higher. Let's have a look.
Green Chip got in on Ormat Technologies (NYSE: ORA) all the way back in January 2005, shortly after the IPO.
We got in at $16.28 a share, and our readers are now sitting on gains of over 200%.
And, of course, you all know about US Geothermal (OTCBB: UGTH), one of the true darlings of the Green Chip portfolio. We alerted our readers to get into this stock back in July 2006, when the price stood at a mere $.80.
Now, with the stock holding in the high threes, Green Chip subscribers have attained gains of over 380%!
Plus, with coverage recently initiated on this stock by Pacific Growth Equities, we're confident US Geothermal will continue its climb.
We've also seen good gains from Raser Technologies (NYSE: RZ). Although this company was late to the geothermal game, our readers have seen a 90% increase in this stock over the past twelve months.
Just this week, the company announced plans to begin drilling a geothermal production well in central Utah's Escalante Desert for use in another 10 MW binary-cycle geothermal power plant. It will be the first geothermal power facility built in Utah in over 15 years, and should serve not only for electricity generation, but to power the stock higher as well.
The last stock I'll mention is Nevada Geothermal (OTCBB: NGLPF), which, although it isn't in the Green Chip portfolio, has been featured for gains in our Alternative Energy Trader.
The company has been announcing great performance test from their properties and estimates it can produce up to 200 megawatts of power from the land it currently holds. The Street has been responding positively to this company lately, and at such a low price, it certainly has plenty of room to grow.
Don't Fret Just Yet
I know you've just seen quite a few geothermal plays that have already made significant gains. But don't worry, there are still plenty to come.
As the world continues to exploit all possible alternative options to produce power, geothermal will certainly emerge as one of the clear winners. And as long as there are profits to be made, Green Chip will continue recommending winning geothermal stocks to its readers.
In fact, we have our eyes on a few up-and-coming geothermal companies right now.
Be sure not to miss the next round of geothermal gains. As you've just seen, the three geothermal companies in our portfolio have already netted gains of 200%, 380%, and 90%, respectively.
You can sign up today to make sure you don't miss another recommendation. Just click here.
Until next time,
Nick
FREE. Some DD.
FreeSeas has 3 Handysize (ca 25.000 DWT) and 1 Handymax (47.777 DWT) vessels now, and 1 Handysize ("Free Goddess") should join the fleet in Set/Oct 2007 (not delivered yet). The announcement should come soon now.
They have had a bit unluck: their Handymax "Free Jupiter" drove on ground in September and will be dry-docked untill end of November! This can also be a reason they need money now, but not that much: 11.0M shares á 8.25 = ca $90M. Looks like they are going to buy something.
After dry-docking, "Free Jupiter" will be time-chartered for three years at $32.000, $28.000 and $24.000.
2Q/2007 they had revenues $3.6 M, net 1.7M (year 2006 the results were still negative). One of their ships had its compulsatory survey and dry-docking time in 2Q, which had a negative effect on their earnings, but anyway they managed to have EPS $0.27.
A/S 40 M, O/S 6.91M float 1.89M
Interesting to see their 3Q results. Last year they were released on November 14th.
Stuffit. BEIC.ob Beicang Iron & Steel. From a SEC filing. Looks a lot shady at least at this phase:
Overview
Beicang Iron & Steel Inc., ("we, "us," "our," or the "Company"), was incorporated in the State of Colorado in 1983 under the name "Turco Computer Systems, Inc." In February 2002, we changed our name to Alpha Spacecom, Inc. following a share exchange transaction. In June 2005, we became a Nevada corporation after merging with our wholly owned subsidiary, Alpha Spacecom, Inc., a Nevada corporation.
On April 8, 2006, we entered into a merger agreement (the "Merger Agreement") with East Glory Investments Group Limited, a Cayman Islands corporation ("EGIG") that has its principal place of business located at 8/F, Beicang Building, No.76 Jianshe North Road, Taiyuan City, Shanxi Province, PRC. EGIG owns 100% of Trinity Link Holdings Ltd. ("Trinity Link"), a British Virgin Islands company, which in turns owns 100% of Shanxi Bestlink Management Consulting Co., Ltd. ("Bestlink"), which is a wholly foreign owned enterprise under the laws of the PRC. Pursuant to the Merger Agreement, we issued an aggregate of 899,196,930 shares of our Common Stock (representing approximately 90% of all shares outstanding after the Merger) to the shareholders of EGIG and, in exchange, EGIG merged with and into the Company (the "Merger"), with the Company being the surviving company. Pursuant to and concurrent with the Merger, we have also acquired all the issued and outstanding share capitals of Trinity Link and Bestlink. This Merger was successfully consummated on October 25, 2006, and in connection therewith, the Company further changed its name to "Beicang Iron & Steel Inc." to reflect its current business operations.
