Braemar Shipping Services Share Discussion Threads

[tomfoolishly2] 01/4/2020 08:36

With the OP so low, and tanker rates climbing steeply as traders rush to buy oil cheap today in order to store and sell later, is it about to get real busy for a tanker brokerage? That's what BMS do right?

[grahamburn] 03/3/2020 12:12

Depends what plans they have for the dividend - hold or cut?

[pugugly] 03/3/2020 09:50

Just checked datbase 1st looked at 28/10/15. Price 432.25p Market cap £130 M share price now 132/140 - Looks like a disaster zone - OK previous management decimated but cannot see any reason to buy - or do any regular followers suggest otherwise?

[tole] 03/3/2020 09:49

Closed it off in 160's. Only a small forward bet. Was looking for a short term bounce from that level. But that was before the markets properly melted down last week. Although was tempted to buy a few this morning.. but resisted. Price recovering somewhat so far anyway.

[mount teide] 03/3/2020 08:07

Hope it was small Tole!

[tole] 24/2/2020 14:23

Taken quite a hit recently.. I've opened a small position here.

[this_is_me] 14/2/2020 15:06

It looks like the fear of the effect of THE virus on shipping demand is affecting the share price.

[r9505571] 09/12/2019 16:13

Looks like it should pay a tasty dividend. And it's making up some ground!

[grahamburn] 09/12/2019 16:00

Though he was somewhat negative, save for its yield, complaining about the share price not behaving correctly in terms of the industry cycle.

[cwa1] 09/12/2019 15:56

Yes, Ian Cowie covered it in The ST

[r9505571] 09/12/2019 15:46

Why the massive lift in this today? Coverage in The Sunday Times?

[linton5] 28/11/2019 12:15

Very peaceful share this very quiet

[mount teide] 08/11/2019 14:27

Euroclear's latest Stock on Loan(short) Report published yesterday shows BMS with just 0.1% out on loan.

[shalder] 24/10/2019 09:43

Are we trailing a change in dividend? New chairman, new FD, a comment that BMS will now focus on growth and the board will continue to review dividend policy. Sounds like room for maneuver to me.

[onthemarblecliffs] 24/10/2019 09:42

I would agree with you. Business continues to lag peers in margins and its unallocated costs remain far too high. Cash flow was weak in H1. I had hoped they would cut the dividend but suspect the broking profits in H2 are looking good enough to cover it. BMS needs to appoint a new CEO with industry experience and announce what its strategy is going forwards. A lot of potential here though.

[spooky] 24/10/2019 09:39

Numbers and outlook fine but a pretty sharp deterioration in the balance sheet.

[mount teide] 24/10/2019 09:21

Very modest results - however, 2019 was always likely to be a year of two halves with shipbroking performing materially better in H2 and H1/2020, as a result of a once in fifty year impact on the industry generated by the preparation for and implementation of the IMO 2020 Low Sulphur Fuel Regs.

[stopps] 18/10/2019 14:04

Good buying continuing!

[stopps] 18/10/2019 09:16

£2.21 printed.Appears short of stock!

[edmundshaw] 17/10/2019 13:23

Thanks MT - crossed posts...

[edmundshaw] 17/10/2019 13:21

From Clarksons website: Last week our cross-sector earnings index, the ClarkSea, recorded its biggest ever weekly percentage move (23% to $20,096/day), and this week we have another record, including the biggest absolute increase (55% to $31,207/day). The current spike is very much tanker driven (VLCCs: $307,888/day!) For the rest of the text you need to log in to their site...

