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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Global Oceanic | LSE:GOC | London | Ordinary Share | GB00B079WL45 | ORD 0.0003P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 168.00 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
16/5/2008 13:44 | jonwig, The BDI chart seems to be a day behind - would you consider putting another source in the header? (unfortunately I can't find another graph of the BDI, but this data is up to date ) dom | domwilliams | |
15/5/2008 16:50 | whoops so it is: I think investors might say oh but these boys are chartered... not really... as 2009 isn't very chartered up yet so this uplift in rates will benefit...I am also guessing that it increases forward rates.... slap | slapdash | |
15/5/2008 16:32 | according to bloomberg its hit a new high. | lonrho | |
15/5/2008 16:11 | BDI above 11,000 - is that a new high?? Pretty close even if it isn't... slap | slapdash | |
15/5/2008 15:05 | Another shipping related share Ocean OCN who own ports in Brazil announced a jump of 47% in port related revenue today causing the share price to rise 4% | davebowler | |
15/5/2008 09:10 | I really don't think TA has any relevance to a small cap stock like GOC, the share price is generally a direct reflection of the BDI Index - which is daft because GOC's management style of securing long term charters is exactly designed to smooth out performance relative to the BDI. However IMO this reactionary performance is likely to be the way for at least another 6 months until the next dividend is paid and people look closer at the company and its cashflows. What would be a great bonus for GOC is if the BDI remains high this year and they can secure the next 2 contract renewals at high rates - I had anticipated a drop in the BDI for those renewals, and even at just a modest increase they are generating shedloads of cash and on a very low PE. | luckyjonah | |
14/5/2008 19:24 | Slap Be great to find a company with a couple of ships coming up for charter in the next month then..........LOL!! | rettah | |
14/5/2008 17:45 | BDI now at 10,649 and within a whisker of a new all-time high.... Slap | slapdash | |
14/5/2008 06:55 | Just having a look at GPRT shipping rates: We don't seem to be doing too badly with our rates compared to the above. Be interesting to see how the renewal rates pan out. | rettah | |
13/5/2008 23:12 | Thanks, guys. Of course, it is very prudent to have a mix of short & long term charters, and some on spot rate to provide exposure to each market rate (I liken it to a mining company hedging some of its production to safeguard the future - and it's banking relationship). On first glance, the Patoro's fixed charter seemed well under the spot rate but management couldn't have expected such a stellar rise for Capesize vessels, so a sensible, if quite cautious, position taken to lock in a contract in this way. Also, I hadn't considered the excessive voids between contracts, and then their relatively short nature, so thanks for pointing this out. Right, off to bed now then up at 6 and looking forward, I hope, to the GLBS update. | domwilliams | |
13/5/2008 21:26 | SHIPPING IS A MAJOR BENEFICIARY OF THE CREDIT CRUNCH: FROM A BLOOMBERG ARTICLE: The biggest shipbuilding boom in history collided with the largest credit-market losses ever, undermining forecasts for a plunge in freight rates. As much as $14 billion in ship orders is threatened by cancellations and delays, equal to 94 percent of annual revenue at Hyundai Heavy Industries Co., the largest shipbuilder. Tightening credit markets mean lenders demand a bigger deposit and shorter terms for financing, said Tobias Backer, the head of shipping for the Americas at Fortis, a merchant banker. The loss or delay in deliveries of about 250 cargo ships, or 10 percent of orders, will tighten the supply of vessels and support rates when demand from China and India for everything from soybeans to coal has never been greater. Based on the current orders for 2,561 new cargo ships, shipping rates are expected to decline 56 percent during the next three years, futures markets show. ``Cancellations would certainly be bullish for rates because the ships won't be there,'' Natasha Boyden, an analyst at Cantor Fitzgerald in New York, said. At stake is not only shipping rates but also the profits of shipping companies in an industry that has outperformed the market amid a U.S. economic slowdown due to China's appetite for raw materials. The Bloomberg Dry Ships Index, which includes 12 shipping companies, has gained 69 percent in the past year, compared with a loss of 7.8 percent for the Standard & Poor's 500 Index. STX Pan Ocean Co., a Korean shipping company, gained 62 percent in the last year; DryShips Inc., an Athens-based shipper, has more than doubled. The stocks have been propelled by shipping rates, which reached a five-month high on May 9 and are 7.3 percent below the record reached on Nov. 13. Rates Rise Freight rates have risen as fewer vessels have been delivered. The Baltic Dry Index, a measure of rates, has risen 58 percent in the last year as an index tracking the number of cargo ships under construction has fallen 21 percent in that time, using Lloyd's Registry Fairplay data. Tighter credit, brought on by the $323 billion in writedowns the world's banks have disclosed since June because of the collapsing mortgage markets, is taking a toll on the record level of ship orders that was expected to increase capacity and rein in rates. The price of steel, which has risen 47 percent since January, and the instability of less established shipyards are adding to the uncertainty. Sophocles Zoullas, chief executive of New York-based Eagle Bulk Shipping Inc., toured shipyards in China and South Korea in late April, and said he has heard of 100 cancellations this year, enough ships to carry as much as 18 million tons of coal at a time. | slapdash | |