GM Stuffit. "Major Chinese Stainless Steel Producers to Raise Prices in November"
BEIC.OB $0.018 is a Chinese steel maker. No idea what it really is, but maybe worth taking a look.
GTEC. Did you keep any overnight? I left a small part to me. Do you think it has strength fo rise today?
King of All Daytraders asks (no laughing here, please)
FREE. From Yahoo, 2Q figures:
O/S 6.91 M, float 1.89 M, held by insiders 68.9%, cash 7.67 M USD(I guess), total debt 18.56 M USD(I guess)
Sounds quite reasonable, or what do you think?
Open the link, good charts in there (cannot post them. sigh.)
Beyond Fundamentals 10/19/07
It appears that those who initially predicted the days of $100 barrels of oil may soon be able to say “told you so.” Back in April 2005, we wrote a Weekly Opinion entitled “$100+ Per Barrel Crude: April Fool?” This Opinion focused on a report wherein Goldman Sachs analysts predicted price levels of such magnitude. In the past few weeks the price of crude broke into the $80 per barrel price range, above where it had generally remained for most of the second quarter, before pushing its way toward $90 per barrel. The chart below shows the price for West Texas Intermediate (WTI) on a year-on-year comparison with 2006.
http://www.poten.com/?URL=show_articles.asp?id=636&table=tmarket
I think they want money to grow, to buy more ships. They did not say anything about paying back debts. The reaction in stockmaket was typical, and in a couple of days nobody will remember.lol
This may be good opportunity to buy - before they tell about possible acquisitions.
Read my post about SDRL on the Tanker board tis morning.
BQI. They confirmed at the Annual Meeting that they are fully financed up till next April, through the winter drilling period. But - as we know - they have long way to go before starting to get earnings.
I'm still happy if as a shareholder I'm sitting on 1,5 million barrells of bitumen - by now. They still have 95% of the leases to further explore...
As we discussed with Wildbill I trust Chris Hopkins and hold on and keep adding. Just look at their website what they have achieved - not an easy job.
In a long term investment the management is the most important thing to me.
SDRLF.PK Big Wolf on move again. "SDRL intends to issue up to US$900 million in principal amount of convertible bonds with a five year tenor." Now, everybody is guessing, which one of the rivals will be bought up. Most voted: Ocean Rig (OCR) and PetroMena (PMENA). Oh boy, you never have time enough to get bored with this guy.
Analyst: "Seadrill - BUY - Target NOK 150
The Seadrill stock is being pushed down by hedge funds wanting to lower the strike price for the convertible loan of USD 900m that will be fixed today at 40 - 45% above today's share price.
This gives an excellent opportunity to BUY the Seadrill stock, as we should see a rebound on Monday when the pricing has been set.
The USD 900m will also act as important financing for the company which could also increase their dividend capacity short term, as it will enable the company to increase the gearing.
We spoke to Seadrill today, and they are very BULLISH about the market outlook, and if the Ocean Rig rigs now will be taken out, Seadrill will have the next deepwater capacity available and be in an excellent position to secure very high rates."
ALEX $50.57 Alexander & Baldwin 3Q Earnings Soar
Friday October 26, 6:43 am ET
Alexander & Baldwin 3rd-Qtr Earnings Jump 76 Percent on Gains From Three Property Sales
HONOLULU (AP) -- Alexander & Baldwin Inc., which provides ocean transport and logistics services, said Friday its third-quarter earnings soared 76 percent on real estate segment strength driven by three property sales.
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The company earned $49.1 million, or $1.14 per share, compared with $27.9 million, or 65 cents per share, in the year-ago quarter.
Revenue rose 3 percent to $434.7 million, from $421.2 million in the prior-year period.
http://biz.yahoo.com/ap/071026/earns_alexander_baldwin.html?.v=1
LNG (Liquefied Natural Gas) carriers are also an interesting sector in shipping industry. LNG is predicted to be a major factor in world's energy industry "after oil".
LNG carriers in our Tanker Stock List are LNG $40.40, GLNG $25.83 and TGP $32.37. GLNG and TGP pay dividends of size ca $0.50 (Check!).
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Poten & Partners monthly publication: LNG in World Markets.
Floating LNG Production Attracts Renewed Interest
Offshore liquefaction is staging a strong comeback, attracting interest from a wide range of
companies and expanding the net of potential participants beyond the traditional LNG “club.” On
September 19, two different groups unveiled plans to develop floating production and storage
operations for LNG. The first announcement came from a consortium consisting of ship owner
Höegh LNG, Aker Yards and ABB Lummus Global. This was followed on the same day by a
similar statement from offshore specialists SBM Offshore and the German engineering and
technology company Linde AG. Rumors also abound that Flex LNG may declare an option on a
third ship, following the signature of a Memorandum of Understanding with an unidentified energy
company for one of its M-Flex LNG Producer vessels (see related story above).
