We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Methanex's (MEOH) Unit Adds Eight Methanol Dual-Fuel Vessels
Read MoreHide Full Article
Methanex Corporation’s (MEOH - Free Report) fully-owned subsidiary, Waterfront Shipping Company Ltd., announced the addition of eight new methanol dual-fuel vessels to its fleet. The company frequently replaces older vessels with newer more efficient ones as part of its fleet renewal program, highlighting its commitment to responsible, safe and reliable transport of cargo.
Further, these vessels are in addition to Waterfront Shipping’s existing fleet of 11 methanol-fueled ships that are recognized by the marine industry as clean-burning methanol or lower emission fuel. These vessels have been established as viable marine fuel solution, having surpassed more than 90,000 combined operating hours. Per the company, they are also in compliance with the most stringent emissions regulations. Notably, methanol in the form of marine fuel lowers CO2 emissions by up to 15% compared with traditional marine fuels.
Moreover, the new eight 49,999 deadweight ton vessels will be built in Hyundai Mipo Dockyard, South Korea. They will be delivered to Waterfront Shipping between 2021 and 2023. The vessels are designed with the MAN second-generation B&W ME-LGIM two-stroke dual-fuel engines. The dual-fuel engine provides flexibility by enabling them to operate on methanol or traditional marine fuels. Additionally, methanol can be produced from renewable sources. It is the most widely-traded chemicals in the world and it is readily available at around 90% of the top 100 ports worldwide.
Methanex’s shares have gained 14.4% in the past year compared with the industry’s 10.5% rise.
Zacks Rank & Key Picks
Methanex currently carries a Zacks Rank #3 (Hold).
Pretium Resources has an expected earnings growth rate of 25.5% for 2020. Its shares have returned 9.5% in the past year.
BHP Group has an expected earnings growth rate of 31.3% for fiscal 2021. The company’s shares have gained 7.5% in the past year.
Silvercorp Metals has an expected earnings growth rate of 40% for fiscal 2021. The company’s shares have increased 20.2% in the past year.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Image: Bigstock
Methanex's (MEOH) Unit Adds Eight Methanol Dual-Fuel Vessels
Methanex Corporation’s (MEOH - Free Report) fully-owned subsidiary, Waterfront Shipping Company Ltd., announced the addition of eight new methanol dual-fuel vessels to its fleet. The company frequently replaces older vessels with newer more efficient ones as part of its fleet renewal program, highlighting its commitment to responsible, safe and reliable transport of cargo.
Further, these vessels are in addition to Waterfront Shipping’s existing fleet of 11 methanol-fueled ships that are recognized by the marine industry as clean-burning methanol or lower emission fuel. These vessels have been established as viable marine fuel solution, having surpassed more than 90,000 combined operating hours. Per the company, they are also in compliance with the most stringent emissions regulations. Notably, methanol in the form of marine fuel lowers CO2 emissions by up to 15% compared with traditional marine fuels.
Moreover, the new eight 49,999 deadweight ton vessels will be built in Hyundai Mipo Dockyard, South Korea. They will be delivered to Waterfront Shipping between 2021 and 2023. The vessels are designed with the MAN second-generation B&W ME-LGIM two-stroke dual-fuel engines. The dual-fuel engine provides flexibility by enabling them to operate on methanol or traditional marine fuels. Additionally, methanol can be produced from renewable sources. It is the most widely-traded chemicals in the world and it is readily available at around 90% of the top 100 ports worldwide.
Methanex’s shares have gained 14.4% in the past year compared with the industry’s 10.5% rise.
Zacks Rank & Key Picks
Methanex currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Pretium Resources, Inc. , BHP Group (BHP - Free Report) and Silvercorp Metals Inc. (SVM - Free Report) , all carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Pretium Resources has an expected earnings growth rate of 25.5% for 2020. Its shares have returned 9.5% in the past year.
BHP Group has an expected earnings growth rate of 31.3% for fiscal 2021. The company’s shares have gained 7.5% in the past year.
Silvercorp Metals has an expected earnings growth rate of 40% for fiscal 2021. The company’s shares have increased 20.2% in the past year.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Download Marijuana Moneymakers FREE >>