13/5/2008 20:18 | Further to the above comments we should get an update on GO Faith and GO Pride in the next few weeks. I imagine GO Faith will have its charter extended for the additional 2 months from May that was an option (Given current rates), GO Pride is up for a new charter in June. | rettah | |
13/5/2008 18:54 | have a look at this: CEO of Bramear (BMS) saying that rates will stay strong and dry imports into India will go up about 4X in the the near future... on the whole loads more ships being built argument he said he had his doubts on Chinese new shipyards Perhaps someone should start a shipping thread???????? Witht all the stocks and charts on it... Baltic Dry up again today apparently.... 10,354 Slap | slapdash | |
13/5/2008 18:48 | Dom If you decide to go for spot rates, you dont get a whole year of guaranteed fees. You would get, I imagine, 4 or 5 charters of 10-20 days length in the year. The rest of the time would be spent paying the crew to do nothing while management would be spending all their time attempting to hawk their ship for the next short term rental, or even worse to just steam half way across the planet to pick up another one way 10 day charter. The profit on a years worth of Patoro, even at 27k per day is outrageous. We've got some renewals coming up in the next few months too. GOC is raking it in, and the only thing stopping a share price tripling over the next few years are: A) Global trade collapse B) Global shipping chronic over supply If A happens, theres more serious things to worry about than the share price of GOC. If B happens, 3-4 year contracts already in place will see us through the worst while the market bottoms out and other suppliers making hay at the moment go bust... Relatively speaking, a safeish bet. David | wilddonkey | |
13/5/2008 18:44 | I guess it's all about risk/reward. Take the low risk option and get low reward. They have 3 ships coming up for renewed charters this years in May, June and Nov so will probaly get higher rates for these. A good mix of long and short charters seems sensible. | rettah | |
13/5/2008 14:58 | WOW - so by locking in their only Capesize on a charter, they lose $150m in revenue over 09/10 alone against spot rates. | domwilliams | |
13/5/2008 14:56 | Yes, then reducing in 09 and 10 to $27,000 and $22,000. | rettah | |
13/5/2008 14:49 | Whilst looking forward to tomorrow's Q1 update from GLBS, have been looking around at other shipping stocks. Can anyone confirm, is the GO Patoro really on a 3 year charter at $32,000 per day (with Capesize's going for $172,000 p/d on the spot market), or have I missed some news ? | domwilliams | |
12/5/2008 20:02 | this is still one of hte lowest rated shipping stocks with a 2009 P/E under 4X... so I think the current price isn't sustainable (i.e. it will go higher) if frieght rates remain robust and you are getting a massive dividend while you wait.. also something in FT today about high frieght rates... slap | slapdash | |
12/5/2008 18:59 | keeps moving up nicely when you don't expect it - nice stock imo CR | cockneyrebel | |
12/5/2008 18:49 | Nice chart, should have taken my friend's tip a few months ago!! I think the question now is will it double top or carry on? keeping this on thew watchlist | determined | |
12/5/2008 18:41 | Found this on another site (Last para is of interest): Coal From Richards Bay at 8-Week High on Expected Asian Buying By Alistair Holloway May 12 (Bloomberg) -- Coal for shipment from South Africa's Richards Bay, site of the world's largest export terminal for the fuel, rose to an eight-week high on expectations that demand from consumers in the Far East will accelerate. Coal supplies to Asia are curbed because of Chinese export cuts and bottlenecks in Australia. Storms in both countries pushed prices to a record earlier this year. PT Timah and PTC India Ltd. said today they're seeking stakes in Indonesian coal mines. Owning mines can secure supplies of the fuel and allow investors to benefit from rising prices. ``There are expectations coal from Richards Bay will go to the Far East and not just India,'' John Howland, an analyst at Petersfield, England-based McCloskey Group Ltd., said by phone. ``It's building up over a period of time.'' India has led rising Asian demand for coal from Richards Bay, Europe's biggest source of the fuel burned for power. Port officials expected a 30-fold rise in sales to the country last year. Indian domestic supplies lag behind demand which has risen in an economy that has grown more than 8 percent annually since 2003. Export prices at Richards Bay advanced $1.45, or 1.3 percent, to an average of $113.05 a metric ton in the week ended May 9, according to McCloskey. The data also showed that prices at Newcastle, Australia, an Asian benchmark, rose 2.7 percent to $132.50 a ton. The Baltic Dry Index, a measure of shipping commodities, had a fifth consecutive weekly gain on May 9, driven by demand to haul loads of coal, iron ore and fertilizer from Atlantic ports. The price of coal to northwest Europe rose $4.25, or 2.9 percent, to a record $150.80 a ton, according to McCloskey. Freight can account for as much as half the price of delivered coal. | rettah | |
12/5/2008 13:42 | yes good stuff Slap. I wonder whetehr these shiping companies may get a rerating, say to PER 8 would be fine! | robsy2 | |
12/5/2008 07:22 | turned out nice again... not too long before we hit a new all time high.. i.e. 162p+.... bring it on.. slap | slapdash |
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