Wharton School of the University of Pennsylvania

Assistant Professor at The Wharton School, Wharton School of the University of Pennsylvania

Dr Arthur van Benthem

Assistant Professor at The Wharton School

Thematic (Sector/Industry)

The environmental agenda of President-elect Trump and his transition team is deeply troubling. Plans include dismantling or defunding the Environmental Protection Agency, scrapping the Paris Climate Accord, repealing the Clean Power Plan, relaxing auto emissions standards, increasing coal production, weakening the Endangered Species Act, and on and on. While Trump claims to have an “open mind” on climate, the transition at the EPA is led by Myron Ebell, a science denier who believes that free…

The environmental agenda of President-elect Trump and his transition team is deeply troubling. Plans include dismantling or defunding the Environmental Protection Agency, scrapping the Paris Climate Accord, repealing the Clean Power Plan, relaxing auto emissions standards, increasing coal production, weakening the Endangered Species Act, and on and on. While Trump claims to have an “open mind” on climate, the transition at the EPA is led by Myron Ebell, a science denier who believes that free…

Time for Corporate America to Stand up for the Environment

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Equity Bottom-Up

Teekay Lng Partners Lp / Equity Bottom-Up

Teekay LNG Partners (TGP US) - Earnings in Line with Expectations, Leverage to remain high<ul><li>
New vessel deliveries result in higher earnings: TGP’s income from vessel operations increased to USD 50.6m in 3Q16 from USD 42.2m in 3Q15 – in line with our estimate of USD 50.8m. We attribute the increase in earnings to the delivery of Creole Spirit and Oak Spirt and the start of their charter services from February and August respectively. The equity income of USD 13.5m was lower than our expectation of…</li></ul>

Teekay LNG Partners (TGP US) - Earnings in Line with Expectations, Leverage to remain high
New vessel deliveries result in higher earnings: TGP’s income from vessel operations increased to USD 50.6m in 3Q16 from USD 42.2m in 3Q15 – in line with our estimate of USD 50.8m. We attribute the increase in earnings to the delivery of Creole Spirit and Oak Spirt and the start of their charter services from February and August respectively. The equity income of USD 13.5m was lower than our expectation of…

Teekay LNG Partners (TGP US) - Earnings in Line with Expectations, Leverage to Remain High

Dividend unlikely to increase until FY19; accumulate on lower levels<ul><li>
Absence of catalysts; maintain Neutral view: Teekay LNG Partners’ (TGP’s) stock price has increased 20% over the last one month influenced by improvement in the spot market. We believe investors need not chase the stock any further, but can look to buy on correction, considering that the possibility of restoring dividends (after the massive cut in December 2015) over the next 12-18 months looks bleak as management is focused on…</li></ul>

Dividend unlikely to increase until FY19; accumulate on lower levels
Absence of catalysts; maintain Neutral view: Teekay LNG Partners’ (TGP’s) stock price has increased 20% over the last one month influenced by improvement in the spot market. We believe investors need not chase the stock any further, but can look to buy on correction, considering that the possibility of restoring dividends (after the massive cut in December 2015) over the next 12-18 months looks bleak as management is focused on…

Teekay LNG Partners (TGP US) - Dividend Unlikely to Increase Until FY19; Accumulate on Lower Levels

<h2>Teekay LNG Partners (TGP US/) - Should Investors Throw Caution to the Winds?</h2><figure class="editor-figure"><img src="https://static-prod.smartkarma.com/images/media/000/006/488/original/tgp1.JPG?1458610352" class="editor-image img-responsive" data-smartkarma-image-id="6488"></figure>Rebound in oil prices rubs off on gas shipping stocks: The recent run-up in the crude oil price has also led to a rally in the gas shipping stocks. To draw an analogy, the brent crude oil price increased 17% since the beginning of March and our gas shipping index climbed 10.4% during the same period. Teekay LNG Partners (TGP), which was impacted after the drastic cut in its dividend resulting in the stock plummeting from…

Teekay LNG Partners (TGP US/) - Should Investors Throw Caution to the Winds?Rebound in oil prices rubs off on gas shipping stocks: The recent run-up in the crude oil price has also led to a rally in the gas shipping stocks. To draw an analogy, the brent crude oil price increased 17% since the beginning of March and our gas shipping index climbed 10.4% during the same period. Teekay LNG Partners (TGP), which was impacted after the drastic cut in its dividend resulting in the stock plummeting from…

Teekay LNG Partners (TGP US/) - Should Investors Throw Caution to the Winds?

Transport Sector, China and Asia-focused Research

Charles De Trenck

Teekay Tankers Ltd Class A / Equity Bottom-Up

Teekay companies came out with a set of results. Frankly, it is not about the results but about the corporate actions and the forward indicators of corporate changes that can be done. Detailed TK updates are available from the company’s investor portal in the usual high detail. See http://teekay.com/ … I only have a few key points to make, which I think cut to the chase. Most broker coverage has focused on TK LNG or <a href="https://www.smartkarma.com/entities/21078" target="_blank" data-smartkarma-citation="entities:21078">Teekay Lng Partners Lp</a> , excepting the large recent Morgan Stanley report…

Teekay companies came out with a set of results. Frankly, it is not about the results but about the corporate actions and the forward indicators of corporate changes that can be done. Detailed TK updates are available from the company’s investor portal in the usual high detail. See http://teekay.com/ … I only have a few key points to make, which I think cut to the chase. Most broker coverage has focused on TK LNG or Teekay Lng Partners Lp , excepting the large recent Morgan Stanley report…

United States

Teekay LNG Partners LP provides marine transportation services for liquefied natural gas, liquefied petroleum gas and crude oil. It operates through the following segments: Liquefied Gas and Conventional Tanker. The Liquefied Gas segment consists of liquefied natural gas and liquefied petroleum gas carriers subject to long-term, fixed-rate charters to international energy companies and Teekay Corp. The Conventional Tanker segment includes suezmax-class crude oil tankers and handymax product tanker operating on long-term, fixed-rate time-charter contracts to international energy and shipping companies. It owns and operates medium-sized crude oil tankers to expand its operations in the liquefied natural gas shipping sector. The company was founded on November 2, 2004 and is headquartered in Hamilton, Bermuda.

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Teekay Lng Partners Lp (TGP US)

Time for Corporate America to Stand up for the Environment

The environmental agenda of President-elect Trump and his transition team is deeply troubling. Plans include dismantling or defunding the...

Dr Arthur van Benthem

Teekay LNG Partners (TGP US) - Earnings in Line with Expectations, Leverage to Remain High

Teekay LNG Partners (TGP US) - Earnings in Line with Expectations, Leverage to remain high New vessel deliveries result in higher earnings: TGP’s...

Drewry Maritime Financial Research

Teekay LNG Partners (TGP US) - Dividend Unlikely to Increase Until FY19; Accumulate on Lower Levels

Dividend unlikely to increase until FY19; accumulate on lower levelsAbsence of catalysts; maintain Neutral view: Teekay LNG Partners’ (TGP’s) stock...

Drewry Maritime Financial Research

Teekay LNG Partners (TGP US/) - Should Investors Throw Caution to the Winds?

Teekay LNG Partners (TGP US/) - Should Investors Throw Caution to the Winds?Rebound in oil prices rubs off on gas shipping stocks: The recent...

Drewry Maritime Financial Research

Teekay's Right Hand Left Hand Shuffle

Teekay companies came out with a set of results. Frankly, it is not about the results but about the corporate actions and the forward indicators of...

Charles De Trenck

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