Goldenport Share Discussion Threads

[nurdin] 29/1/2008 14:56

Jupiter Asset Management lift stake to above 5%...smart

[tole] 18/1/2008 08:16

On Track

Goldenport, the Greek shipping company controlled by 'Captain' Paris Dragnis, jumped 43 to 346¼p as a positive trading update helped gloss over fears about a global economic slowdown.

London's Baltic Dry Index (BDI), which measures freight rates for bulk commodities like iron ore and coal, has fallen sharply over the last couple of months in a sign of growing concern that China's voracious appetite for raw materials could ease if there is a US recession. Goldenport's shares, which had a great run for most of last year, were dragged down by similar concerns as the BDI continued to tumble.

But the stock rebounded after the company revealed that results for the year to December would be in line with market expectations. Mr Dragnis also reassured investors by indicating that 90pc of Goldenport's fleet capacity had already been tied up for this year.

Gert Zonneveld, an analyst at house broker Panmure Gordon, said: "The attractive mix of Goldenport's short-term and long-term charters provides good revenue visibility, which is particularly useful in volatile markets."

Despite concerns that an economic slowdown could hit Goldenport, he added: "We continue to believe that both dry bulk and container markets have strong fundamentals." He rates the stock a buy with a punchy 560p price target.

[tole] 17/1/2008 20:33

Panmure reiterated their 560p target price earlier today -

17-Jan-08 Goldenport GPRT Panmure Gordon Buy 346.25p 560.00p - Reiteration




Goldenport Gains After Securing 94% of 2008 Business (Update2)
By Alaric Nightingale

Jan. 17 (Bloomberg) -- Goldenport Holdings Plc was the second-biggest gainer on London's FTSE All-Share Index after the company secured 94 percent of its bulk-carrier business for the year, shielding itself from a record plunge in rental rates.

The shipping line also leased out 88 percent of its container ships, for an overall figure of 90 percent across the fleet, the Athens-based company said in a statement distributed today by the Regulatory News Service.

The shares rose 43 pence, or 14 percent, to 346.25 pence, valuing the company at 242 million pounds ($478 million). It was the biggest one-day jump since the shares started trading in March 2006.

The stock had declined 27 percent in the previous six trading days, as the Baltic Dry Index, an overall measure of the cost of hiring commodity carriers, slid to the lowest since July. By leasing out carriers on long-term charters, Goldenport can protect itself from changes in that market. The index fell another 6.4 percent today for a record 12 percent decline over the past two days.

Among other shipping companies, Braemar Shipping Services Plc, one of two U.K.-listed shipbrokers, climbed 3.4 percent in London after saying profit in the fiscal year ending Feb. 28 will ``significantly'' exceed results a year earlier.

The shares gained 13.25 pence to 409 pence in London, valuing the company at 84.2 million pounds.

Pretax profit will beat the 11 million-pound earnings a year earlier, the London-based company said today in a statement.

[tole] 17/1/2008 09:14

Good solid bounce on the update - BMS another with a bullish update this morning.

Goldenport sees FY trading in line with market expectations

LONDON (Thomson Financial) - Goldenport Holdings Inc said it expects trading for the full year ending Dec 31 to be in line with market expectations.

The shipping company said 90 pct of the available days of its total fleet for 2008 are fixed under contracts as at Jan 16.

The vessel Fortune, which is expected to be chartered by the summer, provide upside potential given that the container chartering market environment remains healthy, Goldenport said.

[tole] 16/1/2008 15:28

Hi Guys - still have this on my watchlist - likewise should be worth a few at this level after its recent correction.

Last nights article on Baltic...



Snippet -
"Robin Bhar, a metals analyst at UBS, said the Baltic slide may be no more than a correction, reflecting a pause in bulk deliveries to China late last year. "We believe it will bottom out and stage a recovery in due course, underpinned by continued strength in bulk commodity markets."


Also spotted a mention a few days back also in the Telegraph -



"Goldenport, the Athens-based cargo shipping company, held up well in stormy markets, with investors spotting how undervalued it was and buying into its growth prospects."

[cockneyrebel] 16/1/2008 13:56

Just gone long myself.

CR

[nurdin] 16/1/2008 08:05

CKN trading stetment:

[nurdin] 15/1/2008 13:05

In their latest note,HSBC have pencilled in eps of $86 for 07 rising to $113 in 08.That puts current year pe at under 6 with near 32% growth year on year.Way too cheap at current levels imo

[nurdin] 15/1/2008 08:46

yes but GPRT have over 100% of 07 and over 90% of available fleet days in 08 contracted out out at peak rates or there abouts.This short term volatility in BTI are not likely to affect them this year imo

[stompa] 14/1/2008 22:42

You could well be correct:

[18bt] 14/1/2008 18:57

Suspect problem is sharp fall in Baltic Dry Index - i.e. dry bulk rates - going down as fast as they went up, but no short term effect.

[stompa] 14/1/2008 17:56

We could certainly do with some bullish news!

[slowtrain11] 14/1/2008 12:58

Ta, Slowtrain

[nurdin] 14/1/2008 12:57

I will email you if you leave your address here briefly

[slowtrain11] 14/1/2008 12:41

By whom may I ask Nurdin??

Slowtrain

[nurdin] 14/1/2008 12:23

Was told Thursday..I have taken it to mean this Thursday

[slowtrain11] 14/1/2008 12:19

Are u sure that there is a trading statement this Thursday nurdin??

Slowtrain

[nurdin] 14/1/2008 12:15

Watch out for a trading update this Thursady...likely to be quite bullish

[jeanal] 11/1/2008 20:32

Nasty shares gone down again..hope they bounce!

[nurdin] 04/1/2008 08:43

Well I added on that dip yesterday....bargain at the current price imo :o)

[jeanal] 03/1/2008 19:48

Not a clue!

[stompa] 03/1/2008 17:05

Hmmm, what happened there?

[cockneyrebel] 13/12/2007 13:42

Dead here - great sign it's ignored imo.

Chart break out building - big fat reverse head and shoulders.

CR