Movers and SHAKERS
Euroseas Ltd. (ESEA)
NobleCon 17 Presentation Highlights Strong Container Market
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.
NobleCon17 presentations highlight firmer container market and high operating leverage. CFO Dr. Tasos Aslidis offered a solid case for ESEA in a presentation last week, and he highlighted the positive trends in the container market on the industry panel. Go to Channelchek: https://www.channelchek.com/news-channel/NobleCon17_Rebroadcast for replay info.
Positive thesis intact. While the past two years were negatively impacted by extreme factors, the container supply/demand fundamentals appear favorable, more charters with longer terms have been signed at higher TCE rates and the year has started on a better-than-expected note. The order book and supply growth remain historically low due to shipyard restrictions, regulatory uncertainty 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.