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HCL Hellenic Carr.

3.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hellenic Carr. LSE:HCL London Ordinary Share JE00B2904G88 ORD USD0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 3.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Hellenic Carr. Share Discussion Threads

Showing 551 to 574 of 650 messages
Chat Pages: 26  25  24  23  22  21  20  19  18  17  16  15  Older
DateSubjectAuthorDiscuss
15/3/2013
08:57
I sense you do want to buy for the long 3 - 5 year recovery....No Advice Intended!...
diku
15/3/2013
08:50
Yes, what to do? Decisions....
greedfear
15/3/2013
08:31
Impressive amount of silence in that report. No comment on when the new boats were set to be delivered and no comments on the new second hand boats.

There is still the important question of what the fall in asset values could do to the debt they can draw down for the new boats and any knock on impact on their cash balances/NAV.

They say the darkest hour is right before the dawn. I can't see whether this is worth buying or not so it must be pretty dark! Nonetheless, I think I will sit on my hands.

scburbs
15/3/2013
08:07
results


Looks ok to my untrained eye. Some writedowns but net tangible asset value is 107p. Says new boats to be delivered in 2013 so looks like they will be late which is good. Recovery expected in 2014.

hugepants
13/3/2013
12:58
maybe we'll get an update on the expected delivery date for the 2 new boats. Hopefully delayed a year or two!
hugepants
13/3/2013
08:58
Friday....
diku
12/3/2013
21:31
Results got to be out soon...
diku
22/2/2013
19:57
Still no news on new boat delivery...
diku
11/2/2013
16:12
Yes and the bid price just went form 16p to 18p....wonder if market senses news coming....
diku
11/2/2013
11:53
Looking a bit stronger here. The Baltics Dry Index still very weak though.
hugepants
14/1/2013
22:24
Wonder if the new boat is ready or delayed?...
diku
10/1/2013
22:17
It seems a heck of a complicated to determine present value of this company.
Baltic Dry Index seems to have possibly bottomed, if so this would be a play on the Baltic?

hectorp
06/1/2013
11:22
Hi HP,

Re your Q in 185, US$ 10.1M is.

From the above RNS :

....."Restricted cash reported at 30 June 2012 amounted to US$13.8 million. This amount consists of i) US$10.1 million being the proceeds from the sale of M/V Hellenic Sky which are held in a pledge account for the purpose described above, ii) US$0.3 million being funds held in retention account for the repayment of the next installment due under one of the existing loan agreements, and iii) US$3.4 million retained against issuance of a bank guarantee of US$3.1 million. This bank guarantee was provided as security to Setsea SpA, the former charterers of the vessel M/V Hellenic Sea, pending the outcome of arbitration proceedings already commenced in London between the owners and charterers on the occasion of the vessel's grounding in the Amazon River in July 2010. Input from legal advisors is supportive to the owners' position therefore, as at today, the Company has not recorded a provision in the interim financial statements......"

HTH

extrader
04/1/2013
15:17
cheers. So just say each ship is now valued at $20M that means the banks loan HCL $13M and HCL need to find $21M. But they've already paid $14M deposit per ship so they would need to find another $7M (per ship)? They had over $40M cash at interims.
Anyone know what the $13.7M restricted cash is for. Is that earmarked for these boats?

hugepants
04/1/2013
11:36
"Loan facility agreements securing financing of up to 65% of each vessel's market value upon delivery or maximum US$22.1 million per vessel have been signed. Such amounts shall be drawn down upon delivery of each new building vessel from the shipyard. The Company has no further financial commitments to the shipyard until delivery of the vessels in 2013."
scburbs
04/1/2013
10:47
I don't know whether the banks can revalue the new ships and cap loans at 65% of their new value. I'm sure they would want to do that but is that standard practice?
hugepants
04/1/2013
08:14
HP,

Thanks, good news on the new ships. Was anything said on whether the banks were going to call for a delivery valuation of the new ships and what that could do to the cash balances (given the bank loans are capped at 65%)? Such high spend on second hand boats is less good news (dependant on whether you are looking at the upside or the downside - not being a holder, as yet, I am looking at the latter).

The way family controlled groups interact with related parties is never insignificant.

scburbs
03/1/2013
23:05
Agree worth keeping on eye on these receivables shrubs but they are pretty insignificant in the grand scheme of things.

Stemis's post #134 worth rereading. The 2 new boats are expected to be delayed by a few months which I think is good news given how low freight rates are. Maybe Hellenic can get some compensation as well!

hugepants
03/1/2013
14:24
Mantinia Shipping Company SA (a company under control of the family shareholders) is charging c.$1.3m p.a. for technical management. They also have charged (to 31 December 2011) $330k in relation to the acquisition of the new ships.

Despite this one way flow of invoicing from Mantinia to HCL, there is an amount due "from" Mantinia which is creeping up. This was $611k at 31 December 2010, increased to $1.1m at the end of 2011 and there is a further c.$600k increase in related party debtors in the 30 June 2012 accounts.

The other balance in related party debtors is $1.9m due from Hellenic Carriers Corporation S.A. This balance was created in relation with the listing and has just been left outstanding for many years with a statement that is expected to be settled.

With the group's market cap at such lowly levels these related party receivables should be brought under control (there is certainly no reason for the Mantinia balance to be regularly increase given the flow of services is in the other direction!). Does anyone have any insight into them?

scburbs
03/1/2013
13:33
The longer the downturn lasts the more companies will go under. HCL has plenty of cash so should be able to ride out this storm even for the next few years. But hopefully it wont last that long!
hugepants
03/1/2013
11:46
A bit of action here...Any rumours on boat news?....
diku
02/1/2013
12:52
"Nothing is more volatile than shipping," said Wilbur Ross, a veteran "vulture" investor who has been buying ships and shipping companies. "I'm assuming the industry will turn around in 2014. If it [the downturn] goes on longer, my return on investment will not be so good."
jonwig
21/12/2012
15:27
Baltics Dry Index collapses most in 4 years
hugepants
18/12/2012
10:54
the Baltics Dry Index is collapsing again. Now at 766.
hugepants
Chat Pages: 26  25  24  23  22  21  20  19  18  17  16  15  Older

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