Rs Platou Markets News

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped on Wednesday. The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 3 points, or 0.53 percent, to 565 points. The Baltic's capesize index fell 26 points, or 5.69 percent, to 431 points. "A cyclone outside Australia is threatening to close the Dampier port and as a consequence miners are withdrawing from booking vessels as their schedules are unclear," RS Platou Markets analyst Frode Morkedal said in a note on Wednesday. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $242 to $4,357.

Long-range clean tanker rates were softer on Wednesday as business was slow, with weaker sentiment keeping rates under pressure. Larger Long-Range 2 or LR2, 75,000 tonne shipments on the Middle East Gulf to Japan (MEG-JPN) route were at W115.50 or $21,207 a day on Wednesday. That compared with W116.00 or $21,380 a day on Tuesday and W118.83 or $22,618 a day last Wednesday. "The LR2 market in the East has come down another 2.5 points this week as we are now looking at W115 for MEG-JPN," broker Fearnleys said on Wednesday. That compared with W117.10 or $11,470 a day on Tuesday and W123.55 or $13,653 a day last Wednesday. Rates for medium-range (MR) tankers for 37,000 tonne cargoes on the TC2 route from Rotterdam to New York were W117.75, or $7,442 a day.

Crude oil tanker earnings on the major Middle East route were steady this week, helped by light bookings although rates have yet to rebound after a recent surge late last month. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan <DFRT-ME-JAP> on Thursday reached W42.57 in the worldscale measure of freight rates, or $14,080 a day when translated into average earnings, the latest Baltic Exchange data showed. That compared with W41.21 or $11,142 a day on Wednesday and W46.90 or $20,727 a day last Thursday. "Activity has ... revived but the tempo is firmly in the control of the charterers. Again, firm business is being overwhelmed with offers and the competition among owners remain fierce," broker Fearnleys said.

Höegh LNG Partners LP  a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd., announced today the pricing of its initial public offering of 9,600,000 common units representing limited partner interests in the Partnership at $20.00 per unit. The Partnership has also granted the underwriters a 30-day option to purchase up to 1,440,000 additional common units. The common units being offered represent a 36.5% limited partner interest in the Partnership, or a 42.0% limited partner interest if the underwriters exercise in full their option to purchase additional common units. Höegh LNG Holdings Ltd. will own the Partnership's general partner and the remaining limited partner interest.

Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,600,000 common units representing limited partner interests in the Partnership pursuant to a registration statement on Form F-1 previously filed with the U.S. Securities and Exchange Commission (the "SEC"). The Partnership intends to grant the underwriters a 30-day option to purchase up to 1,440,000 additional common units. The common units are expected to trade on the New York Stock Exchange under the symbol "HMLP". The common units being offered represent a 36.5% limited partner interest in the Partnership…

Rising oil exports from Libya after months of disruption helped push Mediterranean tanker rates to the highest levels in nearly six months on Wednesday, and shipping players expected more gains in earnings as shipments from the OPEC member step up. Aframax tankers on the Mediterranean route, which transport the majority of Libya's crude oil, normally carry loads of up to 600,000-700,000 barrels. Rates have been depressed in recent months due in part to slower exports from Libya. Cross Mediterranean rates for aframax tankers rose on Wednesday to W126.70 in the worldscale measure of freight rates, or $32,080 a day when translated into average earnings, their highest level since late January, Baltic Exchange data showed.

Crude oil tanker earnings on the major Middle East route remained under pressure on Tuesday as the market struggled to absorb a glut of tankers due to slower business. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan reached W36.71 in the Worldscale measure of freight rates, or $5,550 a day when translated into average earnings. That compared with W36.85 or $5,430 a day on Monday and W38.42 or $8,273 a day last Tuesday. "(VLCC) rates remain at a relatively weak level due to high vessel availability," Pareto Securities said. In January, average earnings reached just over $61,000 a day - their highest since February 2010, before the rally lost steam.

Deliveries of new gas tankers have created a glut that is threatening to tip some operators into losses, just as other shipping markets emerge from their worst downturn in decades. The liquefied natural gas (LNG) tanker market was until recently the only bright spot in an otherwise depressed freight industry. A global surge in the demand for gas, led by Japan in 2011, boosted trade, tied vessels to longer routes and drove rental rates to record highs. But the 119 new carriers ordered from 2011 will have expanded the fleet by over 30 percent by end-2017.

Reuters - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, rose 19 points to 1,562. The Baltic's capesize index rose 43 points or 1.4 percent to 3,023 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $505 at $24,748. The panamax index increased 13 points, or 1.2 percent, to 1,088 points. Average daily earnings for panamaxes, which usually carry 60,000- to 70,000-tonne cargoes of coal or grains, were up $106 at $8,757.

Scorpio Bulkers Inc. say it has increased the size of its public offering from the initially announced 15,500,000 common shares to 31,300,000 common shares for gross proceeds of $305,175,000. The Company has granted the underwriters a 30-day option to purchase up to 4,695,000 additional common shares, and they say they plan to use all of the net proceeds of this offering to fund newbuilding vessel capital expenditures. Scorpio Bulkers has contracted and agreed to purchase 28 Ultramax…

The bulk ship owners announce its initial public offering of 15,500,000 common shares, granting the underwriters a 30-day option to purchase up to 2,325,000 additional common shares. Scorpio say that the net proceeds of this public offering are expected to be used to fund newbuilding vessel capital expenditures, including capital expenditures related to the Company's initial fleet, and for general corporate purposes, including working capital. They add that on December 2, 2013…

Scorpio Bulkers Inc. has completed their private placement of 33,400,000 new ordinary shares of $0.01 par value at a subscription price of NOK 53.50, raising approximately $300 million in gross proceeds. The proceeds from the Private Placement, say Scorpio, will be used to part finance construction of a series of fuel efficient dry bulk vessels and for general corporate purposes. RS Platou Markets AS acted as Sole Manager in the Private Placement. www.scorpiobulkers.com

Monaco-based Scorpio Tankers Inc.intends to offer and sell 20,000,000 shares of its common stock in an underwritten public offering. The net proceeds of this offering are expected to be used for product tanker vessel and LPG carrier acquisitions, working capital and other general corporate purposes. UBS Securities LLC is acting as sole book-running manager in the offering, RS Platou Markets AS is acting as Joint Lead Manager and Global Hunter Securities, LLC is acting as Co-Manager. The Company also intends to grant the underwriters a 30-day option to purchase additional shares of common stock representing 15% of the offered shares. A prospectus supplement related to the offering will be filed with the U.S.

The boom in U.S. natural-gas supplies is boosting chemical exports to Asia, driving up demand for specialized ships that carry the products and sending freight rates to a five-year high, reports Bloomberg. Earnings for tankers carrying 20,000 metric-ton cargoes in stainless-steel tanks will rise 12 percent to an average of $14,500 a day next year, the most since 2009, according to Bloomberg, citing RS Platou Markets AS, the investment-banking unit of Norway’s largest shipbroking group. China, the largest importer, is on course to buy more than ever, pushing fleet use to 87.2 percent of available transportation capacity this year and 89.8 percent in 2014, the highest since 2008, Platou estimates. Source: Bloomberg

Scorpio Tankers Inc. (STNG) is offering a minimum of 3.5 million shares of its common stock in a registered direct placement at a price of $6.75 per share, for which Evercore Group L.L.C. and RS Platou Markets AS are acting as placement agents. The net proceeds of the offering are expected to be used to partially repay outstanding indebtedness under the Company's 2010 Revolving Credit Facility  and for general corporate purposes, including vessel acquisitions and working capital. The Company intends to re-draw all or a portion of the amount available under the 2010 Revolving Credit Facility for working capital and general corporate purposes and to fund future vessel acquisitions.

Crude Carriers Corp. announced that it has priced its initial public offering of 13,500,000 common shares at $19 per share. The underwriters have an option to purchase up to an additional 2,025,000 common shares to cover overallotments. Crude Carriers Corp. will use substantially all the proceeds from the offering, together with a $40m capital contribution from Crude Carriers Investments Corp., to acquire one 2006-built high specification Suezmax vessel from Capital Maritime & Trading Corp. at a price of $71.3m and two newbuilt very large crude carrier (VLCC) tankers for $96.5m each upon their delivery from the yard. The company’s common shares will trade on The New York Stock Exchange under the symbol CRU.