Ocean Wilsons (holdings)... Share Discussion Threads

[piedro] 21/4/2016 12:22

I was going to invite you for a sightseeing cruise around the Guanabara bay
Spot rates must be around USD25,000 per day and getting cheaper.
Lunch at Caju perhaps?

[spooky] 21/4/2016 11:46

And why would you choose to mention that, it isn't exactly very relevant to an investment in OCN.Am i missing something or do you own the ship?

[piedro] 21/4/2016 11:07

en route from China

[piedro] 21/4/2016 11:05

from Marinetraffic.com

[spooky] 21/4/2016 09:58

Piedro, very cryptic, would you care to explain?

[piedro] 21/4/2016 09:55

'Pardela' expected to arrive at Rio de Janeiro today

:-)

AIMHO

[piedro] 20/4/2016 16:54

Brazil's problems being resolved
+ excellent summary of activities

AIMHO

[trytotakeiteasy] 04/4/2016 08:08

Last of The Mohicans - The investment management strategy is over complex, costly and goes for hedge funds, private equity etc. They bought into Pershing Square recently which is Bill Ackman's vehicle and got trounced on Valeant. Would be much better in an index fund. However, the mangers - Hanseatic - appear to believe they are much cleverer than everyone else and so go for complex funds that underperform. Shame as it takes the shine off Ocean Wilsons and undermines the investment case. I.e. a stake in a Brazilian port operator and the full ownership of underperforming investment assets!

[last of the mohicans] 28/3/2016 17:35

Henchard,

The investments held for trading were valued as follows

in 2007 at $272.834M
in 2008 at $209.994M
in 2009 at $238.662M
in 2010 at $260.544M
in 2011 at $226.797M
in 2012 at $221.582M
in 2013 at $244.969M
in 2014 at $236.491M
in 2015 at $2??.???M

Says it all really, when you look at how much some of the main markets have risen compared to 2007 & our portfolio is still underwater in comparison.

LOTM

[piedro] 28/3/2016 15:35

Wilson Sons share price up on the 4Q15 earnings release ...



... but has dropped after today's webcast

[topvest] 27/3/2016 18:31

I'm still more than happy to hold. Wilson & Sons has been very resilient in a fairly dire Brazilian economy over recent years. I'ms sure it will continue to prosper. Management are sound.

[piedro] 23/3/2016 13:52

"Tecon Salvador beats productivity record on the 4th March
with 92.6 movements/hour"

[piedro] 23/3/2016 13:01

From the Wilsons Sons 4Q-15 Earnings Release ...
Equity attributable to owners of the Company = US$ 432.912m

Shares in issue... 71.144m
Equity / Share.... US$ 6.085

[gfrae] 22/3/2016 22:37

Lotm,all those thing you say are presumably the reason that it's at a 33% discount to NAV. Another point to consider is: how realistic is the Wilson Bros share price beareing in mind that it has one significant majority shareholder ?

[henchard] 22/3/2016 20:35

LoTM, I like the Wilson Sons business and OCN's current discount to NAV, but your post has got me thinking. Thanks. I will take a closer look at the investments arm, and cash returns to shareholders versus cash flowing to directors and others over the years before going any further.

[last of the mohicans] 22/3/2016 12:23

What you think its great that we pay our own directors fees for running the business.

They then create an investment fund, pass the running of it to another company that many of them have connections to & lose $2.5M a year in fees & 10% of any out performance profits that occur in any given year.

That same company doesn't buy individual stocks & shares, there job is simply to then pass on some of the funds to other fund groups, who get a piece of the action in the form of annual fees themselves & in the case of some hedge funds a massive cut of any profits the fund makes.

Totally flawed system that has yield shareholders very little in the time its been created compared to those running them.

They would have been better buying low cost index funds. On the FTSE, Dow & Nasdaq. We'd have got a far better ROI.

Varies, your memory must be short, if you've held them that long, then you should remember the savage dividend cuts as well.

