Shipping — August 2023
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KLAVENESS COMBINATION CARRIERS: Fearnley kutter kursmålet til NOK 90 (100), gjentar kjøp. SEB kutter til NOK 105 (110), gjentar kjøp. DNB kutter til NOK 104 (109), gjentar kjøp.
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RESULTATKOMMENTARER FRA MEGLERHUS: Hafnia bedre enn forventet. Siem Offshore klart bedre
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FRONTLINE: Deutsche Bank nedgraderer aksjen fra kjøp til hold med uendret kursmål NOK 182. Pareto øker til NOK 251 (230), gjentar kjøp. Fearnley øker til NOK 250 (240), gjentar kjøp.ABG øker til NOK 317 (302), gjentar kjøp.
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Danske Bank kutter til NOK 245 (250), gjentar kjøp. Arctic kutter til NOK 251 (271), gjentar kjøp. Evercore øker til NOK 246 (235). Kepler øker til NOK 292 (271), gjentar kjøp.
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PARETTO: $HAFNI - We raise our estimates after another convincing quarter. At a ~20% yield, 0.8x NAV and P/E 3.6x we do not believe equity markets fully value this.
BUY, TP to NOK 88 (84) – 1x our one-year forward NAV
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HAFNIA TANKERS: Danske Bank øker kursmålet til NOK 95 (90), ABG øker til NOK 110 (104), Pareto øker til NOK 88 (84), DNB øker til NOK 80 (76) og Arctic kutter til NOK 92 (97) mens Nordea og Fearnley opprettholder hhv NOK 93 og NOK 90. Alle sier kjøp.
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BWLPG: BW LPG's Financial Results for Q2 2023
29.8.2023 07.02 • Oslo Børs •
(29 August 2023)Highlights and Subsequent Events
- Achieved VLGC freight rates of USD 51,600 per calendar day with 99% commercial
utilisation
- Generated Net Profit after Tax of USD 78.2 million or an earnings per share of
USD 0.59
- Generated trading-profit-adjusted result[1] of USD 112 million and declared Q2
2023 dividend of USD 0.81
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Generated trading-profit-adjusted result[1] of USD 112 million and declared Q2
2023 dividend of USD 0.81
- Concluded the sale and delivery of two vessels, generating USD 113.5 million
in liquidity and a net book gain of approximately USD 26.6 million.
- Added one vessel to the pool fleet and completed purchase option of another
vessel
- Board has resolved to work towards a dual US listing[2]
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Financial Performance
BW LPG Limited ("BW LPG", the "Company", OSE ticker code: "BWLPG.OL") reported a
Q2 2023 Net Profit After Tax of USD 78.2 million, yielding an annualised return
on equity of 28% with USD 194.9 million of free cash flow. EBITDA was USD 107.6
million, and earnings per share was USD 0.59. Adjusting for trading profit, BW
LPG reported a result of USD 112 million for the quarter, equivalent to USD 0.81
per share.
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Net leverage ratio remained low at 19.4% in Q2 2023, mainly due to solid cash
flows from operations and investing activities. Available liquidity was USD 492
million at the end of the quarter. On the back of another strong quarter, the
Board has declared a cash dividend of USD 0.81 per share amounting to USD 107
million.
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Net leverage ratio remained low at 19.4% in Q2 2023, mainly due to solid cash
flows from operations and investing activities. Available liquidity was USD 492
million at the end of the quarter. On the back of another strong quarter, the
Board has declared a cash dividend of USD 0.81 per share amounting to USD 107
million. This translates to a 100% payout ratio as a percentage of results for the quarter after adjustment for trading profits.
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BW LPG Limited ("BW LPG", the "Company", OSE ticker code: "BWLPG.OL") provides
the following key information relating to its cash dividend for Q2 2023.
Dividend amount: USD 0.81 or NOK 8.668 per share
Last day the stock is trading including the right to receive this dividend: 31
August 2023
Ex-date: 1 September 2023
Dividend payment date: 15 September 2023
Date of approval: 28 August 2023
Record date: 4 September 2023
:
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Nedtur for BW LPG
BW LPG tjener fortsatt rått med penger, men rederiet nådde ikke opp til det knallsterke resultatet i første kvartal.
Publisert 29. aug. 2023 kl. 07.20 https://www.finansavisen.no/shipping/2023/08/29/8031921/nedtur-for-bw-lpg?internal_source=sistenytt -
Golden Ocean Group Limited (NASDAQ/OSE: GOGL) (the “Company” or “Golden Ocean”), the world's largest listed owner of large size dry bulk vessels, today announced its unaudited results for the quarter ended June 30, 2023.
Highlights
- Net income of $34.9 million and earnings per share of $0.17 (basic) for the second quarter of 2023. This compares with a net loss of $8.8 million and loss per share of $0.04 (basic) for the first quarter of 2023.
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Adjusted EBITDA of $80.4 million for the second quarter of 2023, compared with $54.7 million for the first quarter of 2023.
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Reported TCE rates for Capesize and Panamax/Ultramax vessels of $19,083 per day and $15,617 per day, respectively, and $17,664 per day for the entire fleet in the second quarter of 2023.
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Completed the acquisition and took the delivery of six modern Newcastlemax vessels, with last one being delivered after quarter end.
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Taken delivery of four Kamsarmax newbuildings in the second quarter of 2023 and two Kamsarmax newbuildings after the end of the quarter.
- Entered into a $40.0 million facility agreement to partially finance two Kamsarmax newbuildings delivered during the third quarter of 2023, at highly attractive terms.
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Estimated TCE rates, inclusive of charter coverage calculated on a load-to-discharge basis, are approximately: * $18,300 per day for 79% of Capesize available days and $13,510 per day for 98% of Panamax available days for the third quarter of 2023.* $21,500 per day for 34% of Capesize days and $16,500 per day for 26% of Panamax days for the fourth quarter of 2023.
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