Höegh’s FPSO (edit: Floating Production Storage and Offloading) project is for a ship-shaped structure capable of processing up to 2.5 Bcm/y of
feedgas to produce 1.6 MMt/y of LNG and 0.5 MMt/y of liquid petroleum gas. It will have
capacity to store 180,000 cubic meters of LNG and 30,000 cubic meters of LPG. Aker is
responsible for the hull, storage and utility systems while Lummus will provide the design for the
gas processing, liquefaction and LPG facilities. The FPSO will use the proprietary NicheLNGSM
turbo expander liquefaction process developed by Lummus, while LNG storage will be in Aker’s
proprietary SPB-type Double Barrier Tank containment system. Pre-feasibility studies on the
concept are underway and the sponsors say the first unit could be delivered as early as 2011.
The FPSO planned by SBM and Linde is
slightly larger. It would use the German
firm’s Multi-Stage Mixed Refrigerant process
to produce 2.5 MMt/y of LNG plus LPG and
condensate byproducts from stranded gas
reserves as small as 1 Tcf. The structure will
have 230,000 cubic meters of SPB-type
containment for LNG and liquid byproduct
storage. SBM Offshore has commissioned
Japanese ship builder IHI to undertake basic
hull design. The long-term agreement also
requires IHI to offer capacity at its Aichi
works for an early project. SBM has started
its global marketing effort and hopes to have
a unit onstream by 2012.
London-based Flex LNG plans to use at least one of its new builds as a production ship for a
project based in the Asia-Pacific region. Flex announced the conclusion of its second private
placement on September 7, increasing the amount of funds raised to $220 million. The new
financing will be used for down payments on two 90,000 m3 ships being built by Samsung Heavy
Industries for delivery in 2010 and 2011 (see LNGWM, Jun ’07). Other companies considering
floating LNG projects include BW Offshore, Exmar and LNG Partners. Although most schemes
require new builds or custom barges, some players are considering the use of existing vessels.
Such schemes will need to balance the cost benefits associated with accessing fully depreciated
ships against potential sloshing issues for vessels with membrane storage tanks and, in the case of
spherical Moss-type ships, a shortage of available deck space for processing equipment.
Interest is almost exclusively concentrated on small stranded gas fields, rather than the large-scale
projects contemplated by the major oil firms in the past. The proposed facilities all hope to tap
structures that are either too small or too isolated to support a baseload project. Other potential
advantages include a sharp reduction in upstream development costs and the system’s portability, which could allow a single unit to process gas from several fields within its working life. Reduced
project size and potential ship-like leasing arrangements for the floaters also promise to increase
the list of potential participants and the viable resource base for development. Finally, project costs
and timelines may benefit from the application of shipyard construction techniques and established
skilled labor forces.
But the concept faces a number of technical and commercial hurdles as well. Stringent feedgas
quality requirements, demanding the removal of almost all carbon dioxide, hydrogen sulfide and
heavier hydrocarbons, will require installation of extensive pretreatment facilities, particularly if
the FPSO exploits several different gas fields. All offshore systems must perform efficiently in
pitching seas – a tough requirement for some of the absorption and separation columns required for
acid gas and LPG separation units – and are subject to extremely strict design codes. Floating
projects will also have to reconcile the production profiles from depleting gas fields with the need
for steady feedgas conditions and rates.
Cost signals for offshore development are mixed. While ship building costs have not risen to the
same extent as those for liquefaction plants, offshore exploration and development projects are
subject to many of the same pressures experienced on this side of the business. It remains to be
seen whether these ventures are viable at Henry Hub prices of $5 to $6/MMBtu. However, the
major challenge facing these projects will continue to be the same one facing many gas
monetization technologies: finding upstream partners with sufficient natural gas reserves. With the
exception of Flex LNG’s recent MOU, no other project has given any indication that it has lined up suitable candidates on the upstream side. No one has secured buyers for the LNG output produced from these FPSOs either, although this should not be a problem once the other elements of the project are in place.
Volatility in tanker market. Open the link to see the graphs.
BTW Poten & Partners is also a good site of information about the whole marine industry.
Volatility Redux 9/15/07
Owners of tankers are accustomed to weathering spot markets with occasionally bouncy and volatile rates. An analysis of ten year’s worth of Arabian Gulf to Far East VLCC Worldscale rates, however, suggests that since 2002 swings in these rates have grown noticeably greater than those of the prior five years. From the following chart, compared to the period 1997 to 2002, the standard deviation – as a gauge of volatility – of monthly rates from 2003 through August 2007 is nearly 60 percent higher.
http://www.poten.com/?URL=show_articles.asp?id=629&table=tmarket
GM Wildbill. BP has been in trouble for a long time. It went to Russia with sturm und drang, and came back with empty hands and millions of losses. Lord Browne, the CEO, had to resign after scandalous behaviour, even if he blundered in his private life.
