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EXCEL MARITIME CARR Message Board

play_tow 207 posts  |  Last Activity: 3 hours ago Member since: Dec 16, 2004
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  • Reply to

    So Quiet

    by bender_32 3 hours ago

    strong today....probably BIIB surge lifting sector overall.

  • Reply to

    Seasonality of BCI

    by everyone_stand_back Jul 20, 2014 9:59 PM
    play_tow play_tow Jul 21, 2014 10:12 AM Flag

    Cape time charters for 1-3 yr duration continue to secure above $20,000 rates.

  • play_tow play_tow Jul 17, 2014 10:07 AM Flag

    Concerning Capes and Spot......Look at the recent 18-month Cape charter that DSX did for about $24,000/day.

    The spot listed is much lower than the various "pools" that the owners use, and fails to reflect the "solid" and stable rates still being set for term charter fixtures.

    Obviously, if spot were to dictate the earnings solely, the shares of DSX and others would be much lower....

  • Reply to

    POZN Agrees to Product Labeling for PA

    by play_tow Jul 16, 2014 10:23 AM
    play_tow play_tow Jul 16, 2014 2:47 PM Flag

    There is no reason to believe, from the info that we have as investors, that the deficiencies are not satisfactorily addressed. Here is what POZN stated in their resubmission PR on 1 July:

    "“Our API supplier has been working to respond to the observations contained in the FDA inspector’s report. We recently completed our own onsite audit, and we understand that the supplier has now submitted a supplement to its May 9, 2014 initial response to the FDA,” said John Plachetka, chairman, president and CEO. “Based upon the available information, we believe there are actions in place that address the deficiencies noted by FDA.”

  • The cost of hiring oil tankers in the North Sea jumped by a record amid speculation that companies are seeking the vessels to stockpile cargoes at sea as future crude prices incentivize the trade.

    Rates for Aframaxes to ship 80,000 metric tons of crude, about 600,000 barrels, surged 54 percent to 170.50 Worldscale points, according to the Baltic Exchange in London. The increase is the largest in a single day since at least 1998, excluding at the start of trading each year when the Worldscale price system is reset to take account of changes to fuel costs and port fees.

    Brent futures for September jumped 64 cents to $107.49 a barrel today, about $1.35 more than August contracts, according to data on the ICE Futures Europe exchange. When the gap between immediate and later prices gets wide enough, it sometimes covers the cost of hiring ships and selling the oil later at the higher price. The difference between the two months widened amid signs that supplies from Libya may rebound following a yearlong blockade of the nation’s eastern ports.

    VIDEO: North Sea Wind Deal Powers Renewable Energy Funding
    “I have spoken to many owners and the reason is that there are a lot of cargoes in the market but no ships to store them,” Haykel Sahraoui, an analyst at Geneva-based shipbroker Riverlake Group, said by phone.

    Today’s surge in shipping rates also drove up the amounts owners earn from charters. Day rates for Aframaxes in the North Sea climbed more than threefold to $66,039 and have risen almost eightfold in a week.

    Analysts at Bank of America Corp. and Energy Aspects Ltd. said in the past two days the current oil-price curve, known as a contango structure, is sufficient to encourage floating storage, a trade once used by companies including BP Plc and Citigroup Inc.

    VIDEO: Rupee to Withstand Oil Shock: RBI Advisor
    JBC Energy GmbH said yesterday the contango needs to widen further while Dynacom Tankers Management, a Glyfada, Greece-based tanker owner, no vessels had been booked for storage. The August Brent crude future expires today. The difference between September and October prices is about 23 cents.

  • play_tow play_tow Jul 16, 2014 2:15 PM Flag

    I think this is a good summary.

    It is possible that TNP could position some of their Panamax for dirty haul to take advantage of rates.....is there any indication to that effect?

  • It may be irrelevant (or maybe not), but Summer Street has recently been co-managers on the March 2014 share offering.

    _______
    Flamel Technologies, S.A. (NASDAQ: FLML) today announced the pricing of an underwritten offering of American Depositary Shares (ADSs), representing 10,800,000 ordinary shares, at a price to the public of $9.75 per ADS. All of the ADSs in this offering are to be sold by Flamel. Flamel has granted the underwriters a 30-day option to purchase up to an additional 1,600,000 ADSs to cover over-allotments, if any, in connection with the offering. The offering is expected to close on March 12, 2014, subject to customary closing conditions.

