Group 1 - The merger between Golden Ocean Group Limited and CMB.TECH NV is set to be completed on or around 20 August 2025, pending a positive outcome from the Golden Ocean Special General Meeting on 19 August 2025 [1][2] - Golden Ocean will not issue a separate report for Q2 2025, as its results will be included in CMB.TECH's Q2 2025 results [2] - The last day of trading for Golden Ocean shares on OSE and NASDAQ is 19 August 2025, with the first day of trading for the combined company on 20 August 2025 [4] Group 2 - Golden Ocean operates a fleet of 89 vessels with a total capacity of approximately 13.5 million deadweight tonnes, specializing in the transportation of dry bulk cargoes [3] - The merger will result in CMB.TECH Bermuda Ltd. being the surviving entity, with CMB.TECH as the issuer of the merger consideration shares [1][4] - Key dates for the delivery of CMB.TECH shares to former Golden Ocean shareholders include 21 August 2025 for OSE and 20 August 2025 for NYSE [4]

Core Viewpoint - SITC International reported strong 1H25 results, with revenue and net profit significantly exceeding expectations, driven by high freight rates and robust container shipping volume growth [1][2]. Financial Performance - Revenue for 1H25 increased by 28.0% YoY to US$1,664 million, while net profit attributable to shareholders rose by 79.7% YoY to US$630 million, resulting in an EPS of US$0.24 [1]. - The gross margin and net margin improved notably YoY, with gross margin rising by 9.3 percentage points and net margin increasing by 10.9 percentage points in 1H25 [1]. Dividend Policy - The company announced an interim dividend payout ratio of approximately 70%, which aligns with its 2024 interim payout ratio, offering attractive dividend yields of 9.5% for 2025 and 7.9% for 2026 [2]. Market Trends - There is a tight supply in the market for small vessels below 3,000 TEU, with only 5.4% of current orders for such vessels, while 11.2% of the fleet consists of vessels older than 25 years [3]. - Demand for small vessels in the container shipping industry has strengthened, leading to high time charter rates and longer charter periods, diverging from spot freight rate trends [4]. Intra-Asia Trade Growth - China's imports and exports to ASEAN countries and Japan grew by 9.4% and 4.5% YoY in the first seven months of 2025, indicating strong intra-Asia freight volume growth [5]. - As a leading player in intra-Asia routes, the company is expected to benefit from this growth, with Clarksons estimating a 3.6% and 3.0% YoY increase in intra-Asia container freight volume for 2025 and 2026, respectively [5]. Financial Forecasts - Due to better-than-expected freight rates, the company's net profit forecasts for 2025 and 2026 have been raised by 38.9% each to US$1.26 billion and US$1.06 billion, respectively [6]. - The stock is currently trading at 7.4x 2025 estimated P/E and 8.8x 2026 estimated P/E, with a target price increase of 15.2% to HK$28, implying 7.7x 2025 estimated P/E and 9.2x 2026 estimated P/E [6].

Group 1 - The focus has shifted towards offshore drilling, supply industry, and shipping, including tankers, containers, and dry bulk [1] - The fuel cell industry is being monitored as it is still in its early stages of development [1] Group 2 - The individual has extensive experience in auditing and trading, having navigated significant market events such as the dotcom bubble and the subprime crisis [2] - The research quality is emphasized despite language barriers, indicating a commitment to delivering valuable insights to the investment community [2]

Group 1: Company Overview - UPS and Whirlpool are currently experiencing significant declines in their stock prices, with both down over 60% from their all-time highs [2] - Both companies have a history of paying and increasing dividends, with their yields now exceeding 7% due to share price slumps [4] Group 2: Dividend Analysis - UPS is committed to maintaining a stable and growing dividend, with expected payouts of at least $5.5 billion this year, likely exceeding its free cash flow [5] - Whirlpool has cut its annual dividend from $7 to $3.50 per share, resulting in a more sustainable yield of 4% compared to UPS's 7.5% [6] Group 3: Impact of Tariffs - UPS faces risks from tariffs that may lead to decreased shipping volumes and negatively impact consumer spending, especially during the holiday season [8] - Conversely, Whirlpool may benefit from tariffs on foreign competitors, as it manufactures over 80% of its products in the U.S., giving it a pricing advantage [9] Group 4: Investment Outlook - Despite UPS's higher yield, its future prospects appear dim due to external economic factors, while Whirlpool offers a decent yield and compelling valuation even after its dividend cut [10]

