Latest news with #Capesize
Yahoo
28-05-2025
- Business
- Yahoo
Jinhui Shipping and Transportation Ltd (LTS:0JOD) Q1 2025 Earnings Call Highlights: Strong ...
Release Date: May 26, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Jinhui Shipping and Transportation Ltd (LTS:0JOD) reported a significant revenue increase of 41% compared to the previous quarter. Net profit for Q1 2025 increased sixfold, showcasing strong financial performance. The company successfully concluded a long-standing legal proceeding, resulting in a settlement income of $20.2 million. The fleet expanded to 26 vessels, enhancing the company's operational capacity. The balance sheet remains healthy with a low gearing ratio of 16%, indicating strong financial stability. Shipping-related expenses increased to $21.6 million, primarily due to higher payments for chartered vessels. The daily running cost of owned vessels rose from $4,830 to $5,375, attributed to fleet expansion and initial costs. Time charter equivalent rates for Capesize, Panamax, and Ultramax fleets showed a slight decrease compared to previous periods. The market environment in 2025 is filled with uncertainty, including geopolitical tensions and potential US tariffs affecting operations. No new long-term contracts were locked in during the quarter due to market volatility, impacting future revenue visibility. Warning! GuruFocus has detected 5 Warning Signs with LTS:0JOD. Q: Can you provide more details on the $20 million settlement income received from the legal proceedings with Parco Shipping PTE Limited? A: The settlement income of $20.2 million was received as a result of legal proceedings related to the non-performance of a charter party with Parco Shipping PTE Limited. This matter has been ongoing for years, and we are pleased to announce that it has reached a final conclusion. We plan to set aside this amount for potential opportunities to renew our vessels, focusing on the Ultramax segment, which remains our core strength. (Unidentified_1) Q: How does the company plan to handle the current volatile market conditions and geopolitical uncertainties? A: The geopolitical situation remains fluid, with uncertainties such as US tariffs and potential penalties on Chinese-built vessels. We aim to manage our balance sheet prudently and maintain a young fleet. We will continue to seek opportunities to maximize revenue and lock in earnings visibility through longer-term charters. However, given the current volatility, it is challenging to provide specific future plans. (Unidentified_1) Q: What is the company's outlook on the shipping rates for the Ultramax, Panamax, and Supermax sectors? A: Our focus remains on the Ultramax sector, which we believe is the most defensive. While we hope for stability in Supermax rates around $12,000 per day, shipping is inherently volatile, and we cannot predict future rates with certainty. We will continue to react to market conditions and make decisions based on opportunities that arise. (Unidentified_1) Q: Are there any plans for new long-term contracts or fleet acquisitions in the near future? A: Currently, we have no new long-term contracts locked in this quarter due to market volatility. Approximately 50% of our vessels are under long-term contracts ranging from 1 to 5 years. We will update the market if any new contracts are secured. As for fleet acquisitions, we have no commitments at this time and will make decisions based on market conditions and pricing. (Unidentified_1) Q: How does the company view the quality of Chinese-built ships compared to Japanese-built ships? A: Historically, Japanese yards have been favored by many charters. However, many first-class Chinese yards now produce high-quality ships comparable to Japanese-built ones. We evaluate ships based on quality, customer needs, and price, and we will continue to make decisions that align with our strategic goals. (Unidentified_1) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Star Bulk Announces Results of Its 2025 Annual Meeting of Shareholders
ATHENS, Greece, May 14, 2025 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK), today announced that the Company's Annual Meeting of Shareholders was duly held today in Cyprus pursuant to a Notice of Annual Meeting of Shareholders dated March 25, 2025 ('Notice'). At the meeting, each of the following proposals, which are set forth in more detail in the Notice and the Company's Proxy Statement were approved and adopted:1. The re-election of Messrs. Petros Pappas, Arne Blystad and Raffaele Zagari to serve as Class C Directors on the Company's Board of Directors.2. The appointment of DELOITTE CERTIFIED PUBLIC ACCOUNTANTS S.A. as the Company's independent auditors for the fiscal year ending December 31, 