    JMP Securities is acting as the sole book-running manager of the offering. SunTrust Robinson Humphrey, Ladenburg Thalmann & Co. Inc., Roth Capital Partners and Summer Street Research Partners are acting as co-managers of the offering.

  • It looks like Summer Street's Jim Molloy is making strong ongoing pitches for FLML...

    _____________________
    FDA change on neostigmines could be significant for Flamel, says Summer Street
    Summer Street notes that the FDA has changed its drug shortage website and now lists Flamel Technologies' Bloxiverz as the "first and only" approved neostigmine, which the firm thinks may mean that the FDA could be taking action to remove unapproved neostigmines from Fresenius or West-Ward Pharma. Summer Street thinks this change could be a "hugely significant" milestone for Flamel and its Eclat strategy and reiterates its Buy rating and $24.75 price target on the share.

  • Summer Street's Jim Molloy had darted coverage on 9 April 2014:

    _________
    Summer Street initiates coverage on Flamel Technologies (NASDAQ: FLML) with a Buy rating and a price target of $25.00.

    Analyst Jim Molloy comments, "FLML is a specialty pharmaceutical company that is at the exciting transition point to an earnings and cash flow positive story after many years of losses. Bloxiverz for reversing the effects of muscle blocks rolled out in 4Q13/1Q14, and we anticipate additional near-term accretive approvals through 2014-2016 from FLML's Eclat portfolio, with its internally developed pipeline expected to mature in 2015+ with products targeting some of the largest markets in pharmaceuticals. FLML has multiple shots on goal following the near-term EPS drivers, and we believe FLML is well positioned to continue to drive shareholder value in 2014 and beyond."

  • play_tow play_tow Jul 16, 2014 12:33 PM Flag

    TNP Panamax are clean product carriers (not crude), and 5 of them went on 3-yr chartered (last yr) at rates of about $16,000/day.

    The dirty Panamax rates are largely irrelevant for TNP operations.

  • It appears Wall Street speaks louder than Summer Street. The later's $25 target is being dissed by the former, who have driven the shares down 7% from its trading position on Monday.

  • Reply to

    POZN Agrees to Product Labeling for PA

    by play_tow Jul 16, 2014 10:23 AM
    play_tow play_tow Jul 16, 2014 11:03 AM Flag

    as is your reply.....

  • Perhaps lost among the chatter, it is worth noting that the PR today states the following:

    "POZEN has agreed substantively to FDA’s most recent draft product labeling."

    On April 25, after receiving the CRL, POZN STATED "Final agreement on the draft product labeling is also pending."

    This is a significant step no to be overlooked, since labeling can undercut the sales potential for an approved drug. This clearly will not be the case with PA.

  • Reply to

    $25 Price Target(7-16-14)

    by carylindsay1443 Jul 16, 2014 9:10 AM
    play_tow play_tow Jul 16, 2014 9:23 AM Flag

    Strong affirmation....

  • The morning quotes are not as low as might have been expected.

    The ongoing delay is frustrating.

    Of course, this is where the likes of Peter Lynch made the fortune for Magellan Fund....patience and sinking with the underlying investment thesis long term.

    Nothing changed in that thesis overnight with the Class 2 FDA review (had hoped for,a faster, Class 1).

    Many seems to have recognized that, hence the modest but not severe sell off this AM

  • Reply to

    Yellen Calls Out Expensive SmallCap Bio Today...

    by play_tow Jul 15, 2014 11:14 AM
    play_tow play_tow Jul 15, 2014 11:35 PM Flag

    Agreed.....very odd....outside their mandate

  • Reply to

    We should know something soon....

    by k10martin Jul 15, 2014 3:40 PM
    play_tow play_tow Jul 15, 2014 3:56 PM Flag

    Yes, soon. Probably 14 "Business" days....so we might not hear till next week....

  • ""Valuation metrics in some sectors do appear substantially stretched-particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year," said remarks in the full policy report accompanying Yellen's testimony."

  • play_tow play_tow Jul 15, 2014 8:54 AM Flag

    Yes, you should flee this sector.

    You should sell your house and short bulker stocks.

    Thanks

  • Reply to

    Canaccord

    by firemon2001 Jul 9, 2014 2:22 PM
    play_tow play_tow Jul 14, 2014 10:29 AM Flag

    NAT fleet has been consistently maintained, surveys met....so these vessels are not going to scrap soon.

    But even for scrap, these vessels carry fairly large value given steel costs....

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