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https://simplywall.st/stocks/gb/energy/lse-gms/gulf-marine-services-shares/news/does-gulf-marine-services-plcs-longms-ceo-pay-reflect-performance/
http://www.stockmarketwire.com/company-news/GMS/Gulf-Marine-Services
https://www.marketscreener.com/GULF-MARINE-SERVICES-PLC-16023308/
https://www.stockopedia.com/share-prices/gulf-marine-services-LON:GMS/
At 44 million market cap there could be a serious upswing or takeover.
GFD must be away? hope he is ok.
Not sure ssb1 that the 3 million trade was not a buy a few days ago .iirc.
You will have to look back on there and double check, a lot of sell and buys register incorrectly.
IF it is true that city financial still have 10.5 million shares, every 3.5 million they must declare to GMS and thus the London Stock Exchange their holding.
Just as a point of interest in case anyone reads these posts and gets nerves.
All things being equal I think the sp should be in the 30's to 40's, but the facts are obviously pointing to it doing something different, it could well take some news about the financial repositioning to clear this.
the big difference (as far as I am aware) is the fact that GMS has its own yard, It can modify a vessel for a particular contract (if needed) and they have modified several vessels in the past (with things like large cranes etc for windfarm projects) and makes them more adaptable. It should ensure they have more work.
They total around 940 million iirc, and they have loans of around 400 million I think.
There a new fleet with 25 years in front of most of them.
One of the reasons they are not about to bust in a rush. Despite the grim headlines before Christmas (that was averted) they have a long future in front of them.
12.75 to sell!
city financial is hokum.
just a tree shake.
it would cost me 12.875 to buy at the moment. min. shake a tree time......
this is just a few panic selling at the drop.
iirc they had 10.5million left
Sounds like you may be spot on with that. Just love the way administrators take a hefty fee and then dump assets at next to nothing, nice work if you can get it.
Funnily enough you may have solved a mystery there. First got in here in single figures and later that day got passed on the M1 by a van carrying the letters GMS in 2 foot high letters on the side.
Wondered if it was a sign from above but now you mention Del boy it occurs to me the van was a very familiar shade of yellow.......
Remember these guys had 11.5m shares I posted about this more than 1 month ago.
We saw a massive trade of just under 3m go though but it still left them with 8.5m shares.
I expected some of that is being dumped on the market at a silly price of 11p or 10p. Wait for for a big sell later today.
Since mid last year there have been numerous new contracts with possibility of extending those contracts.
There has been an increase in "green" projects with windfarms, the Seafox company sold 51% of a large vessel not to long ago and bought into GMS at 18p and hold 13.8% irrc.
The vessel is in a long term contract in the north sea on a windfarm.
The is increased windfarm work in the gulf region is from the UAE not Saudi iirc.
That accounts for 28% of work in the gulf region looking forward.
Best to have look on the website. That link was at the top in the first post I did today.
I was wondering if GFD is ok? perhaps he is posting on another board?
Heβs on his holiday in Peckham visiting Dell boy....
Starting to miss GFD also, pretty much on here daily since December.
Odd goings on here SP drop on no volume and in auction with no quotes to buy or sell for last 30 mins.
Sorry I made a mistake, the mid and large vessels are most utilised.
http://www.gmsuae.com/
There are 13 vessels the most notable named vessel being "kamakazi".
There called barges as far as I am aware, they fall in to 3 categories, small, mid and large.
They small and mid sizes are carrying the most workload as far as I am aware, there is the possibility of new contracts, the small vessels being the most underutilised.
Normally the vessel is "worked" and the contracts fit the vessel. So its vessel dependant. The best way to check and gauge for yourself is to look back on the RNS and look for "new contract announcements".
The SP is taking a tumble this morning.
I can see SEAFOX buying more and offering 18p again.
That or an announcement from the new Chair buying in.
Does anyone know the number and size of vessels not currently in use, and could they announce a new contract at any time or is there usually a particular time of year for that?
Are you ok?
I see. Thanks for explaining.
Timmy no they can't; generally the rate agreed at the start of the contract is the rate throughout and that can be an issue especially in the current climate. Essentially, in order to get work at the moment companies have to be very competitive resulting in very narrow margins. The dichotomy is that if 6 months into an 18 month charter, OPEX increases (wages and other costs etc have to increase as the market is recovering and the 'supply chain; reacts), then a company could finish the rest of the charter operating at a loss. Precisely why the need to generate revenue 'now' must be balanced against getting locked into low rates for any length of time.
I don't fully understand day rates. Can they be changed by GMS at any time depending on factors? I originally thought a set amount was agreed on for the entire charter contract and that was that until the contract ended.
Si547, top man perfect explanation thank you sooo much
Guys, the driver of day rates is directly impacted by the availability of rigs; straight forward supply and demand. Having said that, the availability of rigs is driven by the oil price; the higher the price of oil then NOC, IOCs etc increase their spending to get it out of the ground. Each region has a different break even point that it needs to extract oil; in the Middle East, shallow water etc makes it less costly to extract so they make a profit at a lower oil price than in the North Sea for example. As a result, the downturn hit the Middle East later than the North Sea and will also recover before the North Sea. Due to the downturn, the biggest impact was in CAPEX spending (eg. exploration); OPEX (keeping oil flowing & maintenance) was reduced but they kept the lights on. The significant thing about GMS is that the majority of their work is in the OPEX sector so that bodes well especially in the ME (where the bulk of their fleet is) as both KSA and the UAE have committed to increase their output which means money being spent to open the taps and increase output.
$70 a barrel now
Dont forget.
I have seen employees who are non investor types sell their shares they get as "bonuses" to boost wages.
Dont be surprised if there is slightly increased selling after some of the shares are awarded.
The oil price I mentioned Look at Jan 16 with the oil and July 16 with GMS.
The dip in Jun17 (oil) to the dip in Aug 17 (GMS)
From Sept 18 to dec 18.
I do agree with GFD, the day rates are not the employees faults and there share bonuses are more than probably well deserved. Just dont be surprised if a few get sold. Some are not going to be investors. They are a different breed.