Movers and SHAKERS
Eagle Bulk Shipping (EGLE)
Year Off to Good Start - Flat Water and Blue Sky?
Eagle Bulk Shipping Inc. is a US-based drybulk owner-operator focused on the Supramax/Ultramax mid-size asset class, which ranges from 50,000 and 65,000 deadweight tons in size; these vessels are equipped with onboard cranes allowing for the self-loading and unloading of cargoes, a feature which distinguishes them from the larger classes of drybulk vessels and provides for greatly enhanced flexibility and versatility- both with respect to cargo diversity and port accessibility. The Company transports a broad range of major and minor bulk cargoes around the world, including coal, grain, ore, pet coke, cement, and fertilizer. Eagle operates out of three offices, Stamford (headquarters), Singapore, and Hamburg, and performs all aspects of vessel management in-house including: commercial, operational, technical, and strategic.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
NobleCon17 Presentations Highlight Optimism. CEO Gary Vogel and CFO Frank DeConstanzo made a solid case for EGLE in a presentation last week, and Gary highlighted the positive trends in the dry bulk market on the industry panel. Go to Channelchek: https://www.channelchek.com/news-channel/NobleCon17_Rebroadcast for replay info.
Thesis intact. While the past two years were negatively impacted by extreme factors, the supply/demand fundamentals appear favorable and the year has started on a better than expected note. The order book and supply growth remain historically low due to rate volatility, regulatory uncertainty and declining capital availability, while demand should rebound on the back of global stimulus packages and ...
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.