Global Oceanic Carriers Share Discussion Threads

[sharegod] 13/12/2005 18:11

this appears cheap.trading almost at cash and valuing the business at almost nothing.something must be up.

[jonwig] 13/12/2005 16:12

Website:







Global Oceanic Carriers limited (GO Carriers) is a Jersey Channel Islands registered company and is a fully integrated shipping company comprising ship ownership, management, chartering brokering and through its strategic partnerships, ship building and repair within the dry bulk sector.





Better set of charts for Baltic Dry Index here (can choose different timeframes):

[wiganer] 13/12/2005 15:53

Down with De Caprio, it's going down with De Caprio.

[grippa] 13/12/2005 15:52

Bangsi...I think the only way is down from here! IMHO

[bangsi] 13/12/2005 14:35

Agreed it's the MM's doing the usual daylight robbery...BUT does it look like it will go back up from where it is now ?? Maybe not...

[tiltonboy] 13/12/2005 11:22

seagreen,

That is from July 2000. Try and be a bit more up to date.

tiltonboy

[seagreen] 13/12/2005 11:13

Trying to get to the bottom of this as a trader said just stuff Global Ocean Carriers into google and this is what comes up...it appears they are owed a lot of money and they are taking the case to chapter 11?

(edit I need time to read this and I have not got it

Actually looks like old case .....so probably ok ...but holders may want to check it out)

[pbracken] 13/12/2005 10:45

Today's price fall on low volume is quite clearly mms closing out T10s at a huge loss to the latter (like seagreen).

In a lightly traded stock like GOC it is very easy to do - look at the trade sizes; they mirror exactly the Buys at the time of the recent statement.

You have to laugh...

[seagreen] 13/12/2005 08:23

ugh jumped -17% someones shorting I think.......

[jonwig] 02/12/2005 12:38

This from Growth Company Investor on 25/08/2005.
A bit old, but adds background. Share price was 106p.


This Greek shipping enterprise has seen its shares drift 24% from their late May float price of 140p, giving investors a good opportunity to climb aboard. Global Oceanic Carriers was set up by chief executive Vassilis Vintiadis to buy, from two brothers, three vessels that transport drybulk. Shipping broker Vintiadis teamed up with finance director Douglas Kearney, who has a private equity background, to raise £20m. This, with an additional £20m loan, purchased two Panamax bulk carriers, able to carry up to 70,000 tons each, and a Handysize vessel, carrying 30,000 tons. Global has also bought another Panamax carrier as well. There is currently strong demand for drybulk ships because most shipyards are building double-hull tankers to replace single-hulled ones that will be phased out, following environmental disasters, in the next five years. At the same time there is strong demand from Asia for iron ore, coal and grain. Between 1999 and 2004, trade in all drybulk commodities rose 25% to 2.46bn tons, most of which is transported by sea. Vintiadis has strong contacts in China. The company may eventually buy nine vessels. The three initial ships made a profit of up to $14m last year. In a recent trading update, the group said the Baltic Dry index had risen 42% during August on an anticipated rise in trade volume and charter rates. The recent share price fall makes them a speculative buy.

[jonny mac] 01/12/2005 21:52

Just attempted to access the company website, and received the message :"This web site has been suspended."

What on earth is going on?

[latestarter] 01/12/2005 10:47

the print is at 65 not 70

[berry786] 01/12/2005 10:47

also grippa if the market had 'burst' then I think that would mean a serious fall in demand from China and India for natural resources which obviously hasnt happened if you look at the price of resource stocks. Please also note the following cut out from the announcement made on first day of dealings:

The drybulk market

Drybulk ships carry cargo that is shipped in large volumes and including iron
ore, coal and grain. Strong demand from Asia for these commodities has been the
driving force behind the recent increase in seaborne drybulk trades. Between
1999 and 2004, trade in all drybulk commodities increased from 1.97 billion tons
to 2.46 billion tons, an increase of 25 per cent. In 2004, approximately 2.5
billion tons of drybulk cargo was transported by sea, comprising more than
one-third of all international seaborne trade. Fuelling this growth has been
the Far East which imports over half the worlds shipped coal and iron ore.

This demand has led to a considerable shortage of drybulk ships with shipyards
at full capacity until the end of 2007.


Regards

[pbracken] 01/12/2005 10:43

Incidentally, I don't think it was CITI that took the stock yesterday; I think it was Collins Stewart, the House Broker. That's why GOC was able to get a notice out to the stock exchange at 0803hrs - the notice was written in anticipation of the fall, and to reassure existing shareholders who might have bailed out before the reassurance had been issued.

[pbracken] 01/12/2005 10:36

gripe - You'd be taken a tad more seriously if you didn't spew arrant nonsense like 'the shipping market is finished'. It might be flat, it might even be deteriorating, but one thing for sure, it ain't finshed.

An insitution has bailed out of GOC for reasons no one truly knows; that means there is a largish overhang to clear, and meanwhile the share price will mark time.

If there are no more sales of size, and if the company continues to enjoy the trading it announced this morning, I see no reason why this stock can't rebound strongly - a good trading punt in my view.

[berry786] 01/12/2005 10:33

grippa, can you tell us all where you have been getting all your information from please. The company is obliged to tell us if there is a serious deteriation in trading conditions yet they have just confirmed the opposite today!

[grippa] 01/12/2005 10:01

mdchand...longterm contracts are not available at the moment!! not like they were two months ago!! I have no interest in this share...but hate to see people jumping onboard shipping stocks when the market has burst...