The greatest earning potential of all the dry bulkers during the recent ongoing recovery of the BDI. Have accumulated my latest position up to 11.41. Will likely leave at 15.or so.
Sentiment: Strong Buy
Stifel upgraded Navious Maritime to reflect benefits of falling iron ore prices that has resulted in improved Capesize dry build demand. Price target is $14.
It seems that slowly actual earnings are setting tone to real valuation, NM is hard sell above $8, and that is assuming they start making profit at least in 2015.
Anyone to share thoughts?
Capesize-ratene doblet på en drøy uke
Capesize-ratene stiger videre. På en drøy uke har de steget over 100 prosent.
Baltic Dry-indeksen stiger 4,3 prosent til 1.543 poeng fredag.
Capesize 24.243 dollar (+ 8,7 prosent)
Panamax 8.651 dollar (+ 1,8 prosent)
Handysize 9.654 dollar (+ 0,1 prosent)
Supramax 11.831 dollar (+ 0,9 prosent)
Even with Capex, Baltic, Dry bulk, China moves (ALL Rosy & only positive predictions), NM seems overvalued even @ $8 with a small profit that they are still to make.. while still in red and way below estimates.
Just curious, pls share..
Baltic Dry-indeksen stiger 6,4 prosent til 1.480 poeng torsdag.
Capesize 22.295 dollar (+ 15,7 prosent)
Panamax 8.502 dollar (+ 0,3 prosent)
Handysize 9.641 dollar (+ 0,3 prosent)
Supramax 11.727 dollar (+ 0,5 prosent)
The NM Q4 presentations says Antares had been at 12,350/day till 2/28/2014 - so unless AF just chartered it to someone else who just rechartered to Cargill - then it could be a direct charter. Wrt Etoile - THAT one is listed as chartered through December 2020 at 29,356 + P/S already. The NM Q4 lists 6 capes with charters expiring in 2014.
Per TW - though they have been known to jump the gun:
On Wednesday the Baltic Exchange noted there are rumours that a cape controlled by Navios Maritime Holdings (Navios) of Greece was fixed for $30,000 a day.
In a daily market note the organisation said the 179,200-dwt Navios Etoile (built 2010) was taken for a year but admitted the identity of the charterer isn’t clear.
Brokers claim Cargill paid $29,000 per day for the 169,053-dwt Navios Antares (built 2010) in a fixture with the same duration but noted the cape was relet to the charterer, which means it’s unlikely that Navios is poised to profit from this transaction.
It is also widely believed that the same commodities trader picked up the 203,100-dwt Newmax (built 2012) from Athens-based bulker operator Transmed Shipping for 24 months at a rate of $31,000 daily, the Baltic Exchange told members today.
March 6, 2014
NM Navios Maritime upgraded to Buy from Hold at Stifel. Stifel upgraded Navious Maritime to reflect benefits of falling iron ore prices that has resulted in improved Capesize dry build demand. Price target is $14.
download one of the NM earnings powerpoint presentations. Lays out NM corp. structure, in pictures, with charts and arrows. Simplest way to view relationships between NM, NMM, NNA, and NSALI. There are some other moving parts also, like NM Europe, NM Asia. But I think those are fully owned by NM, not really sure.