DBS Vickers Securities in a Jan 20 research report says: “Revenue and operating profit in 4Q10 came in 2% q-o-q and 8% y-o-y lower, owing to more off-hire days arising from repairs to the 2 time-chartered vessels.
Posts Tagged ‘shipping’
Pacific Shipping Trust declares DPU of 0.809 US cents for 4Q
January 19th, 2011 |
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Pacific Shipping Trust (PST), Singapore’s first publicly-listed business trust, says it achieved a DPU of 0.809 US cents (1.037 cents) for the fourth quarter ended December 31, 2010 (4QFY2010).
Together with distributions totalling 2.418 US cents in the first three quarters, the aggregate distribution for the FY2010 will be 3.227 US cents, representing an annual yield of 8.7%. But DPU for FY2010 is lower than FY2009 due to higher income retention since 3QFY2009.
Credit Suisse rates Asia container shipping sector Overweight; Likes NOL
January 4th, 2011 |
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Credit Suisse keeps the Asia container shipping sector at Overweight, noting China outbound freight rate and utilisation on major trades rebounded last week after weeks of decline, with cargo volumes starting to recover ahead of the Lunar New Year holiday.
The house also notes leading indicators such as the US ISM and China PMI new export orders for December continued to expand on-month and it views as suggesting decent Asian exports in the next few months, while the latest US and European consumer sentiment and retail data also point toward an improving demand outlook.
Pacific Shipping Trust rated ‘invest’ by SIAS Research
December 2nd, 2010 |
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SIAS Research in a Nov 30 research report says: “PST announced the acquisition and chartering of five 57,000 DWT Supramax bulk carriers. These five vessels will be built by Tianjin Xingang Shipbuilding Industry Co Ltd for a contracted price of UD$30 million per vessel and are expected to be delivered between October 2012 and April 2013.
Nov 26: Sabana REIT, China Fishery, Pacific Shipping Trust, Keppel Corp, SIA, STX OSV
November 26th, 2010 |
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Singapore shares may open a tad higher on Friday as global markets edged up, but trading is likely to be quiet as US markets were closed overnight for the Thanksgiving holiday. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.71% on Thursday to 3,159.23 points.
Here are some stocks and factors to watch, say Bloomberg and Thomson Reuters:
Shares of Sabana REIT (SABA.SI), which owns industrial properties, makes its Singapore market debut after raising about $491 million in an initial public offering that was 2.5 times subscribed.
Long on shipbuilders but short on shipping: Deutsche Bank
November 8th, 2010 |
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Deutsche Bank prefers regional shipbuilders vs shippers; says newsflow on shipbuilders likely to be more positive over next six months as dry bulk shippers continue to order, container shippers turned to profit after not ordering in past two years, says Dow Jones.
Also Deutsche Bank expects LNG/offshore orders to pick up, says between Chinese, Korean shipbuilders, “Better outperformance lies with the Chinese because of the various Chinese government support measures.”
Top buy picks are Yangzijiang (BS6.SG), Cosco Corp (F83.SG). Reckons shipping stocks likely to struggle next six months; tips dry bulk shipping sector “to continue suffering from an oversupply situation in 2011. Hence we expect dry bulk shipping rates to correct downwards after (seasonal) run-up in 4Q.”
Adds, container shipping rates started to turn down, will continue trending down in seasonally weak 4Q. Tips long shipbuilders/short shipping pair trade, specifically long Cosco/short NOL (N03.SG).
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Samudera Shipping Line turns around with 3Q net profit of $6.3m
October 22nd, 2010 |
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Samudera Shipping Line, the regional container shipping line, has reported a turnaround in net profit of US$6.3 million ($8.2 million) or 1.16 US cents per share for the three months ended 30 September 2010 (3Q10), compared to a net loss of US$4.0 million or loss of 0.74 US cents per share in 2009 (3Q09).
The group’s revenue for 3Q10 rose 14.2% to US$97.2 million from US$85.1 million a year ago.
HTC Windows Phone 7 Smartphones Shipping on Time, Despite Rumors
October 20th, 2010 |
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HTC phones running Windows Phone 7 are reportedly on schedule, despite rumors to the contrary. Theyre set to go on sale in Europe Oct. 21 and in the United States Nov. 8. – Following a Taiwanese news report that HTC was experiencing quot;glitches quot; with its newly introduced Windows Phone 7 devices, officials with the smartphone maker said that all is well and that devices will ship on time.
“We are shipping our (WP7) phones this week, as planned,” an HTC spokesp…
Pacific Shipping Trust announces 3Q DPU of 0.832 US cents
October 20th, 2010 |
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Pacific Shipping Trust has announced a DPU of 0.832 US cents (1.088 Singapore cents) for the third quarter ended September 30, 2010 (3QFY2010). This represents a tax-free annualised yield of 10.1%. The Q3 FY2010 DPU is 1.7% higher than the distribution of 0.818 US cents per unit in 3QFY2009.
