Deutsche Bank Maintains Hold Rating on Excel Maritime Carriers

According to Deutsche Bank, Excel Maritime Carriers EXM Hold rating is maintained. Deutsche Bank said that after the close, EXM reported an adjusted Q3 earnings loss of $0.25/share, below the $0.23/share loss and Consensus at a loss of $0.18/share. “In Q3, EXM saw sequential declines of 5.1% in vessel TCE to $22,848/day and of 4.7% in daily vessel OPEX to $4,838/day.” Excel Maritime Carriers closed yesterday at $3.11.