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1) 8th sept 2014 The Shelbourne Hotel, 27 St Stephen's Green, Dublin, 2 Ireland 18-2000hrs Fastnet Oil & Gas Amedeo Resources PLC Galantas Gold Mkango Resources 2) 8th sept 2014 The Radisson Blu Edwardian, Free Trade Hall, Peter St, Manchester Petroceltic International Leni Gas & Oil Sirius Minerals Amedeo Resources PLC The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine ... Hopefully we will get a bit more info/update.
is required here. The yard will be fully operational around now and I suspect the company are keen to have the next order in the firing gun ready to go. My understanding is that they have orders in the pipeline but they take time to close out (given the nature of complexity and cost involved). I rather hope it will be sometime this year for at least one big order to be confirmed and finalised .... that alone will see this multi-bag imo. But patience is a virtue here, and imo will be well-rewarded...
Keep looking at getting back in here as I feel the future is very bright but nearly everytime I look it seems to be dropping still. Wondering where the bottom will be. I'm surprised they haven't anounced any new contracts yet, perhaps people are waiting to see how the original two orders progress although I can't imagine other businesses sitting back and waiting. Oh well, time will tell, GL to all that are still holding here.
Some new news would be nice. For a company to have spent so much money and not to have more orders at this stage is quite unbelievable. I realise more patience is required and that once the next orders are released then there will be no going back. It is good to see investors still purchasing above the 1 million mark and may we see many more in the near future. GLA
Amedeo presenting at the Shelbourne in Dublin 8th September. To register; http://tinyurl.com/lu28l8g
Excellent.
Amedeo Resources CEO excited by offshore opportunity https://www.youtube.com/watch?v=Bs7En7KHAi4
This would be great news indeed if AMED had a holding in Yangzijiang Shipbuilding but they don't they have a holding in Jiangsu Yangzijiang Offshore Engineering Co which has no financial holding in Yangzijiang Shipbuilding. unfortunately other than the name this will have no effect on share price here. But im sure the boss of Yangzijiang Shipbuilding will get a nice bonus :)
Yangzijiang records highest quarterly profit of $201m Yangzijiang Shipbuilding has posted its highest quarterly profit in the second quarter due mainly to a one-off gain and tax refund. Net profit in the quarter ended 30 June 2014 surged 52% to RMB1.24bn ($200.86m) from RMB811.66m in the corresponding period of last year. The jump in profit was due largely to a one-off realisation of RMB130m interest income from the release of restricted cash deposit which reached maturity in the second quarter. Revenue during the quarter dropped 3.4% year-on-year to RMB4.27bn. Despite having nine vessels delivered in the second quarter compared to 11 a year ago, the shipbuilding revenue contribution decreased slightly by 3.2% year-on-year primarily due to the construction and delivery of the first batch of 10,000 teu containerships with higher contract prices. Yangzijiang said it is directing its attention into the shipbuilding and related business to capitalise on the upswing of the shipbuilding industry. The group has downsized its investment in held-to-maturity assets and disposed of non-core businesses such as real estate. “The shipping industry continues to be on a steady recovery track and we have observed that shipowners are enhancing their focus on vessels’ operational efficiencies,” said Ren Yuanlin, executive chairman of Yangzijiang. “This has led to a rise in demand among the shipping industry for vessels that are more complex and larger. Going forward, the group shall redirect focus and resources steadily from its non-shipbuilding businesses towards building on its core strength in shipbuilding to further benefit from the recovering shipping industry,” Ren said. In the first half of 2014, the privately-owned Chinese yard has secured a total of 32 effective shipbuilding contracts amounting to $1.4bn, including four 260,000 dwt bulkers, three 208,000 dwt bulkers and four 10,000 teu containerships. As at 30 June 2014, the group’s outstanding orderbook amounting to $5bn for 122 ships is expected to utilised the yard capacity until the end of 2016. http://www.seatrade-global.com/news/asia/yangzijiang-records-highest-quarterly-profit-of-$201m.html
Who said that ..... :-)
Keep your voice down Dave, we're all fast asleep here :-) ATB
Very tight spread, 0.80p to sell, 0.83p to buy. News please, seems an age since those heady days in February!
