Category: Transportation

Pangaea Logistics Solutions Ltd. (PANL) – NobleCon 17 Presentations Reinforce Positive Trends

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Monday, January 25, 2021

Pangaea Logistics Solutions Ltd. (PANL)
NobleCon 17 Presentations Reinforce Positive Trends

Pangaea Logistics Solutions Ltd and its subsidiaries provide seaborne drybulk transportation services. It transports drybulk cargos including grains, coal, iron, ore, pig, iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The firm’s services include cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management. The company derives all of its revenues from contracts of affreightment, voyage charters and time charters. Its strategy depends on focusing on increasing strategic contracts of affreightment, expanding capacity and flexibility by increasing its owned fleet and increasing backhaul focus and fleet efficiency.

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 dry bulk market and unique business model. Managing Director Mads Boye Peterson and CFO Gianni DelSignore offered a solid case for PANL in a presentation last week, and Mads highlighted the positive trends in the dry bulk market on the industry panel. Go to Channelchek: https://channelchek.vercel.app/news-channel/NobleCon17_Rebroadcast for replay info.

    Unique cargo-focused strategy generates rate outperformance and enhances operating flexibility.  The strategy adds operating leverage through chartering-in vessels to meet cargo demand. Charter strategy allows control/management of 45-60 vessels, including 17 owned vessels. The balanced strategy generates positive results across different rate environments and consistent rate outperformance …



This Company Sponsored 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. 

Genco Shipping & Trading Limited (GNK) – Positive Trends Highlighted at NobleCon17

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Monday, January 25, 2021

Genco Shipping & Trading Limited (GNK)
Positive Trends Highlighted at NobleCon17

Genco Shipping & Trading Limited, incorporated on September 27, 2004, transports iron ore, coal, grain, steel products and other drybulk cargoes along shipping routes through the ownership and operation of drybulk carrier vessels. The Company is engaged in the ocean transportation of drybulk cargoes around the world through the ownership and operation of drybulk carrier vessels. As of December 31, 2016, its fleet consisted of 61 drybulk carriers, including 13 Capesize, six Panamax, four Ultramax, 21 Supramax, two Handymax and 15 Handysize drybulk carriers, with an aggregate carrying capacity of approximately 4,735,000 deadweight tons (dwt). Of the vessels in its fleet, 15 are on spot market-related time charters, and 27 are on fixed-rate time charter contracts. As of December 31, 2016, additionally, 19 of the vessels in its fleet were operating in vessel pools.

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 John Wobensmith made a solid case for GNK in a presentation last week, and the positive trends in the dry bulk market were highlighted on the industry panel. Go to Channelchek: https://channelchek.vercel.app/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 unprecedented global …



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. 

Great Lakes Dredge & Dock (GLDD) – NobleCon17 Presentation Highlights Positive Dredging Outlook

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Monday, January 25, 2021

Great Lakes Dredge & Dock (GLDD)
NobleCon17 Presentation Highlights Positive Dredging Outlook

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only’s operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    NobleCon17 presentation highlights positive dredging market outlook. CEO Lasse Petterson and CFO Mark Marinko offered a solid case for GLDD in a presentation last week. Go to Channelchek: https://channelchek.vercel.app/news-channel/NobleCon17_Rebroadcast for replay info.

    Dredging market outlook remains solid and potential infrastructure spending creates tailwind.  Recent awards are positive signals after the loss on the Spanish Ridge work in Louisiana in December. Other positives include stronger global LNG prices that could help move the NextDecade (NEXT) LNG project to FID and the potential higher infrastructure spending in fiscal stimulus plans. While competition …



This Company Sponsored 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. 

Euroseas Ltd. (ESEA) – NobleCon 17 Presentation Highlights Strong Container Market

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Monday, January 25, 2021

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://channelchek.vercel.app/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. 

Eagle Bulk Shipping (EGLE) – Year Off to Good Start – Flat Water and Blue Sky?

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Monday, January 25, 2021

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://channelchek.vercel.app/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. 

Seanergy Maritime (SHIP) NobleCon17 Presentation Replay

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Seanergy Maritime (SHIP) CEO Stamatis Tsantanis at NobleCon17 – Noble Capital Markets 17th Annual Small & Microcap Investor Conference – January 2021. Following the formal presentation, Noble Capital Markets Senior Research Analyst Poe Fratt joins Stamatis to moderate a Q&A session.

NobleCon 17 Complete Rebroadcast

Pyxis Tankers (PXS) NobleCon17 Presentation Replay

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Pyxis Tankers (PXS) CEO Eddie Valentis and CFO Henry Williams at NobleCon17 – Noble Capital Markets 17th Annual Small & Microcap Investor Conference – January 2021. Following the formal presentation, Noble Capital Markets Senior Research Analyst Poe Fratt joins Eddie and Henry to moderate a Q&A session.

NobleCon 17 Complete Rebroadcast

Pangaea Logistics (PANL) NobleCon17 Presentation Replay

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Pangaea Logistics (PANL) CFO Gianni Del Signore and Managing Director Mads Petersen at NobleCon17 – Noble Capital Markets 17th Annual Small & Microcap Investor Conference – January 2021. Following the formal presentation, Noble Capital Markets Senior Research Analyst Poe Fratt joins Gianni and Mads to moderate a Q&A session.

NobleCon 17 Complete Rebroadcast

Orion Group Holdings (ORN) NobleCon17 Presentation Replay

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Orion Group Holdings (ORN) VP & CFO Robert Tabb at NobleCon17 – Noble Capital Markets 17th Annual Small & Microcap Investor Conference – January 2021. Following the formal presentation, Noble Capital Markets Senior Research Analyst Poe Fratt joins Robert to moderate a Q&A session.

NobleCon 17 Complete Rebroadcast

International Seaways (INSW) NobleCon17 Presentation Replay

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International Seaways (INSW) CEO Lois Zabrocky at NobleCon17 – Noble Capital Markets 17th Annual Small & Microcap Investor Conference – January 2021. Following the formal presentation, Noble Capital Markets Senior Research Analyst Poe Fratt joins Lois to moderate a Q&A session.

NobleCon 17 Complete Rebroadcast

Great Lakes Dredge & Dock (GLDD) NobleCon17 Presentation Replay

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Great Lakes Dredge & Dock (GLDD) CFO Mark Marinko at NobleCon17 – Noble Capital Markets 17th Annual Small & Microcap Investor Conference – January 2021. Following the formal presentation, Noble Capital Markets Senior Research Analyst Poe Fratt joins Mark to moderate a Q&A session.

NobleCon 17 Complete Rebroadcast

Grande West Transportation Group (BUSXF) NobleCon17 Presentation Replay

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Grande West Transportation Group (BUSXF) CEO Willian Trainer at NobleCon17 – Noble Capital Markets 17th Annual Small & Microcap Investor Conference – January 2021. Following the formal presentation, Noble Capital Markets Senior Research Analyst Poe Fratt joins Willian to moderate a Q&A session.

NobleCon 17 Complete Rebroadcast

Global Crossing Airlines (JETMF) NobleCon17 Presentation Replay

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Global Crossing Airlines (JETMF) EVP, CFO Ryan Goepel at NobleCon17 – Noble Capital Markets 17th Annual Small & Microcap Investor Conference – January 2021. Following the formal presentation, Noble Capital Markets Senior Research Analyst Poe Fratt joins Ryan to moderate a Q&A session.

NobleCon 17 Complete Rebroadcast