The nearly pure VLCC player still performed well in the second … · Q1 2015 Q2 2015 Q3 2015 Q4...
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Everything comes down to the bottom line. But how do the shipping companies reach those numbers? Lloyd’s List Companies, our information tool, allows you to access 21 leading US-listed players’ news, analysis, and financial data based on public disclosures and our estimates. Our readers can easily benchmark operating performances in this one-stop shop. We have selected the star performers in the main sectors for the second quarter based on this tool –- hopefully this can showcase what Lloyd’s List Companies can do for you. Lloyd’s List Companies: reviewing US-listed players’ performances Containers: Costamare Costamare delivered solid if unspectacular results for April-June. Its Ebitda (earnings before interest, taxes, depreciation and amortisation) per ownership day increased to the highest in seven quarters, with operating expenses falling for the fourth quarter in a row. The company’s most important achievement was to stay clear of counterparty risk exposure to troubled South Korean carriers, unlike peers Seaspan and Danaos. Vessel Operating Costs Vessel Operating Costs per day 30,000 25,000 20,000 15,000 10,000 5,000 0 6,000 5,000 4,000 3,000 2,000 1,000 0 Vessel operating costs 2014 Q4 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 Vessel operating costs (in thousands of $) Vessel operating costs per day $ Crude & Product: DHT Holdings The nearly pure VLCC player still performed well in the second quarter. The company’s Ebitda per ownership day were lower on quarter but up 18.9% on year. But it was also increasing front cover by extending the time charter for one of its VLCCs by 16 months at $44,100 per day. Looking forward, its performance would be negatively affected by general softness of VLCC rates. Ebitda Ebitda per day DHT Holdings Frontline Euronav Gener8 Scorpio Tankers Nordic American 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 Earnings Compare: Time charter equivalent 2014 Q4 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 EBITDA (in thousands of $) 2014 Q4 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 Daily time charter equivalent ($) EBITDA per day $ 40,000 35,000 25,000 15,000 10,000 5,000 0 30,000 20,000 50,000 40,000 30,000 20,000 0 10,000 Dry Bulk: Safe Bulkers NYSE: SB Safe Bulkers still outperformed its peers during the second quarter, with its ability to keep down costs in weak spot markets. It has enjoyed positive Ebitda over the past few quarters — something that other US-listed bulker firms fail to achieve. its outlook also looks bright, with solid liquidity and strengthening spot markets. It looks set to retain its status as a top performer for some time. Diana Shipping Safe Bulkers Golden Ocean Scorpio Bulkers Star Bulk Compare: Vessel operating costs per day 2014 Q4 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 Vessel operating costs per day ($) 6,000 4,000 0 2,000 NYSE: CMRE NYSE: DHT Lloyd’s List companies Lloyd’s List Companies currently look at the five sectors of Container, Crude & Product, Dry Bulk, LNG & LPG, and MLP. lloydslist.com/companies
Transcript of The nearly pure VLCC player still performed well in the second … · Q1 2015 Q2 2015 Q3 2015 Q4...
Everything comes down to the bottom line. But how do the shipping companies reach those numbers? Lloyd’s List Companies, our information tool, allows you to access 21 leading US-listed players’ news, analysis, and financial data based on public disclosures and our estimates. Our readers can easily benchmark operating performances in this one-stop shop.We have selected the star performers in the main sectors for the second quarter based on this tool –- hopefully this can showcase what Lloyd’s List Companies can do for you.
Lloyd’s List Companies: reviewing US-listed players’ performances
Containers: CostamareCostamare delivered solid if unspectacular results for April-June. Its Ebitda (earnings before interest, taxes, depreciation and amortisation) per ownership day increased to the highest in seven quarters, with operating expenses falling for the fourth quarter in a row. The company’s most important achievement was to stay clear of counterparty risk exposure to troubled South Korean carriers, unlike peers Seaspan and Danaos.
Vessel Operating Costs
Vessel Operating Costs per day
30,000
25,000
20,000
15,000
10,000
5,000
0
6,000
5,000
4,000
3,000
2,000
1,000
0
Vessel operating costs
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
Vess
el o
pera
ting
cost
s (in
thou
sand
s of $
)
Vess
el o
pera
ting
cost
s per
day
$
Crude & Product: DHT HoldingsThe nearly pure VLCC player still performed well in the second quarter. The company’s Ebitda per ownership day were lower on quarter but up 18.9% on year. But it was also increasing front cover by extending the time charter for one of its VLCCs by 16 months at $44,100 per day. Looking forward, its performance would be negatively affected by general softness of VLCC rates.
Ebitda
Ebitda per day
DHT Holdings FrontlineEuronav
Gener8 Scorpio TankersNordic American
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Earnings Compare: Time charter equivalent
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
EBIT
DA (in
thou
sand
s of $
)
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
Daily
tim
e ch
arte
r equ
ivale
nt ($
)
EBIT
DA p
er d
ay $
40,000
35,000
25,000
15,000
10,000
5,0000
30,000
20,000
50,000
40,000
30,000
20,000
0
10,000
Dry Bulk: Safe Bulkers NYSE: SB
Safe Bulkers still outperformed its peers during the second quarter, with its ability to keep down costs in weak spot markets. It has enjoyed positive Ebitda over the past few quarters — something that other US-listed bulker firms fail to achieve. its outlook also looks bright, with solid liquidity and strengthening spot markets. It looks set to retain its status as a top performer for some time.
Diana Shipping Safe BulkersGolden Ocean Scorpio Bulkers Star Bulk
Compare: Vessel operating costs per day
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
Vess
el o
pera
ting
cost
s per
day
($)
6,000
4,000
0
2,000
NYSE: CMRE
NYSE: DHT
Lloyd’s List companies
Lloyd’s List Companies currently look at the five sectors of Container, Crude & Product, Dry Bulk, LNG & LPG, and MLP.
lloydslist.com/companies
