In the world of high-stakes macroeconomics, there is a traditional way of doing things: white papers, congressional hearings, and perhaps a sober press release from the Treasury Department. Then there is the 2026 way of doing things, which apparently involves the Supreme Court telling the President he can’t do something, and the President responding by doing that exact thing, only 50% more “obnoxiously.” It is a bold strategy, and if the DOW (-1.85%) is any indication, investors are currently reaching for t ...

Group 1: Shipping Industry Performance - The Breakwave Tanker Shipping ETF (BWET) and Breakwave Dry Bulk Shipping ETF (BDRY) have seen significant YTD gains of 100% and 31% respectively, driven by record crude oil tanker shipping rates and strong demand for dry bulk shipping [1][1][1] - Crude oil tanker rates nearly tripled over the last year, with a shortage of tanker vessels contributing to soaring rates in February [1][1][1] - South Korean shipping company Sinokor Group has gained a substantial share of the tanker market, controlling at least 120 VLCCs, which has driven up shipping costs [1][1][1] - Dry bulk shipping rates are rising due to strong demand for critical metals and limited vessel availability along key trading routes [1][1][1] Group 2: South Korean Market Performance - South Korea's KOSPI Composite has increased over 30% YTD, driven by strong performances from AI and semiconductor companies like Samsung Electronics (+51.5%) and SK Hynix (+35.89%) [1][1][1] - The new Presidential administration's pro-reform agenda aimed at increasing shareholder value has also contributed to market enthusiasm [1][1][1] - ETFs such as the iShares MSCI South Korea ETF (EWY) are up 37.8% YTD, with other ETFs like Matthews Korea Active ETF (MKOR) and Franklin FTSE South Korea ETF (FLKR) also showing strong performance [1][1][1] Group 3: Oil Services Sector - The oil services sector has benefited from a 20% YTD increase in energy prices, with earnings estimates improving due to better prospects for energy pricing [1][1][1] - Companies like SLB are leveraging AI and digital technology to enhance efficiency and productivity in a tight pricing environment [1][1][1] - ETFs such as the VanEck Oil Services ETF (OIH) and others are up more than 33% YTD, reflecting the positive trends in the oil services industry [1][1][1]

Core Viewpoint - FedEx has initiated legal action seeking reimbursement for tariffs deemed unlawful by the Supreme Court, marking a significant move in the ongoing trade dispute and its financial implications for the company [2][8]. Group 1: Legal Action and Tariff Reimbursement - FedEx's lawsuit, filed on February 23, is the first major case seeking reimbursement since the Supreme Court ruled that the Trump administration lacked authority to impose tariffs under the International Economic Emergency Powers Act (IEEPA) [2]. - The company is requesting the U.S. Court of International Trade to mandate Customs and Border Protection (CBP) to refund all tariffs paid in the previous year under the IEEPA [2]. - The lawsuit asserts that FedEx, as an importer of goods subject to the IEEPA duties, has suffered injury due to the unlawful tariffs imposed [3]. Group 2: Financial Impact and Industry Context - FedEx had previously indicated an anticipated $1 billion headwind in its current fiscal year due to the global trade environment, with projections of a 9-to-10-figure impact from tariffs [7]. - Other companies, including Costco and Revlon, have also pursued legal action against the government prior to the Supreme Court's ruling [7]. - The Supreme Court's decision did not clarify the process for recovering duties already paid, leaving companies in a complex situation regarding potential refunds [9]. Group 3: Broader Implications of Tariffs - The tariffs imposed in recent years have been integrated into customer pricing, supplier contracts, and inventory strategies, complicating any potential recovery of duties [10]. - The financial records of many industries are settled, even as the legal framework for recovering tariffs remains undefined [10].

