Posts for Ticker ‘SB’

Dry Bulk Shipping Stocks Rally

Tickerspy’s Dry Bulk Shipping Stock Index (*DBULK) rose 5.1% today, beating the S&P 500 by 1.3.%.  Dry shipping stocks were given a boost by upgrades today.  Deutsche Bank upgraded Genco (NYSE: GNK), Euroseas Ltd (NASDAQ: ESEA), and Eagle Bulk Shipping (NASDAQ: EGLE) today.  All three made major moves today.

Over half of the dry shipping stocks in the Tickerspy index has risen over 100% off of their 52-week lows.  The industry was placed in serious jeopardy as global trade entered a state of decline during the credit crunch.  Shipping rates fell dramatically as recently as this summer, but have been on the rise in recent months.

Garrett W. McIntyre

Posted on: November 16, 2009 – 4:39 pm in Transports, , , , , , , , , , , , , , , ,

Shipping Stocks Try To Find Safe Harbors (SFL, FRO, OSG, NAT, SB, SEA)

Cargo_ship_picIt is no secret that shipping stocks have been horrible performers of late.  In fact, they have made the dismal performance seen at some trucking companies look like trucking was a blue chip sector. 

A recent industry contact told us just how bad the shipping business has gotten.  A ship leased in May for a China departure was leased at more than 10-times the day rate that the same ship leased for in mid-October.  His comment was that it felt as though China was going to return to farming rather than building infrastructure and manufacturing facilities.

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Posted on: November 4, 2008 – 11:40 am in ETF, Trading Alert, Transports, , , , , ,

Growing List of Damaged Post-IPO’s (SB, NM, RSOL, RAX, IPI, WES, PSE)

Down_arrow_redWe would be reporting the economic numbers from the government’s Department of Redundancy Department if we said it is an ugly bear market and if we told you that the IPO market was all but dead.  But what is amazing here is the absolute poor performance we have seen out of the 2008 post-IPO companies.  Many of these companies are still doing well, and some are not.  But in our screen of the big IPO’s there is an astonishing number of post-IPO’s that are trading much worse than just busted IPO’s by being under the IPO price. 

Our list of 2008 IPO’s here was 30% and a somewhat active stock volume.  Below is the list of post-IPO’s we track with shares down more than 30% from the IPO price:

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Posted on: October 7, 2008 – 4:17 pm in Uncategorized, , , , , , ,

IPO FILING: Safe Bulkers (SB)

Late Friday afternoon, a filing came from Safe Bulkers, Inc. for a proposed IPO of its shares.  The company has applied for the ticker "SB" on NYSE.  Pricing indications are 10 million shares in a price range expected of $20.00 to $22.00 per share.

The lead underwriters are listed as Merrill Lynch and Credit Suisse; and co-managers are Jefferies & Company, Dahlman Rose & Company, Poten Capital Services, and DnB NOR Markets.

As you could guess by the name, it is a shipholding company.  Safe Bulkers is an international provider of marine drybulk transportation services based in Greece, transporting bulk cargoes, particularly grain, iron ore and coal, along worldwide shipping routes for some of the world’s largest consumers of marine drybulk transportation services.  Its current fleet of 11 Japanese-built drybulk vessels, with an aggregate carrying capacity of 887,900 deadweight tons (“dwt”), has an average age of 2.6 years as of December 31, 2007 and one of the world’s youngest fleets of Panamax, Kamsarmax and Post-Panamax class vessels.

All of the shares of common stock being sold in this offering are being sold by Vorini Holdings Inc., our sole stockholder.

You can join our open email distribution list to hear about other IPO’s, secondaries, financings, spin-offs, and mergers.

Jon C. Ogg
May 19, 2008

Jon Ogg produces and edits the "10 Stocks Under $10" newsletter and he does not own securities in the companies he covers.

Posted on: May 19, 2008 – 7:27 am in IPOs, Transports,