LOTM

[varies] 22/3/2016 10:32

All things considered, I regard the maintenance of the dividend as very satisfactory.
We would all like to have sold our shares at £14 a few years ago but, having held these shares since the price was 40p and received a handsome dividend every year, I am very satisfied.
As for the portfolio management charges, out-performance is worth paying for.

[darlocst] 22/3/2016 09:40

I make the current discount 38%. Probably a bit more in reality as investment portfolio should have appreciated since year end.

[piedro] 03/3/2016 00:41

CONFIRMED ...

Use It or Lose It: Big Oil Moves to Drill in Brazil But Not Because Things Improved
March 1, 2016 by Bloomberg
By Peter Millard
Major oil producers are beginning to confront the need to develop offshore prospects in Brazil, or lose them.
Total SA and BP Plc are starting to search the market for drilling rigs, helicopters and support vessels for deepwater Brazilian fields even as the industry endures its worst downturn in a generation, three people involved in the projects said. .... ....

[topvest] 03/1/2016 08:28

I've doubled up here and at Hansa trust. Ocean Wilsons has held up very well really in adverse market conditions. Indeed in local currency the Wilson & Sons share price is holding up very well. It's always difficult to predict the bottom. There are signs that the share price is stabilising, but this has happened once before. I'm more than happy to hold long term. At some point they may still have a demerger of the investment portfolio. Emerging market currencies are bound to bounce back at some point, but maybe 6 months or so off would be my guess. Of course, we may all be wrong and this is a value trap, but I think not.

[bench2] 02/1/2016 21:57

31 Dec 2015 .. Year end est NAV per share : U$ 9.76 Wilson ( 41.444m shs @ R 32.99 Fx R3.9608 to $ ) Portfolio using 31 Oct 15 value U$ 6.96 ps ... total U$ 16.72 ps = 1134p ( FX $1.4746 to £ ) . Recent Director buying at 775p on a 31.6% discount . Beginning to look good value if you think Brazilian Real has bottomed . Plenty of caveats .. not least if you view Wilson Sons as a quasi oil service company rather than a port operator ( eg similar to the old Tidewater US ) then the stock is too expensive .. We probably need the oil price to recover . Big question how dependent is WSON33 on Petrobras ... and if the answer is very .. then will we find Wilson being dragged into the high level corruption charges . Over to you Topvest and Piedro

[piedro] 29/12/2015 11:20

Translation of:


SECRETARY OF PORTS

ORDINANCE- 609-A, OF 17 DECEMBER 2015
Approves, on a preliminary basis, the Plan of Investments made by the company Tecon Salvador SA, for the port rental of Lease Agreement No.012/2000 - CODEBA, located in the Port Salvador.

THE MINISTER OF STATE HEAD OF SECRETARIAT
PRESIDENCY OF THE REPUBLIC OF PORTS, in use of the
attributes conferred upon him by items I and II of the only paragraph of art. 87 of the Federal Constitution and in accordance with art.24 of Law 10,683, of May 28, 2003, with the art. 57, chapter and § 1 of the Law No. 12,815, of June 5, 2013, and with art. 2, V and art. 42 II of Decree No. 8033 of June 27, 2013, decides:

Art. 1 - Approve, on a preliminary basis, the Investment Plan submitted by Tecon Salvador SA, for
The port lease object Lease Agreement No. 012/2000 - CODEBA, located in the Port of Salvador.

Art. 2 - Forward the administrative proceedings SEP No. 00045.003584 / 2014-62 to the National Agency of Transportation Aquaviá-rivers - Antaq for analysis and demonstration of the Feasibility Study Technical, Economic and Environmental – EVTEA presented by the company.

Art. 3 - Upon completion of the procedure laid down in previous article, the case should be returned to the Secretary of Ports the Presidency - SEP / PR for final deliberation and the assigning of Amendments to Lease Agreement No. 012/2000- CODEBA, if they met all legal requirements.

Art. 4 - This Ordinance shall enter into force on the date of its publication.


HELDER BARBALHO