Movers and SHAKERS
Euroseas Ltd. (ESEA)
An Extraordinary Data Point Boosts EBITDA Estimates
Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers. As of March 31, 2017, it had a fleet of seven containerships; and six drybulk carriers, including three Panamax drybulk carriers, one Handymax drybulk carrier, one Kamsarmax drybulk carrier, and one Ultramax drybulk carrier. The company was founded in 2005 and is based in Maroussi, Greece.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Short charter on the Oakland intermediate secured at an extraordinary rate of at least $195k/day. Yesterday morning, news hit that the 2009-built Oakland intermediate secured a short charter of 60—85 days at a TCE rate of at least $195.0k/day. The charter, which should start by the end of October, could generate gross TCE revenue of at least $11.7 million.
Container market remains firm and upcoming fixtures should be favorable. Charters on the Oakland, Jonathan P and Diamantis P are good examples of a strong container market. Four feeders (Corfu/Evridiki G/Astoria/Aegean Express) and one intermediate (Oakland) are available for charter over the next six months ...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.