Capital Link Shipping Weekly Markets Report
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Capital Link Shipping Weekly Markets Report Monday, October 17, 2011 (Week 41) IN THE NEWS → Latest Company News → 4th Annual International Shipping & Marine Services Forum - London → Shipping & Offshore CSR Forum - London → Investor Relations: Maximizing the Potential of the US Marketplace → Select Dividend Paying Shipping Stocks → Weekly China Update CAPITAL MARKETS DATA → Currencies, Commodities & Indices → Shipping Equities - Weekly Review → Weekly Trading Statistics, by Knight Capital → Shipping Bonds - Weekly Review, by Knight Capital SHIPPING MARKETS → The Week In Review, by Golden Destiny → Dry Bulk Market - Weekly Highlights, by Intermodal Shipbrokers → Tanker Market - Weekly Highlights, by Charles R. Weber Company → Weekly Tanker Market Opinion, by Poten & Partners → Weekly Freight Rate & Asset Trends, by Intermodal Shipbrokers → Container Market - Weekly Highlights, by Braemar Seascope → S&P Secondhand, Newbuilding & Demolition Markets, by Golden Destiny → Forward Freight Agreements - FFAs, by SSY Futures EVENTS → Conference Call Calendar TERMS OF USE & DISCLAIMER CONTENT CONTRIBUTORS Capital Link Shipping ...Linking Shipping and Investors Across the Globe Capital Link is a New York-based Advisory, Investor Relations and Financial Communications firm. Capitalizing on our in-depth knowledge of the shipping industry and capital markets, Capital Link has made a strategic commitment to the shipping industry becoming the largest provider of Investor Relations and Financial Communications services to international shipping companies listed on the US and European Exchanges. Capital Link's headquarters are in New York with a presence in London and Athens. Investor Relations & Financial Advisory Operating more like a boutique investment bank rather than a traditional Investor Relations firm, our objective is to assist our clients enhance long term shareholder value and achieve proper valuation through their positioning in the investment community. We assist them to determine their objectives, establish the proper investor outreach strategies, generate a recurring information flow, identify the proper investor and analyst target groups and gather investor and analyst feedback and related market intelligence information while keeping track of their peer group. Also, to enhance their profile in the financial and trade media. In our effort to enhance the information flow to the investment community and contribute to improving investor knowledge of shipping, Capital Link has undertaken a series of initiatives beyond the traditional scope of its investor relations activity, such as: www.CapitalLinkShipping.com A web based resource that provides information on the major shipping and stock market indices, as well as on all shipping stocks. It also features an earnings and conference call calendar, industry reports from major industry participants and interviews with CEOs, analysts and other market participants. Capital Link Shipping Weekly Markets Report Weekly distribution to an extensive audience in the US & European shipping, financial and investment communities with updates on the shipping markets, the stock market and listed company news. www.CapitalLinkWebinars.com Sector Forums & Webinars: Regularly, we organize panel discussions among CEOs, analysts, bankers and shipping industry participants on the developments in the various shipping sectors (containers, dry bulk, tankers) and on other topics of interest (such as Raising Equity in Shipping Today, Scrapping, etc). Capital Link Investor Shipping Forums In New York, Athens and London bringing together investors, bankers, financial advisors, listed companies CEOs, analysts, and shipping industry participants. www.MaritimeIndices.com Capital Link Maritime Indices: Capital Link developed and maintains a series of stock market maritime indices which track the performance of U.S. listed shipping stocks (CL maritime Index, CL Dry Bulk Index, CL Tanker Index, CL Container Index, CL LNG/LPG Index, CL Mixed Fleet Index, CL Shipping MLP Index – Bloomberg page: CPLI. The Indices are also distributed through the Reuters Newswires and are available on Factset. Capital Link - New York - London - Athens New York - 230 Park Avenue, Suite 1536, New York, NY, 10169 Tel.: +1 212 661 7566 Fax: +1 212 661 7526 www.capitallink.com London - Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K Tel. +44(0) 203 206 1320 Fax. +44(0) 203 206 1321 www.capitallinkforum.com Athens - 40, Agiou Konstantinou Str, Suite A 5, 151-24 Athens, Greece Tel. +30 210 6109 800 Fax +30 210 6109 801 Capital Link Shipping Monday, October 17, 2011 (Week 41) Weekly Markets Report IN THE NEWS Latest Company News Monday, Oct 10, 2011 Wednesday, Oct 12, 2011 Star Bulk Announces Signing of $64.5 Million Loan Facility Teekay LNG Partners and Marubeni Joint Venture to Acquire With HSH Nordbank Ownership Interest in Eight LNG Carriers From A.P. Moller- Maersk A/S Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that it has entered into a new $64.5 