Core Viewpoint - The Panamanian government has annulled key port contracts held by CK Hutchison's subsidiary, transferring operations to A.P. Moller-Maersk and Mediterranean Shipping Co. [1][2] Group 1: Contract Annulment - The Panamanian Supreme Court ruled that the concessions for the Balboa and Cristobal terminals, held by Panama Port Company (a CK Hutchison subsidiary) for over 20 years, were unconstitutional [2] - The government has formally assumed control of the port facilities, including cranes, vehicles, and software, to ensure uninterrupted operations until a new concession is awarded within 18 months [2] Group 2: Interim Operations - APM Terminals, a Maersk unit, will operate Balboa port, while MSC's Terminal Investment will manage Cristobal port under the interim arrangement [3] - Following the announcement, CK Hutchison's shares fell by 0.9% at market open, although the stock has increased over 20% year-to-date [3]

Costs increased year over year. The CFO said daily vessel operating expenses rose 13% to $5,683, compared with $5,047 in the fourth quarter of 2024. Excluding drydocking and delivery expenses, daily vessel OpEx increased 6% to $5,057 from $4,787.Adamopoulos said Safe Bulkers averaged 45 vessels in operation during the fourth quarter of 2025 and generated an average time charter equivalent (TCE) of $17,050, compared with 45.9 vessels and a TCE of $16,521 in the year-ago quarter.Chief Financial Officer Konsta ...

Panama officially scraps CK Hutchison contracts, handing canal ports to Maersk | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Item 1 of 4 A drone view shows Panama Ports Company (PPC) after Panama's Official Gazette published a court ruling formally annulling Hong Kong's CK Hutchison Holdings concessions for two ports along its strategic canal, after ruling late January the contracts violated the constitution, in Panama City, Pana ...

Okeanis Eco Tankers Corp. (ECO) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked b ...

Core Viewpoint - Rubico Inc. has announced an agreement to acquire 100% of a Marshall Islands company that is a counterparty to a shipbuilding contract for a new medium-range oil tanker, with delivery scheduled for 2029 [1][2]. Group 1: Acquisition Details - The acquisition involves a purchase price of approximately $4.2 million for the shares of the Special Purpose Vehicle (SPV) [4]. - The transaction was approved by a special committee of independent board members, and a fairness opinion was obtained from an independent financial advisor [4]. Group 2: Financing Arrangements - The effectiveness of the shipbuilding contract is contingent upon the issuance of a customary refund guarantee and the conclusion of financing arrangements [2]. - The SPV is finalizing a lease financing agreement with ABC Financial Leasing Co., Ltd., which will cover the majority of the shipbuilding contract's price [2]. Group 3: Revenue Potential - A time charter employment has been secured with a major oil trader for the vessel, starting from its delivery for a firm duration of seven years, with an option to extend for four additional years [3]. - The total potential gross revenue backlog from this charter contract, including optional years, is estimated to be around $75 million [3]. Group 4: Company Overview - Rubico Inc. is a global provider of shipping transportation services, specializing in vessel ownership and operation [5]. - The company operates two modern, fuel-efficient Suezmax tankers and is incorporated in the Marshall Islands with executive offices in Athens, Greece [5].

Key Takeaways RELY, FTI, SHIP, AU and TPR screen for strong relative price strength.FTI's EPS is expected to grow 11.8% in 2026. The company beat estimates in 3 of 4 quarters.AU is set to experience 60% EPS growth in 2026.Wall Street stepped into 2026 with a solid footing after three powerful years of gains. Still, February brought fresh swings. Concerns about the long-term payoff from heavy AI spending triggered a rotation out of technology shares, even as many companies delivered strong earnings. The broa ...

Core Viewpoint - TOP Ships Inc. has entered into an agreement to acquire 100% of the shares of nine Marshall Islands companies, which are counterparties to shipbuilding contracts for nine very-high specification Medium Range product/chemical oil tankers, scheduled for delivery in 2028 and 2029 [1][2]. Group 1: Acquisition Details - The acquisition involves a total purchase price of approximately $41 million for the shares of the SPVs [4]. - The effectiveness of the shipbuilding contracts is contingent upon customary refund guarantees and the conclusion of financing arrangements [2]. - The SPVs are finalizing lease financing agreements with two major Chinese leasing companies, covering the majority of the shipbuilding contracts' price for all nine vessels [2]. Group 2: Revenue Potential - A major oil trader has secured time charter employment for all vessels for a firm duration of seven years, with an option to extend for an additional four years [3]. - The total potential gross revenue backlog from these contracts, including optional years, is estimated to be around $679 million [3]. Group 3: Governance and Oversight - The transaction was approved by a special committee of independent members of the Company's board of directors, which obtained a fairness opinion from an independent financial advisor [4].