We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Global Oceanic | LSE:GOC | London | Ordinary Share | GB00B079WL45 | ORD 0.0003P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 168.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Global Oceanic Carriers Global Oceanic Carriers Limited (AIM:GOC), a global provider of marine transportation services for dry bulk cargoes, announced today that it has taken delivery of the M/V "GO Friendship", a Handymax Bulk Carrier, which the company had previously agreed to acquire for USD 37 million. The M/V "GO Friendship" was built in Korea in 1994 and has a carrying capacity of 44,875 dwt. As previously announced on July 10, 2007, the vessel has been secured under a fixed-rate period time charter for 3 years with SAMSUN CORPORATION at the gross rate of USD 26,850 per day. Michael Tartsinis, Chief Executive Officer of Global Oceanic Carriers Limited, commented: "We are pleased to have taken delivery of the M/V "GO Friendship", our sixth vessel, and our first of two Handymax bulk carriers which we agreed to acquire in June 2007. We expect to take delivery of the second vessel, the "Go Star" within October 2007, expanding our operational fleet to seven vessels. Furthermore, the three year time charter we have secured for the M/V "GO Friendship" is in line with our strategy of employing our vessels under medium to long term period charters with reputable charterers enabling us to generate visible and predictable cash flows, enhance our profitability and sustain our dividend policy, which commences in the current fiscal year, as announced. "In this context, 100% of our fleet operating days for calendar 2007 and 83% for calendar 2008, are already secured under fixed rate period employment". Fleet profile As of October 2, 2007, the composition and employment of our fleet is as follows: Vessel Type DWT Year Charter Charter Expected Daily Name Built Commence- Period Rede- Charter ment livery Hire (US$) (Minimum Period) -------- --------- ------- ----- --------- ------- -------- ---------- GO 36 Patoro Capesize 150,108 1991 Jun-07 months Jun-10 32,000 (1) -------- --------- ------- ----- --------- ------- -------- ---------- GO 23-25 Public Panamax 71,761 1993 Dec-06 months Nov-08 21,000 -------- --------- ------- ----- --------- ------- -------- ---------- 12-14 GO Faith Panamax 65,125 1984 May-07 months May-08 28,000 -------- --------- ------- ----- --------- ------- -------- ---------- GO 26-29 Trader Handymax 45,693 1996 Jan-07 months Mar-09 19,250 -------- --------- ------- ----- --------- ------- -------- ---------- 12 GO Pride Handysize 35,055 1982 Jun-07 months Jun-08 18,500 -------- --------- ------- ----- --------- ------- -------- ---------- GO Friend- 36 ship Handymax 44,875 1994 Sept-07 months Sept-10 26,850 -------- --------- ------- ----- --------- ------- -------- ---------- Fleet Total: 6 Vessels 412,617 -------- --------- ------- ----- --------- ------- -------- ---------- Additional Vessels (with expected delivery date and with charter commencing upon delivery) ---------------------------------------------------------------------- -------- --------- ------- ----- --------- ------- -------- ---------- GO Star 36 (2) Handymax 43,656 1994 Oct-07 months Oct-10 27,000 -------- --------- ------- ----- --------- ------- -------- ---------- Grand Total: 7 Vessels 456,273 -------- --------- ------- ----- --------- ------- -------- ---------- (1) The M/V "GO Patoro" is currently employed under a Time Charter until June 2010. For the first year of the time charter ending June 2008, the daily charter rate is US$32,000. The rate for the second and third years ending June 2009 and 2010 will be US$27,000 and US$22,000 respectively. (2) The M/V "GO Star" is scheduled for delivery in October 2007. For further information please contact: Global Oceanic Carriers Limited Michael Tartsinis, Chief Executive Officer Tel: +30 210 898 6362 E-mail: mtartsinis@gocarriers.com www.gocarriers.com or Jefferies International Limited Nick Davies Tel. +44 (0)207 618 3500 E-mail: ndavies@jefferies.com or Investor Relations / Media: Devina Artley Capital Link (London) Tel. +44 (0)207 614 2900 E-mail: gocarriers@capitallink.com or Paul Lampoutis Capital Link, Inc. (New York) Tel. +1 212 661 7566 E-mail: gocarriers@capitallink.com www.capitallink.com Further Information - Notes to Editors About the Company Global Oceanic Carriers Limited is a global provider of marine transportation services for dry bulk cargoes through the ownership, management and chartering of dry bulk carriers. The company is incorporated in Jersey and has its principal executive offices in Athens, Greece. The company's current fleet includes six dry bulk carriers, comprised of one Capesize, two Panamax, two Handymax and one Handysize vessel. Global Oceanic Carriers has also entered into agreement to acquire a Handymax vessel scheduled for delivery in October 2007, thereby expanding its fleet to a total of seven dry bulk carriers with an aggregate carrying capacity of 456,273 dwt. GO Carriers is listed on the AIM market and its stock code is GOC. Forward-Looking Statement Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect the current views of Global Oceanic Carriers Limited ("the Company") with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in the Company's operating expenses, including bunker prices, dry-docking and insurance costs, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. The Company does not assume, and expressly disclaims, any obligation to update these forward-looking statements.
1 Year Global Oceanic Carriers Chart |
1 Month Global Oceanic Carriers Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions