Value Investor's Edge provides the world's best shipping market research. Even during turbulent market conditions, our long-only models have massively outperformed the broad markets, including beating the S&P 500 by 75% in 2022. VIE research has driven an IRR of 38.7% over the past 10 years, driving cumulative returns of over 25x which proves the ability of our research team to outperform across a variety of market conditions.In the following report, I highlight how the shipping industry has been a source o ...

Navios Maritime Partners L.P. (NYSE:NMM) Third Quarter 2025 Earnings Presentation November 18, 2025 Forward-Looking Statements This presentation contains and will contain forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, TCE rates and Navios Partners' expected cash flow generation, future contracted revenues, future distributions and its ability to make distributions g ...

Core Insights - The current market presents a unique opportunity for international deep value investing, with significant discounts in international stocks compared to U.S. equities, particularly in Europe and Asia [2][4][5] Valuation Discrepancies - As of late 2025, international stocks are trading at their steepest discount to U.S. equities in over two decades, with the MSCI EAFE Index at approximately half the forward price-to-earnings multiple of the S&P 500 [2][4] - The deep-value segment of international markets is in the bottom decile of historical valuations, indicating extraordinary cheapness [4][5] Market Dynamics - A decade of U.S. market dominance has led to skepticism towards international markets, despite their current undervaluation [5][6] - The Federal Reserve's interest rate policies have strengthened the dollar, making international assets less attractive, but this creates opportunities as the dollar normalizes [6][7] Investment Strategy - The value factor, which involves buying companies at a discount to their intrinsic worth, has historically delivered superior returns, especially when combined with international diversification [8] - An asset-based approach is crucial for identifying deep value opportunities, focusing on companies trading below the value of their actual assets [9][10] Regional Opportunities - Europe is experiencing a structural change with increased infrastructure and defense spending, creating opportunities in construction materials and industrial sectors [13] - Japan's corporate governance reforms are leading to improved capital allocation and shareholder returns, unlocking previously ignored value [14] - Emerging markets, particularly Brazil and India, present extraordinary value despite current challenges [15] Specific Company Examples - LEG Immobilien SE operates in the German residential housing market, benefiting from a structural housing shortage and maintaining strong financial performance [22][23][24] - Aida Engineering Ltd is positioned to capitalize on the transition to electric vehicles and fuel cell technology, trading at a valuation that reflects stagnation rather than growth [29][34] - KNOT Offshore Partners LP operates specialized shuttle tankers with contracted cash flows, trading at a valuation that suggests significant undervaluation [39][45] Historical Context - Historical patterns indicate that periods of deep value underperformance often precede substantial returns for value investors [20][50] - Current market conditions resemble past cycles where undervalued, fundamentally sound businesses eventually gained recognition [55][58]

ATHENS, Greece and NEW YORK, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Heidmar Maritime Holdings Corp. (the "Company" or "Heidmar") (NASDAQ: HMR) is strengthening its market position by adding super-eco vessels to its managed fleet under commercial and technical management agreements. These strategic fleet expansions enhance Heidmar’s presence in both crude oil and clean petroleum product markets. Fleet Developments: One Suezmax newbuild tanker: A newbuilding Suezmax tanker, constructed at New Times Shipbuilding Co ...

Company Performance - Firefly Aerospace Inc. is expected to report a quarterly loss of 46 cents per share on revenue of $17.25 million [2] - PRA Group Inc. announced a proposed offering of €300 million of senior notes due 2032, with shares falling 4.1% to close at $16.58 [2] - Genfit SA is projected to release earnings results for the first half of the year, with shares declining 1.2% to close at $4.33 [2] - Globus Maritime Ltd reported better-than-expected second-quarter results, with a quarterly loss of 9 cents per share, beating the consensus estimate of a loss of 18 cents per share, and quarterly sales of $9.538 million exceeding the estimate of $8.800 million; shares jumped 14.7% to close at $1.30 [2] - Marygold Companies Inc. posted a loss of 4 cents per share for the fourth quarter, an improvement from a loss of 5 cents per share a year ago, with sales falling to $7.200 million from $8.300 million; shares closed at $1.07 [2]

Core Viewpoint - C3is Inc. reported its financial and operational results for Q2 and the first half of 2025, highlighting a decrease in revenues and TCE rates, alongside a net loss for the quarter but a net income for the six-month period [1][8][9]. Operational and Financial Highlights - The company operates handysize dry bulk carriers on short-term charters, generating steady cash flows, while its Aframax tanker operates in the spot market with current voyage charter rates around $25,000 per day [4]. - Fleet operational utilization was 78% for Q2 2025, down from 87.7% in Q2 2024, primarily due to idle days of the Aframax tanker [4][19]. - Revenues for Q2 2025 were $10.7 million, a slight decrease from $10.8 million in Q2 2024, with a daily TCE of $16,466, down 31% from $23,938 in the same period last year [4][29]. - The company reported a net loss of $5.3 million for Q2 2025, with an EBITDA of $(3.7) million and a loss per share of $8.78 [4][30]. - For the first half of 2025, net income was $2.6 million, with earnings per share of $0.52, contrasting with a net loss of $7.97 million in the first half of 2024 [8][12]. Financial Performance - Adjusted net income for Q2 2025 was $1.1 million, a 62% decrease from $2.9 million in Q2 2024, while adjusted EBITDA was $2.8 million, down 43% from $4.9 million [4][12]. - The company settled a $14.6 million balance for the bulk carrier Eco Spitfire in April 2025, funded by operations and equity offerings [4][8]. - Total voyage revenues for the first half of 2025 were $19.4 million, down from $23.6 million in the same period of 2024, primarily due to lower average TCE rates [6][12]. - The average number of vessels owned increased from 3.3 in the first half of 2024 to 4.0 in 2025, contributing to increased operational expenses [6][12]. Industry Context - The maritime shipping industry is experiencing significant changes due to geopolitical factors, environmental regulations, and demand fluctuations, yet C3is Inc. has maintained solid performance with a fleet capacity increase of over 230% since inception without incurring bank debt [9][10]. - The company emphasizes its fully deleveraged position, enhancing financial flexibility and providing a strong foundation for future growth [10].

Dividend Announcements - On 8/11/25, Apple, Navios Maritime Partners, and W.W. Grainger will trade ex-dividend for their upcoming dividends, with Apple paying $0.26, Navios Maritime Partners $0.05, and W.W. Grainger $2.26 [1] - The dividends will be paid on 8/14/25 for Apple and Navios Maritime Partners, and on 9/1/25 for W.W. Grainger [1] Stock Price Adjustments - Following the ex-dividend date, Apple shares are expected to trade approximately 0.12% lower, Navios Maritime Partners 0.11% lower, and W.W. Grainger 0.24% lower, based on their respective dividend yields [2] Dividend History and Stability - Apple is a contender for the "Dividend Aristocrats" index, having increased dividends for over 14 years, while Navios Maritime Partners and W.W. Grainger have their own historical dividend records [3] - The estimated annualized yields are projected to be 0.49% for Apple, 0.44% for Navios Maritime Partners, and 0.94% for W.W. Grainger, indicating a level of stability in their dividend payments [7] Recent Stock Performance - In recent trading, Apple shares are up about 5.1%, Navios Maritime Partners shares are up about 1.7%, and W.W. Grainger shares are up about 2.6% [8]

Core Viewpoint - Heidmar Maritime Holdings Corp. will release its second quarter financial results for the period ending June 30, 2025, on August 11, 2025, after market close, followed by a conference call on August 12, 2025, at 8:00 A.M. Eastern Time [1]. Group 1: Earnings Release Details - The earnings release is scheduled for August 11, 2025, after market closes [1]. - A conference call to discuss the financial results will take place on August 12, 2025, at 8:00 A.M. Eastern Time [1]. Group 2: Conference Call Information - Participants should dial in 10 minutes before the scheduled time using specific toll-free numbers [2]. - The conference ID is 13755352, and participants are advised to quote "Heidmar" to the operator [2]. Group 3: Webcast and Presentation - A live and archived webcast of the conference call will be available on the Company's website, along with accompanying slides [4]. - Participants are encouraged to register approximately 10 minutes prior to the start of the webcast [4]. Group 4: Company Overview - Heidmar is celebrating its 40th anniversary and operates in the crude and product tanker market, focusing on safety, performance, and transparency [5]. - The Company has a global presence with operations in Athens, London, Singapore, Chennai, Hong Kong, and Dubai, aiming to maximize customer profitability [5]. - Heidmar offers a comprehensive range of maritime services, positioning itself as a reliable partner in the shipping sector [5].

Core Insights - Heidmar (NASDAQ: HMR) has been added to the Capital Link Company Presentation Series, with CEO Pankaj Khanna providing an overview of the company's business model and growth strategy [1][2] Company Overview - Heidmar is a commercial and pool management business celebrating its 40th anniversary, focusing on the crude and product tanker market, with a commitment to safety, performance, relationships, and transparency [3] - The company operates in multiple locations including Athens, London, Singapore, Chennai, Hong Kong, and Dubai, aiming to maximize profitability for vessel owners through a "one stop" solution for maritime services [3] Business Strategy - Heidmar's approach to vessel management is differentiated, focusing on commercial and technical aspects while expanding its market presence across tanker, dry bulk, and container segments [2] - The company aims to drive long-term value for shipowners and investors through its unique business model and extensive maritime experience [2][3]

Core Points - Heidmar Maritime Holdings Corp. will release its first quarter results for the period ending March 31, 2025, after market closes on June 10, 2025 [1] - A conference call to discuss the financial results will take place on June 11, 2025, at 8:00 A.M. Eastern Time [1] Conference Call Details - Participants should dial in 10 minutes before the scheduled time using specific toll-free numbers [2] - An alternative "call me" option is available for faster connection to the conference call [3] Webcast Information - A live and archived webcast of the conference call will be available on the Company's website, along with accompanying slides [4] Company Overview - Heidmar is celebrating its 40th anniversary and operates in the crude and product tanker market, focusing on safety, performance, and transparency [5] - The Company has operations in multiple global locations, including Athens, London, Singapore, Chennai, Hong Kong, and Dubai [5] - Heidmar aims to provide a comprehensive solution for vessel owners in the maritime services sector [5]