Category Archives: _Public
We are pleased to announce that Cleaves Securities AS has acquired Gersemi Research and appointed the founder and CEO of Gersemi Research, Joakim Hannisdahl, as Head of Research. Cleaves Securities AS is a specialized investment bank focused primarily on the … Continue reading
As Q2 came to an end, we analyse the actual data vs our forecast sector by sector, including latest developments going into Q3. We have also added updated peer tables for each sector. Key takes: Oil Tankers (BUY) and Dry … Continue reading
Okeanis Eco Tankers just concluded a $100m IPO in Oslo and is expected to start trading July 4. The timing is exquisite in our view, with 77% of the fleet to be delivered from now until YE’19, just as the … Continue reading
With an escalating trade war between the US and China seemingly gathering momentum, we estimate VLGCs to be one of the hardest hit shipping sectors (excl. containers). The US-Sino trade constitutes ~8% of the global VLGC demand, but we find … Continue reading
Genco Shipping raised new equity this week with concurrent vessel acquisitions, which were highly dilutive towards existing shareholders. We calculate a direct loss of $0.86/sh (-4.7%) for existing shareholders and reduce our target price to $24/sh (from $26) based on...
As we highlighted in our Get Ready for Launch update in March, the then expected Q2/Q3 New York listing was announced on Friday through an F-1. Assuming a 5% discount to our current NAV, we forecast 8m new shares to...
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Sign up today to take advantage of our limited time offer for a free membership and for unlimited access to all our content. We have extensive experience from equity research at Fearnley Securities and Nordea Markets Be the first to … Continue reading
Never before have we been so optimistic across all sub-segments of the shipping/oil service sectors simultaneously as we now are for 2018. All segments have either just entered the expansionary phase of the business cycle, or will experience the inflection...