New Yangzi wins one Kamsarmax BC Published [ 2014-07-24 08:10 ] Jiangsu New Yangzi Shipbuilding of China scored a Kamsarmax bulker from Marshall Islands based Palinorio Shiptrade. According to IHS, the 82,000 dwt bulker is slated for delivery in October 2016. it will be classified by Lloyd’s Register (LR) and registered as Marshall Islands-flagged. Including the latest order, the orderbook for Kamsarmax bulkers in which the Chinese shipbuilder secures has increased to around 50 units. Their delivery date ranges from April 2015 to March 2017. source:asiasis.com
What cycle said!
A positive bearing yes, but it won't bring any revenue to AMED. Yangzijiang Shipbuilding holds shares in Yangzijiang Offshore just as AMED do. But any profit they get from the shipbuilding division doesn't financially help AMED. Once we get some similar news for the offshore division we'll be flying.
Yangzijiang Shipbuilding is an associated company though, to Yangzijiang Offshore Engineering, is my understanding, so the above contract wins of Y S would have atleast a positive bearing. The news of May 2014, mentions it's association, as follows; http://infopub.sgx.com/FileOpen/Announcement_Acq_YZJOE.ashx?App=Announcement&FileID=298536
I think that's because this order is for Yangzijiang Shipbuilding which AMED are not invested in. Amed is only invested in Yangzijiang Offshore Engineering Co Ltd which deals with offshore and not ships.
http://sinoshipnews.com/News/Yangzijiang-linked-with-$300m-Iranian-order/3w3c2861.html Awaiting confirmation
Possible$300Mill order from Iran, to ship their iron ore. You have to register to read all article, but if you read carefully, it suggests, order may be completed in next few weeks. http://online.wsj.com/articles/iran-aims-to-return-to-shipping-market-1405601871 Thanks to Napolean11 on Advfn
Fortescue Metals Group (FMG) is in talks to order four more VLOC bulker newbuildings, the company disclosed Wednesday. These latest ships are expected to be delivered in late 2017 and early 2018 with the majority of payments also due on delivery, it said. Last month Fortescue invested $275m on four VLOC newbuildings in China at a yard later to emerge as Yangzijiang Shipbuilding. Australia's third-biggest iron ore producer said it was in talks with an another Chinese shipyard to build the latest bulkers. Fortescue chief executive Nev Power said he expects the four additional ships to cost about the same as the agreement struck last month. The miner says its shipping strategy is to lock in construction of these VLOCs which are being designed to complement the port infrastructure to improve load rates, efficiencies and reduce operating costs. “Flexibility has been built into the ownership structure of these VLOCs which will allow Fortescue to explore alternative financing structures at a later date,” it said. “The investment will initially be funded by existing operating cash flows and due to the timing of cash payments, is not expected to impact Fortescue’s debt repayment strategy. Fortescue said it expects the operating cost of these vessels to be well below the current forward market rates for large capesize vessels. “This, together with expected through-put benefits and operational savings at the port, support the investment in these vessels,” it said. Once the eight ships are delivered they will transport about 12% of the total ore Fortescue ships through Australia’s Port Hedland. “There is a relatively limited fleet of these large vessels that are ideally suited for Port Hedland. They will form a core part of the trade between the Pilbara and Asia," Power added. http://www.tradewindsnews.com/shipsales/341042/FMG-eyes-more-VLOCs
Yangzijiang Shipbuilding has collected over $30m from the sale of non-core assets as it looks to tighten its focus on shipbuilding. Singapore-listed Yangzijiang, which has been criticized in the past for its diversification, has raised the bulk of the cash from the sale of its 50% stake in Wujiang Jinke Yangzi Real Estate Development. It tells investors its shares in the company have been cashed in for CNY 200m ($32.22m). A further CNY 10m has been secured for the shipbuilder’s 100% holding in metals trader Jiangsu Leyuan Innovation International. A third asset, Taixing Tongzhou Warehousing, has been disposed of in a CNY 500,000 trade. Yangzijiang says the sales come as part of its “strategy to redirect attention from the non-core businesses into the core shipbuilding and its related businesses”.
@ 0.95p. Have a great day.
Yep, I reckon someone is accumulating ... Happy to hold and wait for this one :-)
0.95p again + 900,000 at 0.95p after close. Getting closer everyday. Have a good night.
Another 1,000,000 buy , someone likes this price .. :-)