Gross revenue in Q3 FY2010 from PST’s existing 12 vessels chartered on a long-term basis remained stable at US$15.6 million, delivering a profit after tax of US$7.2 million. This was consistent when compared to the corresponding period last year and in 2QFY2010.
Pacific Shipping Trust rated ‘invest’ by SIAS Research
October 13th, 2010 |
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SIAS Research in an Oct 13 research report says: “On Oct 11, 2010, Pacific Shipping Trust (PST) announced that it has awarded the construction of two 24,000 DWT multi-purpose vessels to Dalian Shipbuilding Industry Co Ltd.
Nokia C7 with Symbian 3 Now Shipping
October 11th, 2010 |
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The Nokia C7 is now shipping worldwide. The second smartphone to run Symbian 3, Nokia introduced it in September, as part of a campaign to regain market share. – The Nokia C7 smartphone is now shipping to customers around the world, Nokia
announced Oct. 11 the same day Microsoft
launched its Windows Phone 7 on five new handsets. Following the Nokia N8,
the C7 is the second smartphone to run the Symbian 3 operating system and is
one of four new phones wit…
Nokia N8 Smartphone, with Symbian 3 OS, Now Shipping
September 30th, 2010 |
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Nokia N8 smartphones, the first to run the Symbian 3 operating system, have left factories in Finland and China and should reach the first lucky customers by the weekend, Nokia reported. – Nokias newest flagship smartphone, the N8, has begun shipping around the world from its factories in Finland and China, Nokia announced Sept. 30 on its Conversations blog. Stressing the enormity of this big push from its factories, the phone maker worked to build excitement while calling for a last …
Grace Ocean borrows US$250m from Mitsui in shipping loan
September 22nd, 2010 |
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Grace Ocean, a Singapore-based shipping company, borrowed US$250 million ($332 million) in a term facility due 2023, according to data compiled by Bloomberg.
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VMware Starts Shipping Online-or-Offline Virtual Desktops
September 13th, 2010 |
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View 4.5 is the company’s first desktop virtualization package to bring virtual desktop functionality to users whether they are online or offline. – As it promised two weeks ago at VMworld 2010,
VMware on Sept. 13 starting shipping VMware View 4.5, the company’s
first enterprise-class desktop virtualization package to bring virtual
desktop functionality to users who are either online or offline.
In previous versions, VMware View was VDI…
UOB KayHian keeps Market Weight on regional dry bulk shipping
September 8th, 2010 |
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UOB KayHian is keeping its Market Weight call on regional dry bulk shipping sector, according to Dow Jones.
UOB KayHian says though it expects near-term catalyst from solid BDI performance in 4Q10 likely on seasonal coal demand and Chinese steel mills’ increased iron ore purchases, it believes BDI’s upside capped by massive delivery of vessels.
Broker adds top sector pick remains China Shipping Development (1138.HK); company isolated from BDI’s volatility, but earnings growth remains highly visible driven by aggressive fleet expansion.
Notes current valuation of 1.3x, 10.1x FY11 P/B, P/E, respectively, “looks attractive.” Stock last down 2.2% at HK$10.78.
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Apple iPad Shipping in 24 Hours, Suggesting Increased Capacity
August 31st, 2010 |
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Apple’s iPad will soon face competition from other manufacturers, but it now ships in 24 hours, suggesting production bottlenecks might have eased. – Apple’s iPad now ships within 24 hours from the company’s online store,
suggesting that the company’s production capacity has caught up with consumer
demand for the bestselling device.
That narrowed ship-time extends to both the WiFi-only and 3G-enabled
versions of the tablet, which presents a …
Singapore Shipping Corp – Corporate moves
August 18th, 2010 |
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Ow Yew Heng has been appointed ED wef Aug 10
Work experience: Assist to COO, Singapore Shipping Corp Ltd, Stamford Land Corp Ltd; non-ED, Cougar Logistics Corp Ltd
Pacific Shipping Trust – Corporate moves
August 12th, 2010 |
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Lim Ah Doo has been appointed independent director/audit committee member wef Aug 1
Work experience: Non-executive deputy chairman, AAA Oils & Fats Pte Ltd; non-executive vice chairman, RGM Int’l Pte Ltd
Singapore Shipping Corp – Corporate moves
August 2nd, 2010 |
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Lt-Gen(Retd) Ng Jui Ping has been appointed independent director/audit committee member wef July 29
Work experience: Chairman, August Asia Consulting Pte Ltd; chairman/group CEO, Horizon Education and Technologies Ltd
Weekend Comment Nov 12: STX OSV rides shipping cycle
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