Shipping — Maj 2024
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BWLPG: KEPLER CHEUVREUX OPPJUSTERER KURSMÅL TIL 217 (210), GJENTAR KJØP
i dag kl. 09:16 ∙ TDN FinansOslo (Infront TDN Direkt): Kepler Cheuvreux oppjusterer sitt kursmål på BW LPG til 217 kroner fra 210 kroner pr aksje, og gjentar kjøpsanbefaling.
Det fremgår av en oppdatering tirsdag.
"Vi senker våre estimater for 2024 på grunn av etterslepende effekter på fraktratene, men hever vårt kursmål til 217 kroner fra 210 kroner på grunn av sterkere eiendelspriser", skriver meglerhuset.
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Slutkurser US tirsdag d. 27. maj:
BW LPG 189,65 kr. (189,2)
Frontline 307,25 kr. (304,3)
Hafnia kr. 90,36 (89)
Okeanis 382,29 NOK (375) -
Mærsks japanske konkurrenter har mest modvind onsdag https://proinvestor.com/investornyt/1165653/maersks-japanske-konkurrenter-har-mest-modvind-onsdag
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MPC CONTAINER: Fearnley øker kursmålet til NOK 21 (16), gjentar hold. DNB øker til NOK 16,3 (15,7), gjentar selg. Pareto øker solid til NOK 21 (14), gjentar hold.
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LPG: Poten $ 63 526
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Slutkurser US: BW LPG 193,43 NOK (189,7)
Frontline 304,24 kr. (305,9)
Hafnia 91,31 kr. (89,55)
Okeanis 378,76 NOK (375) -
Mærsks asiatiske konkurrenter sendes i rødt af amerikansk rentefrygt https://proinvestor.com/investornyt/1166280/maersks-asiatiske-konkurrenter-sendes-i-rodt-af-amerikansk-rentefrygt
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Knalltall fra BW LPG
BW LPG satt igjen med et overskudd på skyhøye 149,8 millioner dollar på bunnlinjen i første kvartal i et fortsatt hett LPG-marked. https://www.finansavisen.no/shipping/2024/05/30/8134896/knalltall-fra-bw-lpg -
BW LPG Limited - Financial Results for Q1 2024
i dag kl. 07:11 ∙ Oslo Børs(Singapore, 30 May 2024)
Highlights and Subsequent Events
- Strong quarterly performance with daily TCE of USD 61,500 per available day
and USD 59,400 per calendar day. - Generated NPAT of USD 150 million or earnings per share of USD 1.07. Declared
a Q1 cash dividend of USD 1.00 per share which represents 106% of earnings from
the shipping activity and 93% of total earnings in the quarter
- Strong quarterly performance with daily TCE of USD 61,500 per available day
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- For the second quarter of 2024, we have fixed 84% at an average rate of ~USD
49,000 per available day - BW Product Services generated a net accounting profit of USD 21 million in Q1
after adjusting for G&A and tax provisions. - BW Product Services is pleased to announce a multi-year cargo contract with
Enterprise Product Partners, with optionality to double the current cargo volume
in the US Gulf. This will significantly improve the combined shipping and cargo
trading flexibility.
- For the second quarter of 2024, we have fixed 84% at an average rate of ~USD
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Delivered one VLGC to new owners for further trading in February 2024,
generating USD 65 million in proceeds.- BW LPG successfully listed on the New York Stock Exchange (NYSE) on 29 April
Financial Performance
BW LPG Limited ("BW LPG", the "Company", NYSE ticker code: "BWLP", OSE ticker
code: "BWLPG.OL") reported a Q1 2024 Net Profit After Tax (NPAT) of USD 150
million, yielding an annualised return on equity of 37% with USD 468.5 million
free cash flow generated. -
The Q1 operating profit was USD 157.8 million, and
earnings per share was USD 1.07. -
The net leverage ratio was at an all-time low at 7% in Q1 with available
liquidity at USD 661 million at the end of the quarter. On the back of another
strong quarter, the Board has declared a cash dividend of USD 1.00 per share, or
a total dividend of USD 132 million. This represents a 93% earnings payout ratio
and an annualised dividend yield of 22%. -
Commercial Performance
Shipping - Q1 VLGC freight rates averaged USD 61,500 per available day or USD
59,400 per calendar day, with 95% fleet utilisation. Time Charter Equivalent
(TCE) income was USD 186.5 million for the quarter, and our India subsidiary
contributed a stable TCE income of USD 10 million for Q1. -
BW LPG delivered BW Princess (2008-built, Hyundai Heavy Industries, Korea) in
February 2024 to new owners for further trading. Her sale generated USD 65
million in proceeds and a net book gain of USD 20 million.Product Services - Product Services reported a USD 33 million gross profit for
Q1. After considering other expenses, comprising mainly of G&A and income tax
expenses, Product Services reported a net profit after tax of USD 21 million for
the quarter. -
Fantastiske tal fra BW-LPG. Pengemaskinen sejler videre med fuld fart i 2024.
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Mærsk får købsanbefaling hos Nordea https://proinvestor.com/investornyt/1166290/maersk-far-kobsanbefaling-hos-nordea
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BWLPG ligger med hele 49k, det er meget for næste kvartal når de før i tiden lå på ca. 33k og det er højere end Agas der plejer at være pænt gearet og med næsten 4 gange flere skibe. Efterspørgslen begynder at slå igennem i Indien, Indonesien og andre asiatiske lande som har meget brug for lpg i mange år frem. Deres sats på havnedrift i Indien vil nok også kaste guldstøv af sig ikke at forglemme deres produktservice som ligner en guldkalv.
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