Oil exploration is done on West Africa's coastal areas (Angola), and they are working with Exxon on the Thunder Horse project on Gulf of Mexico. Thunder Horse is expected to be the biggest oil discovery in GOM area, deepest drilled subsea oilwell ever. Interesting to hear, what they find.
BP has invested quite a lot in green technology - solar and windpower - all over Europe.
North Sea oil resources are practically finito, at least on BP's part.
BQI. This may be the reason for the recent rise of BQI price:
"Alberta raises royalties by $1.4 billion starting in 2009
TORONTO_The oil-rich Canadian province of Alberta said it is increasing royalties from the energy industry by about 25 percent less than what a government-appointed panel recommended last month."
http://www.poten.com/?URL=show_articles.asp?id=633&table=tMarket
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Waiting for the independent consultant's (Norwest) estimate of the last winter drilling (150 holes) of Axe Lake Discovery area (= 1 township of their ca 30 townships exploration area, ca 5% of their land holdings).
Here are the management's predicts:
Axe Lake Discovery area: Management's estimate of OBIP for Axe Lake is 1.4 to 1.5 billion
barrels and its estimate of additional resource potential for Axe Lake is 0.7 to 1.3 billion
barrels, for a total potential bitumen resource of 2.1 to 2.8 billion barrels. (This total estimate
has been rounded to 2.5 billion barrels for ease of reference). The independent consultant’s
estimate of OBIP for the Axe Lake Discovery will be completed in the fall of 2007.
If these numbers are true I'm happy. Still, the management has always been a bit conservative in their estimates...
Drilling stocks are good investments now. They have long contracts with fixed high income for many years. Somebody needs to find out the rest of profitable oil. BP just announced that their production is diminishing and they add their exploration budget.
Yes. I got my two braincells to make a good DAYTRADE!.
Perhaps I've at last learned something in these six months, professor. Thank you :)
I hope somebody gets encouraged from my post; it IS possible. If I can make it, you can make it too.
Thank you :)
You know that in all long time investments the most important thing is the management of the company. That is the thing that has kept me in FRO, GDOCF, SDRLF and now DOCK (Dockwise, the heavylift shipper) for years, and not many disappointments have I had with these investments. Mr. Fredriksen keeps himself 30% stake of shares in all his companies, and you bet he treats ALL shareholders as well as himself :)
That's why I also own BQI: I trust Chris Hopkins.
Shipping market is very volatile, especially oil tanker stocks due to the seasonality of the oil market in general. Daily rates of tankers are now extremely low, but the tanker share prices have stayed stubbornly high. Evidently because the rates are beginning slowly to turn up, when the busiest times for tankers - October to March - is winding up. Look at the 3Q results of tankers (FRO, TK, OSG, TNP, GMR, NAT, TOPT, VLCCF, SFL) released in the near future, and read especially the forward looking statements of the management, if there is any.
Dry bulk shippers have now good markets, and the good times for hauling coal, iron ore, grain etc. are expected to continue at least for a couple of years - some say even for longer time. No wonder when China is building over 500 new coal power plants, and there are other strongly growing markets - India, Russia, Brasilia, Malaysia, Indonesia. There are several good companies in this sector: DRYS, DSX, QMAR, EXM, FREE, OCNF, EGLE, GNK, GDOCF.PK.
Shipping companies in general pay good dividends, and the dry bulkers have good times now. Dividend payers at least are: FRO, GMR, DRYS, GDOCF, SFL, OCNF, EXM. Read the quarterly reports from last couple of quarters of the companies you are interested in and see, what they have done and what kind of dividends they have paid during the past. Naturally the dividends are not always of the same size year after year.
Buy shares of good dividend paying companies and do not bother so much for the volatility. The quarterly paid dividends also cause volatility. Buy small amounts in dips, and collect a good bunch of stocks, which will by and by start to bring you good quarterly dividends.
FYI: STX Pan Ocean is already trading on grey sheets
SPNOF.PK last trade $2.55 vol. 627
This a South-Korean shipping company - 47 of their own 59 vessels are dry bulk carriers, all ships rather small and old. Newbuilds ordered 24, most of them bulkers.
Most of their chartered vessels are dry bulk ships too. The company seems to be well integrated in the Asian market, they have many regular "liners".
Already profitable. Net profit $129,389 from 2006.
This could be an interesting shipping company to follow in Asian market. Take a look:
http://www.panocean.com/app/stx/stx_overview.asp
Here's link to the parent company STX Corporation:
http://www.stx.co.kr/english/main.aspx
BQI has been climbing. Maybe the resource confirmation is coming, worth keeping an eye on that what it says.