Goldenport Share Discussion Threads

[callumross] 25/6/2014 16:07

Why does he keep buying 5k a day. Why not just buy whatever it is he wants in a one off puchase!

[meijiman] 24/6/2014 10:25

More and more director buying. Could be worth following them in -certainly its a difficult business to analyse unless you are close to the shipping world.

[callumross] 19/6/2014 18:33

Agree,better without the deal. Finance director bought twice in last 2 days persuaded me to top up with another 1000 shares.

[cjohn] 17/6/2014 08:38

I agree meijiman. It certainly increased risk and reduced the discount to asset value.

Given the fall in the BDI, pulling out makes sense.

[meijiman] 13/6/2014 11:14

On balance I see today's RNS as positive (the deal is off). Only my view- and you could make a convincing case for the opposite. Just feel that it increased the risk/uncertainty profile too much at this difficult time.

[salpara111] 30/5/2014 23:09

It is very interesting how low the Baltic Dry Index has fallen given that it is supposed to be a leading indicator for the global economy and that is why I have not bought in here yet.

[callumross] 29/5/2014 12:32

Didn't realise that the Baltic Dry Index had dropped so low - down 58% so far this year!

[hvs] 20/5/2014 15:12

Its all GOLDEN GOLD GOLD GOLD.

lol !!!!!!

Yet another ??? What shall I say.

[salpara111] 13/4/2014 17:19

As I predicted back in January, a loss reported.
I am still keeping an eye on them but don't feel that there is urgency yet to be invested.
If the share price does drift back the the 30p area I would take a stake but otherwise I feel that there are better places to be for the next 3-6 months.

[jonntara] 10/4/2014 13:36

I guess we will find out whether the chairman is in the ceos pocket with this. I have topped up today. Another 13k @ 41.2.

[meijiman] 08/4/2014 08:56

i think the company has shot itself in the foot with both barrels-both feet as well.

[jonntara] 06/4/2014 21:46

I am similar to you. I have been holding since 2010 and have accumulated on the way down and have a slight loss.The dragnis family know their stuff.Why would they be doing this now? That's the big question. They won't be doing this for the good of the minority share holders that is for sure. I guess that the end result for them is that they have reduced their exposure on the assets being sold to golden port from 100% to 59% and they will have increased their own liquidity. Why?

[valueman6] 06/4/2014 21:15

Has anyone looked at the AGM circular - here's my take having looked through the circular + the recent IMS:
1. GPRT looking to purchase 7 vessels (all bulk) valued at $170m (market cap at current rates is $66m)from the Dragnis Family
2. 5 of the vessels, Green Dolphin I-V valued at $120m, have 3 year charter agreements with Trammo - a big fertilizer company, assuming 300days pa = $16m pa at the floor charter rate
3. Cash (cap raise) of $37m would be needed by Jun'14 - not sure what the debt terms are for the balance $134m
4. The IMS (3 Apr) indicates fleet utilisation is much higher on containerships rather than bulk, yet the strategy seems to be to focus on bulk carriers
5. Dragnis family would commit $25m cash to any cap raise and enter into a non-compete agreement for 4 yrs
6. Dragnis family are already committed to $170m for the 7 ships they're trying to offload. Are they overcommitted and is this a way to offload their commitments to the shareholders (of which they represent 59%) OR
Is this the Dragnis family trying to streamline their activities through 1 vehicle - GPRT? and therefore WIN-WIN

7.
- Planning a share issue and consolidation (10 to 1)
- Planning a rights issue + placing (couldn't find details)

This is a game changer for GPRT - I'm not sure what to make of all this - I was quietly optimistic until now about GPRT prospects but related party transactions make me nervous and am no longer sure. I started buying in 2009 and have been accumulating on the way down, currently nursing a small loss

[cjohn] 04/4/2014 09:30

Overall sales of vessels have been at book value since asset values were written down a couple of years ago. This gives confidence that the deep discount to assets is soundly based.

[18bt] 03/4/2014 10:32

Charter coverage has increased markedly in a couple of months

[meijiman] 03/4/2014 08:54

decent looking RNS this morning re ship sale and trading.

[meijiman] 10/3/2014 08:45

Anyone wondering about the outlook might want to have a look at the Clarksons results this morning. Lots of optimism about the outlook. BDI now well up to around 1500 and more to come. Goldenport should be breaking through 50p shortly.

[prop_joe] 24/2/2014 09:28

Thanks meijiman, I'll have a look at Hellenic's statement
Regards

[flagon] 19/2/2014 15:40

HELLENIC CARRIERS LIMITED have scheduled their preliminary results for 2013 to be released on 24th Feb. Hopefully, the positive trends they talked about in their January trading update will have continued and will be a positive read-across for Goldenport.

[prop_joe] 10/2/2014 08:04

Agreed. It is good to see an executive put his hand in his own pocket and pay market price.

[triktrak] 10/2/2014 07:49

Very good to see Alexis Stephanou take a meaningful stake in the company and to describe the future for Goldenport as 'exciting'.

[cjohn] 04/2/2014 10:22

Unless your investment horizons are measured in days, it makes no sense básing investment decisions on the last data point, whether this is this week's BDI score or the price obtained for the last vessel sold.


The BDI is well up over last years's lows. GPT's vessel sales since the write down in their fleet have been OVERALL at asset value (some at a loss, some at a premium).

[meijiman] 03/2/2014 13:02

Yes difficult to chose between GPRT and HCL. Think GPRT is doing a concall today at 2-30pm.Not sure I have time to listen in -key really is how they see the outlook for the year. I suspect they realize that the share price moves like a proxy for BDI but they may not want to make too much of that. I'm in for the medium term so not overly fussed short term by penny up or down. By not committing they are well geared to any recovery in day rates assuming their fleet can be fully utilised.