Group 1 - The focus has shifted towards offshore drilling, supply industry, and shipping, including tankers, containers, and dry bulk [1] - The fuel cell industry is being monitored as it is still in its early stages of development [1] Group 2 - The individual has extensive experience in auditing and trading, having navigated significant market events such as the dotcom bubble and the subprime crisis [2] - The research provided aims to maintain high quality despite language barriers [2]

Group 1 - The logistics sector has seen significant engagement from investors, with a focus on stock investing and macroeconomic analysis over the past decade [1] - The ASEAN and NYSE/NASDAQ markets are highlighted as key areas of investment, particularly in banks, telecommunications, logistics, and hotels [1] - The popularity of insurance companies in the Philippines has influenced investment strategies, leading to diversification beyond traditional savings in banks and properties [1] Group 2 - Initial investments were made in blue-chip companies, but the portfolio has since expanded across various industries and market capitalizations [1] - The US market was entered in 2020, following a period of learning and engagement through a relative's trading account [1] - The analysis and comparisons between the US market and the Philippine market have been facilitated through platforms like Seeking Alpha [1]

Core Viewpoint - ZIM Integrated Shipping Services is exploring a potential privatization deal, which could significantly increase its stock value from the current trading price [2][4]. Group 1: Company Developments - ZIM's CEO Eli Glickman, along with five other executives and businessman Ramy Unger, are working on a deal to take the company private, valuing it at approximately $2.4 billion or $20 per share, a notable increase from the recent closing price of $15.50 [2]. - The stock initially surged nearly 15% following the news of the potential privatization but has since retreated, currently showing a 5.5% increase from the previous close [1][4]. Group 2: Market Context - The S&P 500 and Nasdaq-100 have shown gains of 1% and 0.5% respectively during the same period, indicating a relatively positive market environment despite ZIM's stock fluctuations [1]. - The enterprise value of ZIM is reported to be more than double its current market capitalization, with a low price-to-earnings ratio (P/E) of 0.87, suggesting it may be an attractive investment opportunity [6]. Group 3: Industry Considerations - Concurrently, the United Nations is discussing a Net Zero Framework aimed at reducing global shipping emissions to net zero by 2050, which has faced opposition from the United States [5].

Core Viewpoint - Ardmore Shipping (ASC) shows potential for upside with a mean price target of $13.17, indicating a 25.6% increase from the current price of $10.49 [1] Price Targets and Analyst Estimates - The mean estimate consists of three short-term price targets with a standard deviation of $0.76, suggesting variability in analyst predictions [2] - The lowest estimate of $12.50 indicates a 19.2% increase, while the highest estimate of $14.00 suggests a 33.5% increase [2] - Analysts' price targets can often mislead investors, as empirical research shows they rarely indicate actual stock price movements [7][10] Earnings Estimates and Analyst Agreement - Strong agreement among analysts regarding ASC's earnings prospects supports the expectation of stock upside [4][11] - The Zacks Consensus Estimate for the current year has increased by 2.6% over the past month, with one estimate rising and no negative revisions [12] - ASC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] Conclusion on Price Movement - While consensus price targets may not be reliable for predicting the extent of gains, they can provide a directional guide for potential price movements [14]

Avance Gas Holding Ltd (the “Company”) reminds shareholders that on 16 May 2025 the shareholders of the Avance Gas Holding Ltd (the “Company”) passed resolutions (the “Resolutions”) that the Company be wound up voluntarily and that Michael Penrose of EY Bermuda Ltd., 3 Bermudiana Road, Hamilton, HM08, Bermuda and Igal Wizman of EY Bahamas Ltd., Caves Corporate Centre, West Bay Street & Blake Road, Nassau N-3231, The Bahamas, be appointed as Joint Liquidators (“JLs”) of the Company. The appointment of the JL ...

Group 1 - International Seaways reported mixed results for Q2 2025, showing better performance quarter on quarter but slightly worse figures compared to Q2 2024 [1]