2025. About Star BulkStar Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, New York, Stamford and Singapore. Its common stock trades on the Nasdaq Global Select Market under the symbol 'SBLK'. As of the date of this release on a fully delivered basis and as adjusted for the delivery of a) the vessels agreed to be sold as discussed above and b) the five firm Kamsarmax vessels currently under construction, we own a fleet of 150 vessels, with an aggregate capacity of 14.7 million dwt consisting of 17 Newcastlemax, 15 Capesize, 1 Mini Capesize, 7 Post Panamax, 44 Kamsarmax, 1 Panamax, 48 Ultramax and 17 Supramax vessels with carrying capacities between 55,569 dwt and 209,537 dwt. Contacts Company:Simos Spyrou, Christos BeglerisCo ‐ Chief Financial Officers Star Bulk Carriers Corp.c/o Star Bulk Management Inc.40 Ag. Konstantinou 15124Athens, GreeceEmail: info@ Investor Relations / Financial Media:Nicolas BornozisPresidentCapital Link, Inc.230 Park Avenue, Suite 1540New York, NY 10169Tel. (212) 661‐7566E‐mail: starbulk@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-04-2025
- Business
- Yahoo
Golden Ocean, CMB.TECH announce merger plan
Golden Ocean Group and have signed a term sheet regarding a proposed stock-for-stock merger, with designated the surviving entity. The terms have been unanimously endorsed by the board of directors of Golden Ocean, including its special transaction committee, as well as by the supervisory board of This does not mean the merger itself is yet agreed. "The merger remains subject to customary conditions, including confirmatory due diligence, negotiation and execution of definitive transaction agreements, applicable board approvals, regulatory approvals, third-party consents, Golden Ocean shareholder approval, and effectiveness of a registration statement on Form F-4 to be filed by with the U.S. Securities and Exchange Commission ('SEC')," according to Golden Ocean's statement. must file a registration statement on Form F-4 with the US Securities and Exchange Commission. The merger is anticipated to form one of the largest diversified maritime groups with a market capitalisation of $3.2bn and a combined fleet exceeding 250 vessels. The term sheet stipulates an exchange ratio of 0.95 shares of for each share of Golden Ocean, subject to standard adjustments. The merger would see Golden Ocean integrated into Bermuda, a wholly-owned subsidiary of CEO Alexander Saverys said: 'By merging and Golden Ocean, we would take another great step forward in building our leading diversified maritime group. Our fleet would grow to more than 250 modern vessels spread over five shipping divisions.' Post-merger, approximately 95.9 million new shares of are expected to be issued, resulting in shareholders owning about 70% of the merged entity, while Golden Ocean shareholders will retain approximately 30%, assuming no changes to the exchange ratio. Upon completion of the merger, Golden Ocean would be removed from NASDAQ and Euronext Oslo Bors, while will maintain its listings on the New York Stock Exchange and Euronext Brussels, with intentions for a secondary listing on Euronext Oslo Børs following the merger. The parties aim to conclude definitive transaction agreements in the second quarter of 2025, with the merger expected to be finalised in the third quarter of 2025. Golden Ocean CEO Peder Simonsen said: 'The proposed merger with gives Golden Ocean a great opportunity to be part of a large diversified maritime group. 'Our fleet and dry bulk vessels are very complementary and would create one of the largest and most modern dry bulk fleets in the world, including 87 modern Capesize and Newcastlemax vessels, with a favourable long-term outlook.' Last month, and Mitsui O.S.K. Lines (MOL) agreed to jointly own and charter nine ammonia-powered vessels from 2026 to 2029, including three dual-fuel Newcastlemax bulk carriers and six chemical tankers. "Golden Ocean, announce merger plan" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-04-2025
- Business
- Yahoo
Golden Ocean, CMB.TECH announce merger plan