[mount teide] 17/10/2019 13:19

Edmund - heavily overweight the tanker sector, the recent development detailed below will have been a huge boost to BMS, as will the preparations for the implementation of the new low sulphur IMO 2020 Fuel Regulations in Jan 2020: The US blacklisting of Chinese ships has seen oil buyers scrambling for capacity, pushing shipping rates to a more than decade high. Average spot market rates for a VLCC(Very large Crude Carrier) have rocketed 522% in two weeks from 18,000 USD per day on 25th Sept to 94,000 USD per day by 9th October! Clarkson CKN share price has surged 11.1% to an 18 month high. 'Oil Shipping Costs Soar to Highest Levels in 11 Years - Wall Street Journal The cost of moving oil around the world has hit an 11-year high as producers scramble to find new supertankers following a U.S. blacklisting of a major Chinese operator that has sidelined dozens of ships. “The market has gone bonkers by shock events like the Cosco tankers being blacklisted,” said George Lazaridis, head of research and valuations at Athens, Greece-based Allied Shipbroking. “It’s a bubble that could get bigger because of geopolitics before it bursts.” Shipping executives say the U.S. action late last month over allegations that the vessels were tied to illicit shipments of Iranian crude has hit more than 40 tankers operated by a subsidiary of Cosco Shipping Energy Transportation, one of the world’s largest tanker owners and a major carrier for China’s oil needs. Washington’s move pushed Asian and European importers searching for crude carriers in a tight market to secure oil cargoes as winter approaches. But with Iran and Venezuela oil exports also under U.S. sanctions and Saudi Arabian oil production still trying to recover from a missile attack in September, oil traders have been turning to the U.S. for crude shipments. The longer distance to move oil cargoes from the U.S. to Europe and Asia compared with moving them from the Middle East, has pushed daily charter rates for the big ships called very large crude carriers to their highest level since July 2008, according to Baltic Exchange data. “There is a lot of confusion and uncertainty out there,” said Paolo d’Amico, head of Intertanko, a trade body representing tanker owners. “Everyone is afraid of being hit by the U.S., sanctions, rendering about 50 VLCCs untouchable.” U.S. oil exports to Europe, which usually move in smaller tankers, hit a record 1.8 million barrels a day for the week ending Oct. 7, according to Kpler, an energy market intelligence company. The figure is double the 924,000 barrels in the previous week. But shipments to Asia, which are typically done on VLCCs, were reduced almost in half to 508,000 barrels. A Singapore broker said rates for some VLCC cargoes on sailings from the U.S. Gulf Coast to the Far East were more than $120,000 on Thursday. Average earnings for supertankers picking up cargoes from around the world hit $94,124 a day, up from $18,284 on Sept. 25, when Washington blacklisted the Cosco fleet. “VLCCs to Asia are a rare commodity, the market is red hot and will stay that way while the U.S. sanctions on Cosco ships are in place,” said the broker, who asked not to be named because he isn’t authorized to talk to the media. Senior U.S. and Chinese officials squared off in trade talks Thursday at a pivotal moment in the countries’ relationship with President Trump planning to meet with the head of the Chinese negotiating team, Chinese Vice Premier Liu He, when the talks are scheduled to conclude Friday. People with knowledge of the matter said the Chinese delegation planned to bring up the tanker ban during the talks. Cosco Energy’s parent company, state-owned Cosco Shipping Group, is the world’s biggest shipping operator in terms of overall capacity, operating more than 1,100 vessels of all types, including container ships, tankers and bulk carriers. The company is also a part of Beijing’s multitrillion-dollar Belt and Road initiative that aims to establish infrastructure and distribution channels to help extend China’s influence around the world. The Cosco tanker ban covers around 6% of the global VLCC fleet but other factors are leaving shipping capacity tight. Many large tankers and smaller ships are in dry dock being retrofitted with sulfur-trapping exhaust systems ahead of a regulation to clean up ship emissions that goes into effect in January. “The [freight rate] expectations going into 2020 were already high because of the 2020 climate regulations,” said Evangelos Marinakis, chairman of Athens-based Capital Maritime & Trading Corp., which operates 10 VLCCs. “With so many geopolitical and industry-specific factors now pushing the market, it’s hard to predict when it will settle. But we expect the current strength to continue well into next year.” '

[edmundshaw] 17/10/2019 13:09

Nice uptick. Don't tell me there is good news on the way!?!