STOCKS TELEGRAPH

Tag: freight

  • GasLog Partners LP (GLOP) Stock Exhibits Volatility Following Disclosure of Q2 2021 Financial Reports

    GasLog Partners LP (GLOP) stock prices were up 4.78% as of the market close on July 26th, 2021, bringing the price per share up to USD$5.26 at the end of the trading day. Subsequent premarket fluctuations saw the stock fall by 11.60%, bringing it down to USD$4.65.

    GLOP Stock’s Charter Agreements

    GLOP stock recently announced three new time charter agreements with a string of companies: GasLog Sydney was chartered for one year in collaboration with a subsidiary of TotalEnergies SE; Solaris was chartered for eight months in a partnership with Royal Dutch Shell; and a deal with a wholly owned subsidiary of Cheniere Energy, which will see Methane Heather Sally being chartered for one to three years. The company also signed a new one-year time charter agreement with TotalEnergies for GasLog Seattle.

    Additional Recent Developments

    The second quarter of fiscal 2021 saw the company repay USD$18.8 million in debt, contributing to the USD$54.8 million of debt repaid over the first six months of 2021. GLOP stock also published the Partnership’s Sustainability Report for the previous year on July 20th, 2021. Effective August 1st, 2021, GLOP will see Mr. Eniozi, currently, Chief Operating Officer of GasLog, take over as director of the Partnership and as CEO of the Partnership.

    GLOP Stock Hits Quarter Milestone

    GLOP stock finalized previously scheduled dry-dockings for three vessels from its fleet: the Methae Rita Andrea, the GasLog Greece, and the GasLog Glasgow. This has resulted in a total of 82 scheduled off-hire days for the 2021 quarter, up from zero off-hire days reported for the second quarter of 2020.

    Financial Reports

    Revenue for the second quarter of 2021 was reported at USD$70.4 million, while profits for the quarter were reported at USD$14.7 million. Adjusted profit was USD$12.7 million for Q2 2021, with adjusted EBITDA reported at USD$45 million. Earnings per unit for the quarter came in at USD$0.14, with an adjusted earnings per unit of USD$0.10. the second quarter of fiscal 2021 also saw GLOP stock declare a cash distribution of USD$0.01 per common unit on record.

    Future Outlook for GLOP Stock

    Armed with a string of new strategic collaborations, GLOP stock is keen to continue its trajectory of success. The company is keen to continue expanding and consolidating its market footprint, with investors hopeful for organic growth and long term increases in shareholder value.

  • CSX Corp. (CSX) Stock Plummets Ahead of Environmentally Friendly Agreement with Wabtec

    CSX Corp. (CSX) Stock Plummets Ahead of Environmentally Friendly Agreement with Wabtec

    CSX Corp. (CSX) stock prices were down by 0.62% as of the market closing on June 28th, 2021, bringing the price per share down to USD$95.32 at the end of the trading day. Subsequent pre-market fluctuations saw the stock fall by a massive 65.77%, bringing it down to USD$32.63.

    Partnership with Wabtec

    June 28th 2021 saw the company announce its partnership with Westinghouse Air Brake Technologies Corp, which would see the two collaborate to reduce their carbon footprint. This is to be achieved primarily be reducing greenhouse gas emissions resulting from company operations. The joint effort aims to facilitate a 37% reduction in greenhouse gas emissions by 2030.

    Details of Collaboration

    The companies will work together with a focus on the modernization of locomotives across CSX’s fleet. Advanced digital technologies will also be implemented to bolster fuel efficiency and reduce emissions for rail operations. The alliance will see CSX become the first railroad operator to make use of Wabtec’s Trip Optimizer Zero-to-Zero system, which will allow CSX to start trains from rest and stopping them automatically using various controls. The technology has helped railroads reduce their fuel consumption by more than 400 million gallons, while reducing CO2 emissions be more than 500,000 tons every year.

    Additional Considerations

    Furthermore, CSX will revitalize its fleet using Wabtec’s innovative Tier 4 switcher modernization program. The program will see 4 to 5 decade old locomotives being upgraded, with tier 0 non-emissions switchers being replaced by the latest Tier 4 platform from Wabtec. This technology facilitates a 90% reduction in emissions and provides a 20% improvement in fuel efficiency.

    Greenhouse Gas Emissions Reduced

    Wabtec’s FDL Advantage engine upgrade program will also be utilized in the modernizing of CSX’s fleet of locomotives. This program offers up to an additional 5% reduction in fuel consumption by offering improved injection control with a high-pressure common rail fuel system. The project aims to reduce CSX’s carbon footprint by up to 250 tons of CO2 per locomotive every year.

    About CSX

    The company provides rail, intermodal and rail-to truck transload services and solutions to customers spread out across a myriad of markets, including, but not limited to, energy, industrial, construction, agricultural, and consumer products. The company has linked more than 230 short-line railroads and more than 70 ocean, river, and lake ports with various major and minor population centers.

    Future Outlook for CSX

    Armed with its recent collaboration with Wabtec, which expands on the resources available to CSX, the company is poised to capitalize on the opportunities afforded to it through this venture. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.