Goldenport Share Discussion Threads

[jonntara] 14/11/2013 15:39

Come to Daddy!

Little bit lower and I will be getting some more of these.

Nice post trik trak.

[triktrak] 30/10/2013 16:23

Encouraging to see some positive noises coming from other shipping companies during the past month:

Hellenic Carriers:
We believe that the time of a turnaround is now approaching. We have already witnessed the first signs of recovery and, although these signs have been more evident in the cape size sector, we know that the sub capesize segments will also follow the trend.

The upward trend may not be straight line and we may continue to experience seasonal volatility. Furthermore, any rapid improvement in rates may be followed by a downward correction. However, overall we consider that the lows experienced in 2012 and the first half of 2013 are now behind us.

Braemar Shipping:
After several tough years, there is now a degree of optimism in some shipping markets that a cyclical recovery is underway.

[wotreally] 11/10/2013 16:04

Greece thinks it is coming out of recession in this coming 12 months to a year.
Bought a few for the ISA, steady and away from here, to double over two years.

[greenelf] 23/9/2013 07:59

This could still rise a bit, I reckon (??)....the BDI now risen above 1900.

[jonntara] 22/9/2013 20:50

Was planning to buy quite a slug of these during the last month or so, bit it looks like I may have missed my chance. Anyway i did buy some but nowhere near enough in the low 30s. I think these may settle down a bit in the coming months so I can have another bite at the cherry. If not I will just have to go with the shares I already own....

[greenelf] 19/9/2013 09:46

Baltic dry index still rising strongly...another 4.71% gain yesterday (index now at 1822).

[c1d] 17/9/2013 16:27

Thanks luckyjonah that explains it.
Yes, hopefully the director buys will attract some attention - wish I'd taken my courage in both hands and bought even more when it was languishing in the low 30s but, as ever, hindsight is a wonderful thing!

[luckyjonah] 17/9/2013 16:02

c1d - listed in London but not a UK company so they are not bound by the rules on those matters, eg. AFAIA even notifying the 3%+ thershold would have been voluntary on their part. I remember similar discussions with XEL who are incorporated in Bermuda or the Caymans.

The large family holding is typical of Greek-owned shipping companies, nothing unusual there anyway. On the plus side, the Director buys should attract a bit of attention given how undervalued this is at present.

[c1d] 17/9/2013 15:15

I had always thought that once a shareholder had gone over 30% he/she couldn't buy any more without making an offer for all the outstanding shares. Clearly my thinking was wrong!!
Great news that those in the best position to know have bought a lot of extra shares.

[boonboon] 17/9/2013 14:45

How much are they allowed to own without having to make a full bid?

[paxman] 17/9/2013 14:40

greenelf - shush

[greenelf] 17/9/2013 14:39

There we go... :)

[luckyjonah] 12/9/2013 15:53

There does seem to be a continual seller at the moment - I bought more today easily. I also hold HCL which has doubled recently on only small volumes, looks to me like GPRT is currently far more undervalued than HCL although HCL is pure dry bulk (no containers).

It's just a waiting game.

[c1d] 12/9/2013 10:45

thanks greenelf,
Good news indeed. Hopefully it will be onward and upwards for freight rates, and if so, the share price will surely follow.

[greenelf] 12/9/2013 10:32

Wall Street Journal Updated September 11, 2013, 6:50 p.m. ET

Dry-Bulk Shipping Rates Rise on China Demand

"A sudden surge in China's demand for iron ore has helped push global shipping freight rates to their highest level in more than 18 months"

[paxman] 11/9/2013 15:57

Yes, that's right greenelf. This share will go up substantially over this coming month.

Interestingly, the quieter the board the more likely a share is to go up. So not too many posts please everyone.

[greenelf] 11/9/2013 10:53

Baltic dry index going up nicely with the recovery in the global economy (China!). A good time to buy I reckon, could be a fast upward re-rating imminent. Also could be the turning point for global shipping from the crash of 2008/2009.

[flamingo93] 01/9/2013 04:42

Agree with most of the sentiment here having invested @c40p after last years dividend cut etc.Two concerns are 1) A couple of years ago when I researched this much was made of the lack of new shipping finance impacting new tonnage available on the market and being a favourable driver for increased charter rates - latest report shows no sign of this happening which i would have hoped to see by now 2) As a lesser concern whilst management appear to have done a very good job on the replacement programme, if you compare on a ship by ship basis larger tonnage has been replaced with smaller vessels which alongside a slight reduction in fleet size impacts potential future earnings. Still happy to hold although I suspect a slightly longer wait for recovery than initially hoped for. All the best to fellow holders.

[c1d] 31/8/2013 11:07

JonNTara & hmt
I agree with your views on GPRT. I've built up my stake to a level I'm happy with and am now waiting for the cycle to turn and am willing to be patient.
Regards

[hmt] 30/8/2013 21:55

Guys this is a cyclical share , at present this doesn't look to appealing, but look beyond the short term and you will eventually reap he rewards, the key is the assets, along with their experience ; when the sector turns positive, this will motor, this is a tightly held share, no volitilty in buying/ selling, be patient, personally accumulating as funds prevail . Dye.,good luck

[jonntara] 30/8/2013 20:44

c1d. I am like you I am hopeless at the timing and so I generally have to wait for a while for things to turn my way.

However I am getting to the point where I will put some more money in soon. Things I like:

It's a cyclical share and even if we are not at the bottom we are surely in a very bad place and so the balance of probabilities is that it will turn around significantly at some point even if it has further down to go in the short to medium term.

I like the management's large stake in the business and I like the fact that they have obviously gone through this cycle a few times are relatively unfazed.

In a couple of years there will probably be people wishing they could buy in at these prices... IMHO

[c1d] 30/8/2013 11:25

I think that it would be difficult to raise significant debt to finance an acquisition given the amount of debt already in the business, so unless the Dragnis family have very large resources of their own, it would probably be hard to raise the funds to buy the company outright.
Regards

[anusol] 30/8/2013 11:05

thanks c1d - for now Im going to keep watching, but plan to get on board (no pun intended) at some point in the near future. I vaguely remember a lot of discussion about the dominance of the main shareholders in GPRT. At this price, you'd wonder why they aren't taking it back into private hands?

But this is a very quiet forum!