Global Oceanic Carriers Share Discussion Threads

[robsy2] 27/6/2008 09:21

THanks
I've decided to sell in the market so I'm out of Goc and eyeing up HCL and GLBS. It is hard to press the trade button on GLBS when you see the spread!

[slapdash] 27/6/2008 09:06

Rosby2 - it is of course your choice... the downside now should be limited... and we may get another bid who knows... so I would probably err on the side of holding... especially as it looks like they want to complete the whole thing asap... afterall as this is a cash bid... you are effectively holding cash by holding the stock but with a call option if another bid comes through... I would imagine the chance of this bid failing is very low.......

CB7 - yup does feel a bit like a stitch up... but if you want you can invest the cash in similarly lowly rated stocks like HCL and GLBS...so who cares I guess...

Slap

[robsy2] 27/6/2008 08:54

Slap et al
Well Done everyone. Should we sell in the market or wait for the cash? Anyone know when the cash will be received. I'm wondering whether to sell in the market and beef up my glbs position. Any thoughts?
R2

[cb7] 27/6/2008 08:52

I think they are unfair to blame the market, as many stocks are lowly valued at the moment. Also the market has not yet seen them deliver yet. Perhaps thats why the bid is now, before the interims give an uplift to the shareprice. The exit p/e is about 7 for this year, which is not expensive. The uplift on yesterdays price seems good, but the share has recently been into the 150s, so I would suggest there is some opportunism here. I would rather have held the share and get £3 within 2yrs plus the handsome divis

[slapdash] 27/6/2008 07:51

is this a good price?? what does it say about expectations for shipping???

Good to make a profit in these markets though!!!!!!!

also who are newport holdings and how likely is this to go through??? Couldn't find them on Goolge.... could this be a Greek stitch up... buying GOC on the cheap??? I think the price means an effective P/E ratio that they are buying it on of 4X....

But I doubt we have much choice as I think one or two shareholders have all the stock.... so it will no doubt go ahead...

also I wonder if the other shipping companies.. HCL, GLBS will have similar offers as they are even cheaper than GOC and they have younger ships..... appears to suggest the sector is lowly valued....... at least from the perspective of potential bidders....

freight rates still strong and HCL/GLBS have yields of 11% this year and nearly 16% next year...

Slap

[cockneyrebel] 27/6/2008 07:41

Cheered me up this morning I can tell ya :-)

CR

[chester] 27/6/2008 07:18

Lovely job. See the news guys.

[sailing john] 19/6/2008 18:51

Simon - I agree - nice fill in job and a very good rate for an old vessel.
Had another look at the numbers, news and website and decided to top up sub 134 before the close today. Think the late press release might have snuck under the radar for most. I only spotted this because I am on their email list.

[simonparker5] 19/6/2008 17:14

Sailing John I agree this is a very good rate per day. A little dissapointing that it is only for a month but I suspect they have a longer term charter being nogociated in the wings. If they could get somewhere near this rate for a whole year we would be laughing as it would generate some $16.5m.
Remember also it says a minimum of 35 days so this can be extended.
Should have gone up on this news not down.

[sailing john] 19/6/2008 15:36

Short charter but good rate
BTW previous 12 month rate was $18,500 so just a 240% increase!
Nice little earner while they look for a longer term charter and this fore a small 26 year old vessel

Athens, Greece - June 19, 2008Global Oceanic Carriers Limited (AIM:GOC), a global provider of marine transportation services for dry bulk cargoes, announced today that it has entered into a time charter agreement with OLDENDORFF CARRIERS GMBH & CO KG for the M/V GO Pride for a minimum period of 35 days at the gross rate of USD 44,000 or USD 45,000 per day and a ballast bonus of USD 375,000 or USD 400,000 depending on port of discharge. The charter is expected to commence on or about 26 June 2008.

The M/V GO Pride is a handysize bulk carrier built in 1982 with a carrying capacity of 35,055 dwt.

[slapdash] 14/6/2008 09:45

wilddonkey - job is being a professioanl cynic

that is probably the reason why these companies have low rateings... i.e. the BDI can fall 50%+ in a matter of weeks...

slap

[simonparker5] 14/6/2008 06:50

BDI down another 4% that makes 13% in two days. If they don't get their finger out and charter the two ships due for renewal they may not get the best prices. Confirmation of any agreed terms for these two charters would be useful right now.

[wilddonkey] 13/6/2008 20:45

What is your job slapdash, if you don't mind answering.

[slapdash] 12/6/2008 13:56

BDI down 9% apparently... but still near highs... rumour BHP has removed bids from the market to cool things down...

Slap

[slapdash] 09/6/2008 10:17

someone just bought £1m at 152p..... bring it on....

Also highest volume for six months.. I think this was in the FT today as an analyst said it should benefit from high freight rates..

slap

[cockneyrebel] 05/6/2008 11:12

tweepin' up - look at the chart imo.

CR

[cockneyrebel] 03/6/2008 11:59

looks like a nice buy point on the chart if you look at the tredn - that tick up might nean ome stock cleared here.

CR

[simonparker5] 02/6/2008 17:51

Thought this would be a lot higher with BDI at all time high and two charter renewal announcements due at any time?
Balance sheet at 7 month interims stated net worth of some £1 a share and that was valueing fleet at cost, must be worth more now. Also earnings for full year expected to be at least 25p which puts them on a PE pf less than 6.
Looks very undervalued when compared to some of the American stocks in the same sector.
No ramp intended purely an observation on how I see it.

[cockneyrebel] 28/5/2008 14:28

looks like this is the point to buy the dip looking at L2. Firming up nicely - another rocket north imminent?

CR

[slapdash] 27/5/2008 21:07

I think a lot of hot money in this as it was tipped by chronic investor (Investors Chronicle)...

last time went from 162p to 103p (last downturn).... hopefully this time won't be as bad

slap

[rettah] 27/5/2008 14:38

Spot on CR. Money for old rope!!

[cockneyrebel] 27/5/2008 14:06

illiquid Felix - that's the reaon and when the market is weak in general then that exacerbates any falls imo.

Take a look at the fall from the high in Nov - that was on pathetic volume like this fall has been on. Suddenly it ticks up and everyone charges in again.

One of the highest yields and lowest PE's going imo - this is the sort of level to tuck a chunk away at I'd say.

CR

[felix99] 27/5/2008 13:24

Thanks - so thats not why its falling then lol !

[rettah] 27/5/2008 13:05

Fuel costs are paid by the company that they rent the ship to.