Golden Ocean Group and have signed a term sheet regarding a proposed stock-for-stock merger, with designated the surviving entity. The terms have been unanimously endorsed by the board of directors of Golden Ocean, including its special transaction committee, as well as by the supervisory board of This does not mean the merger itself is yet agreed. "The merger remains subject to customary conditions, including confirmatory due diligence, negotiation and execution of definitive transaction agreements, applicable board approvals, regulatory approvals, third-party consents, Golden Ocean shareholder approval, and effectiveness of a registration statement on Form F-4 to be filed by with the U.S. Securities and Exchange Commission ('SEC')," according to Golden Ocean's statement. must file a registration statement on Form F-4 with the US Securities and Exchange Commission. The merger is anticipated to form one of the largest diversified maritime groups with a market capitalisation of $3.2bn and a combined fleet exceeding 250 vessels. The term sheet stipulates an exchange ratio of 0.95 shares of for each share of Golden Ocean, subject to standard adjustments. The merger would see Golden Ocean integrated into Bermuda, a wholly-owned subsidiary of CEO Alexander Saverys said: 'By merging and Golden Ocean, we would take another great step forward in building our leading diversified maritime group. Our fleet would grow to more than 250 modern vessels spread over five shipping divisions.' Post-merger, approximately 95.9 million new shares of are expected to be issued, resulting in shareholders owning about 70% of the merged entity, while Golden Ocean shareholders will retain approximately 30%, assuming no changes to the exchange ratio. Upon completion of the merger, Golden Ocean would be removed from NASDAQ and Euronext Oslo Bors, while will maintain its listings on the New York Stock Exchange and Euronext Brussels, with intentions for a secondary listing on Euronext Oslo Børs following the merger. The parties aim to conclude definitive transaction agreements in the second quarter of 2025, with the merger expected to be finalised in the third quarter of 2025. Golden Ocean CEO Peder Simonsen said: 'The proposed merger with gives Golden Ocean a great opportunity to be part of a large diversified maritime group. 'Our fleet and dry bulk vessels are very complementary and would create one of the largest and most modern dry bulk fleets in the world, including 87 modern Capesize and Newcastlemax vessels, with a favourable long-term outlook.' Last month, and Mitsui O.S.K. Lines (MOL) agreed to jointly own and charter nine ammonia-powered vessels from 2026 to 2029, including three dual-fuel Newcastlemax bulk carriers and six chemical tankers. "Golden Ocean, announce merger plan" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
27-03-2025
- Business
- Yahoo
Seanergy Maritime Announces Fixed Income Investor Meetings
GLYFADA, Greece, March 27, 2025 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (the 'Company' or 'Seanergy') (NASDAQ: SHIP), through Norwegian investment banks, will arrange a series of fixed income investor meetings in the Nordic bond market, commencing March 28, 2025. A four-year USD denominated senior unsecured bond issue may follow, subject to inter alia market conditions. The net proceeds from the contemplated bond issue are intended to be used for general corporate purposes, which may include debt refinancing or acquisitions of vessels. The senior unsecured bonds, if issued, will be sold in the United States only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the 'U.S. Securities Act') and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The bonds, if issued, will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful, and is being issued in the United States pursuant to and in accordance with Rule 135c under the Securities Act. About Seanergy Maritime Holdings Corp. Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company's operating fleet consists of 21 vessels (2 Newcastlemax and 19 Capesize) with an average age of approximately 13.8 years and an aggregate cargo carrying capacity of approximately 3,803,918 dwt. The Company is incorporated in the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital market under the symbol 'SHIP'. Please visit the Company's website at: Information on the Company's website does not constitute a part of this press release. Forward-Looking Statements This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to any bond offering. Words such as 'may', 'should', 'expects', 'intends', 'plans', 'believes', 'anticipates', 'hopes', 'estimates' and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company's operating or financial results; the Company's liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between Israel and Hamas or Iran and between Russia and Ukraine; risks associated with the length and severity of pandemics (including COVID-19), including their effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company's filings with the SEC, including its most recent annual report on Form 20-F. The Company's filings can be obtained free of charge on the SEC's website at Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For further information please contact: Seanergy Investor RelationsTel: +30 213 0181 522E-mail: ir@ Capital Link, Lampoutis230 Park Avenue Suite 1540New York, NY 10169Tel: (212) 661-7566E-mail: seanergy@