million secured term loan agreement Teekay LNG Partners L.P. announced that its joint venture (the with HSH Nordbank, which has up to a five year term and bears Joint Venture) with Marubeni Corporation (Marubeni) has agreed interest at LIBOR plus a margin. The borrowings under this new to acquire ownership interests in eight liquefied natural gas (LNG) loan agreement together with $5.3 million in cash were used to carriers from Denmark-based global conglomerate, A.P. Moller- repay in full the Company’s two existing loan facilities with Piraeus Maersk A/S, for an aggregate purchase price of approximately Bank as agent and lender, respectively. $1.402 billion. The transaction includes the acquisition by the Joint Venture of 100 percent ownership interests in six LNG carriers and Goldenport Announces Transactions in Own Shares 26 percent ownership interests in two additional LNG carriers. Goldenport Holdings Inc. (LSE: GPRT) announced that on 7 October 2011 it purchased through Panmure Gordon (UK) Limited NewLead Holdings Ltd. Announces Second Favorable 17,588 of its ordinary shares of US$0.01 each (“Shares”) at a price Arbitration Award Against TMT Bulk Corp. and Withdrawal of per Share of 71.875 pence. Following the purchase, the Company Vessel from Service holds 156,202 Shares in treasury and has 91,132,352 Shares in issue (excluding Shares held in treasury). The above figure of NewLead Holdings Ltd. (NASDAQ:NEWL) announced that it has 91,132,352 may be used by shareholders as the denominator for recently received a second favorable arbitration award against the calculations by which they will determine if they are required to TMT Bulk Corp. (“TMT”) for $1,969,821.75 inclusive of interest and notify their interest in, or a change to their interest in, the Company costs. This is the second favorable arbitration award to NewLead. under the FSA’s Disclosure and Transparency Rules. The total amount received to date, under both arbitration awards is $3,968,757.71. Furthermore, in early October 2011, the Company withdrew the second vessel chartered-out to TMT. The first vessel Tuesday, Oct 11, 2011 was withdrawn from TMT’s service in late September 2011. Costamare Inc. Declares Quarterly Dividend of $0.27 per Share Ocean Rig UDW Inc. Announces Additional Well Contracts for the Eirik Raude The Board of Directors of Costamare Inc. (NYSE: CMRE) approved management’s recommendation to increase the dividend from Ocean Rig UDW Inc. (NASDAQ: ORIG) announced that it has $0.25 per share to $0.27 per share and declared a cash dividend entered into drilling contracts for three additional wells offshore on its common stock of $0.27 per common share payable on West Africa, with two independent oil operators based in the UK November 7, 2011 to stockholders of record at the close of trading and the USA respectively, for the semi-submersible rig Eirik Raude. of the Company’s common stock on the New York Stock Exchange The total revenue backlog, excluding mobilization cost, to complete on October 21, 2011. The Company has 60,300,000 shares of the three wells program is estimated at $96 million for a period common stock outstanding as of today. of approximately 175 days. The new contracts will commence in direct continuation after the completion of the existing Tullow Goldenport Announces Transactions in Own Shares contract around mid-October. Goldenport Holdings Inc. (LSE: GPRT) announced that on 10 Goldenport Announces Transactions in Own Shares October 2011 it purchased through Panmure Gordon (UK) Limited 15,147 of its ordinary shares of US$0.01 each (“Shares”) at a price Goldenport Holdings Inc. (LSE: GPRT) announced that on 11 per Share of 71.875 pence. Following the purchase, the Company October 2011 it purchased through Panmure Gordon (UK) Limited holds 171,349 Shares in treasury and has 91,117,205 Shares in 15,066 of its ordinary shares of US$0.01 each (“Shares”) at a price issue (excluding Shares held in treasury). The above figure of per Share of 71.75 pence. Following the purchase, the Company 91,117,205 may be used by shareholders as the denominator for holds 186,415 Shares in treasury and has 91,102,139 Shares in the calculations by which they will determine if they are required to issue (excluding Shares held in treasury). The above figure of notify their interest in, or a change to their interest in, the Company 91,102,139 may be used by shareholders as the denominator for under the FSA’s Disclosure and Transparency Rules. the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA’s Disclosure and Transparency Rules. Page 3 ABOUT THE SHIPPING MAN When restless New York City hedge fund manager Robert Fairchild watches the Baltic Dry Cargo Index plunge 97%, registering an all-time high and a 25-year low within the span of just six months, he decides to buy a ship. Immediately fantasizing about naming a vessel after his wife, carrying a string of worry beads and being able to introduce himself as a “shipowner” at his upcoming college reunion, Fairchild immediately embarks on an odyssey into the most exclusive, glamorous and high stakes business in the world.