Acquisitions, Technical Updates, Dividends, Secured Notes, and Litigation Updates - Analyst Notes on GasLog, Nordic, Matson, NewLead and DryShips
Editor Note: For more information about this release, please scroll to bottom.
NEW YORK, July 14, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding GasLog Ltd. (NYSE: GLOG), Nordic American Tankers Limited (NYSE: NAT), Matson, Inc. (NYSE: MATX), NewLead Holdings Ltd. (NASDAQ: NEWL) and DryShips, Inc. (NASDAQ: DRYS). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/4729-100free.
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GasLog Ltd. Analyst Notes
On June 25, 2014, GasLog Ltd. (GasLog) announced the successful completion of its previously announced acquisition of three LNG carriers from an affiliate of BG Group plc (BG), marking the second acquisition of ships from BG by GasLog in 2014. Paul Wogan, CEO of GasLog, commented, "We are delighted to complete this second transaction with BG which adds further accretive growth to GasLog's business. We know these ships well, having overseen their construction at the Samsung ship yard in Korea and managed them on behalf of BG since their delivery. The acquisition increases the size of our wholly owned fleet to 22 vessels with eleven of these ships currently on the water." The Company informed that the time charters for the three vessels are staggered with one for 5.5 years, one for six years, and one for 6.5 years, so that the vessels will not redeliver at the same time. The full analyst notes on GasLog are available to download free of charge at:
http://www.analystsreview.com/Jul-14-2014/GLOG/report.pdf
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Nordic American Tankers Limited Analyst Notes
On July 9, 2014, Nordic American Tanker Ltd.'s (Nordic) stock decreased to end the day at $8.60 compared to the previous day's closing price at $9.08, which represents a 5.3% decline. The Company's stock increased 0.35% over the past one trading month compared to the Dow Jones Industrial Average which rose 0.25% and to Standard & Poor's 500 which gained 1.10% during the same trading period. The full analyst notes on Nordic are available to download free of charge at:
http://www.analystsreview.com/Jul-14-2014/NAT/report.pdf
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Matson, Inc. Analyst Notes
On June 26, 2014, Matson, Inc. (Matson) announced that its Board of Directors has authorized and declared a Q3 2014 dividend in the amount of $0.17 per common share, representing a 6.25% increase over the previous quarter's dividend. The dividend is payable on September 4, 2014 to all shareholders of record as of the close of business on August 7, 2014. "This dividend increase underscores the strong cash flow generation of Matson's core businesses and the confidence we hold in our long-term prospects," said Matt Cox, Matson's President and CEO. "Our financial strength provides ample capacity to fund our fleet renewal program and consider growth investments, while continuing to return capital to shareholders." The full analyst notes on Matson are available to download free of charge at:
http://www.analystsreview.com/Jul-14-2014/MATX/report.pdf
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NewLead Holdings Ltd. Analyst Notes
On July 7, 2014, NewLead Holdings Ltd. (NewLead) announced that on June 23, 2014, it filed claims against Ironridge for breach of contract, fraudulent inducement of contract and fraud, securities market manipulation, and misrepresentation in violation of United States federal securities laws, unjust enrichment, and violation of 15 U.S.C. 78p(b). NewLead informed that is seeking disgorgement of short-swing profits, damages in excess of $25 million, punitive damages in excess of $100 million, and reimbursement of legal costs and the costs of the arbitration. NewLead stated that it has also requested that the arbitration tribunal declare that the agreement between NewLead and Ironridge is terminated and/or void ab initio, and that Ironridge has no entitlement to the issuance of additional common shares of NewLead. The full analyst notes on NewLead are available to download free of charge at:
http://www.analystsreview.com/Jul-14-2014/NEWL/report.pdf
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DryShips, Inc. Analyst Notes
On July 8, 2014, DryShips Inc. (DryShips) announced that its majority owned subsidiary, Ocean Rig UDW Inc. (Ocean Rig), through its wholly owned subsidiaries, Drillships Ocean Ventures Inc. and Drillships Ventures Projects Inc., intends to offer $500.0 million in aggregate principal amount of senior secured notes due 2022 in a private offering to qualified institutional buyers within the United States pursuant to Rule 144A under the Securities Act of 1933, as amended, and to certain other persons outside of the United States in reliance on Regulation S under the Securities Act. Ocean Rig intends to use the net proceeds from this offering, along with the net proceeds of an expected concurrent new $800.0 million senior secured term loan and cash on hand, to repay all of the outstanding amounts under its c.$1.4 billion senior secured term loan facility. The full analyst notes on DryShips are available to download free of charge at:
http://www.analystsreview.com/Jul-14-2014/DRYS/report.pdf
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