Global Oceanic Carriers Share Discussion Threads

[jak1] 25/5/2007 10:22

Er, if I owned and saw that much of company sold off at that price, I'd panic...

[idioterna] 25/5/2007 10:08

Very mysterious....

[abubryn] 25/5/2007 09:35

Wow that calls for a rns 1/8th of the company sold is a big lump and at such a low price .dont panic Mr Mannering .?

[idioterna] 24/5/2007 09:39

As the BDI begins to fall it looks like those two long term charters were an excellent move.

[tadtech] 23/5/2007 10:15

I would not be surprised to see some decent press on this company over the next few weeks especially with the flotation of Global Marine due shortly which should bring the sector into attention. Certainly deserves to be at the floatation price by now IMO.

[johne1] 22/5/2007 13:56

Many thanks for the reply Masurenguy.

I will see you here, on the SMC thread, or somewhere else, as we do our rounds, in an endeavour to become very wealthy.

All the best.

P.S. I took the time to read through every single post here, at the weekend. Some good words, I think and worth giving a few coats of looking at.

My only concern is with the few vessels and the associated risks, if one or more become damaged etc... However, we have been there, many times haven't we?

[masurenguy] 22/5/2007 13:45

Yes !

It's either because it is based or registered (or both) outside of the UK.

[johne1] 22/5/2007 12:55

This may be a silly question but, why did I not pay stamp duty on my purchase yesterday?

Is is because the company is based outside the UK?

Thanks in anticipation of a reply.

[abubryn] 21/5/2007 17:10

Nice to see a pause today,it will put off the T trade merchants .
Steady rise and keep adding thats the way to do it .Not even up to float price yet .steady as she goes and all ahead gently .

[jamesjoel] 21/5/2007 09:56

It still is significantly undervalued their ships are worth more than the market cap.

[myopia] 21/5/2007 09:24

don't be fooled by ADVFN's stated mkt cap figure of 22m for the group. Actually it is capitalised at 48m now after the recent rises so I'm afraid some of you might be being misled and thinking it is significantly undevalued.

[tadtech] 21/5/2007 09:06

ABUBRYN

Point taken, thanks.

Forward EPS forecast by Jeffries @ 21.60p for 2008, on a conservative PE of 8.5 suggests a share price close to £1.85p

[abubryn] 21/5/2007 08:25

Tadtech.
just one small point .Twice now you have stated they are returning to the dividend list .I dont think they have paid one since their float .promising to pay a maiden dividend this year sounds better I think .

[saucepan] 21/5/2007 08:17

Just bought a third tranche at 122p.

[tadtech] 21/5/2007 06:52

Yes PP.

It seems that GOC are well below the radar currently. With a return to the dividend list and seemingly a generous forward policy a re-rating should occur quickly IMO. Even given the cyclical nature of this business the shares seem considerably undervalued on fundamentals.

[papalpower] 21/5/2007 03:11

Thats good news Tadtech, as it allows an immediate comparison in terms of pricing, which should no doubt point to the fact that GOC is presently undervalued by quite some measure imv.

[tadtech] 20/5/2007 20:59

Some more interest in the sector should occur shortly with the floatation of Globus Marine on the AIM.

Former right-hand-man of Stelios Haji-Ioannou (Easygroup), Mr George Karageorgiou is to lead a float of a Greek shipping business, Globus Marine, on the AIM Market.

[tadtech] 19/5/2007 10:33

2 months ago I bought into HICH at 250p, it was an undervalued/ignored broker with growth currently running at 150% and strong forward statements, the shares are a thin market too. At the time it was selling at a forward PE of 10 compared to the sector average of 17/18. Since then the shares have risen nearly 70p my target price is 450p.

GOC reminds me very much of HICH in that there is strong ongoing growth which has not been recognised by the market. The market has also not realised that the new management are on the ball and forward looking, the problems of the past seem very distant. The dividend policy is also seemingly attractive. Also there has been takeover interest in the past.

With nearly 75% of the shares currently not available to the public (according to GOC's website) it is obvious a squeeze could occur and the shares should rise fast on any relative buying demand.

I too feel a price in excess of £2 is fair value considering forward prospects/potential. The RSI is none too demanding from a technical view at the moment either.

[papalpower] 19/5/2007 10:20

Strange isn't it, but DL take note of all broker recs on any stock, not just the House Broker. Perhaps you ought to point Charlie Stanley to DL web site and tell them to sort it out.

Here is the screen drump :

[rivaldo] 19/5/2007 10:07

Crikey PP, I dunno where these sites get their info from, but I suggest you DYOR rather than rely on these guys for accurate info!

BMS is currently a Buy from the broker, Charles Stanley. Even after recent rises it's still on a P/E of only 11.7, which reduces to around 9 after you strip out the cash pile. Two directors have in the last 3 days bought £104,000 of stock between them post-results and prior to the upcoming AGM. Best of all as I said before, it's ISAble, so no tax to pay on gains.

Again, not to compare with or comment on GOC - I just dislike erroneous info! Sorry for the OT folks - GOC will do well I'm sure.

[papalpower] 19/5/2007 02:28

The risks associated with the business is why shippers trade on lower PER ratios, however, not as low as GOC presently is.

A forward rating of times 8.5 is a general "average". Thats over 200p for GOC.

[henryatkin] 18/5/2007 19:47

I would have thought that any losses from damage /accident would be covered by insurance. Most major companies have loss of earnings cover! The management seem to cute to have ignored something so fundamental. I really can't see much downside at all.

[konkel] 18/5/2007 14:36

The beauty of this business is the visibility of earnings....as far as I can see the only thing that could hurt them would be damage to any of the vessels and therefore a loss of earnings during repair work as well as the cost of repair itself of course. That aside I would expect a re-rating and a move towards 200p is reasonably short order. I bought these on the issue at 140p so have gone the full circle. Unfortunately poor rates and even poorer management in the early days cost shareholders dear but now things are back on an even keel (no pun intended) and I feel much more confortable and not a little richer too!