NEW YORK, March 13, 2017 /PRNewswire/ --
Operators in the global Shipping industry transport cargo through designated sea routes, and can be broadly classified into wet bulk, dry bulk, and liners. The global shipping industry is regulated by the International Maritime Organization. Ahead of today's trading session, Stock-Callers.com shifts focus on these four stocks: Top Ships Inc. (NASDAQ: TOPS), Tsakos Energy Navigation Ltd (NYSE: TNP), Star Bulk Carriers Corp. (NASDAQ: SBLK), and Teekay LNG Partners L.P. (NYSE: TGP). Learn more about these stocks by downloading their comprehensive and free reports at:
Maroussi, Greece-based Top Ships Inc.'s shares finished Friday's session 4.90% lower at $1.36. A total volume of 1.01 million shares was traded, above their three months average volume of 581,840 shares. The stock is trading 39.31% below its 50-day moving average. Moreover, shares of Top Ships, which provides seaborne transportation services worldwide, have an RSI of 31.22. TOPS complete research report is just a click away and free at:
Tsakos Energy Navigation
Shares in Athens, Greece-based Tsakos Energy Navigation Ltd ended the day 1.59% higher at $4.46 with a total trading volume of 190,024 shares. The stock is trading below its 50-day moving average by 6.75%. Shares of the Company, which provides international seaborne crude oil and petroleum product transportation services worldwide, have a Relative Strength Index (RSI) of 35.94.
On March 09th, 2017, Tsakos Energy Navigation, a leading diversified crude, product, and LNG tanker operator, announced an up to 18 months time charter with minimum and profit sharing provision for the newly delivered VLCC Hercules I to a major US oil Company. The complimentary report on TNP can be downloaded at:
Star Bulk Carriers
Athens, Greece-based Star Bulk Carriers Corp.'s stock surged 9.00%, closing the session at $9.81. A total volume of 591,232 shares was traded, which was above their three months average volume of 537,830 shares. The Company's shares have gained 14.60% in the last one month, 80.66% in the previous three months, and 91.98% on an YTD basis. The stock is trading 19.39% above its 50-day moving average and 83.79% above its 200-day moving average. Additionally, shares of Star Bulk Carriers, which provides seaborne transportation solutions in the dry bulk sector worldwide, have an RSI of 57.98.
On February 21st, 2017, research firm Deutsche Bank upgraded the Company's stock rating from 'Hold' to 'Buy' while revising its previous target price from $3.50 a share to $12 a share.
On March 08th, 2017, Star Bulk announced that it has entered into definitive agreements to acquire two modern Kamsarmax drybulk carriers (the "Vessels") from an unaffiliated third party for an aggregate total consideration of approximately US$30.3 million. Each of the Vessels has a carrying capacity of 81,713 deadweight tons and was built with high specifications at Jiangsu New Yangzijiang in 2013. The Vessels are expected to be delivered to Star Bulk between March and May 2017. The Company is currently in advanced discussions with a financial institution to secure financing for up to 50% of the acquisition costs of the Vessels. Sign up for your complimentary research report on SBLK at:
Teekay LNG Partners
On Friday, shares in Hamilton, Bermuda-based Teekay LNG Partners L.P. finished the session 1.15% lower at $17.15 with a total trading volume of 225,395 shares. The stock is up 9.39% over the previous three months and 19.61% on a YTD basis. The Company's shares are trading above their 200-day moving average by 20.22%. Furthermore, shares of Teekay LNG Partners, which provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas, and crude oil worldwide, have an RSI of 39.80.
On February 23rd, 2017, Teekay LNG reported GAAP net income attributable to the partners and preferred unit-holders of $84.4 million and adjusted net income attributable to the partners and preferred unit-holders of $29.0 million in Q4 2016. The Company generated GAAP income from vessel operations of $38.0 million and $153.2 million, respectively, and total cash flow from vessel operations of $114.5 million and $480.1 million, respectively, in Q4 2016 and FY16. Teekay LNG generated distributable cash flow of $50.2 million, or $0.63 per common unit, in Q4 2016. The Company completed approximately $1.0 billion of new long-term financings for the Partnership's growth projects to fund four MEGI LNG carrier newbuildings, the Bahrain regasification terminal, and two LPG carrier newbuildings in the Exmar LPG joint venture. Get free access to your research report on TGP at:
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