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This is a real bargain, just added some more today. If someone wanted to buy 5 large container ships (I guess there aren't many such people) then it would so much cheaper to buy this company than to buy ships in the open market. Could this company be viewed as a ship rental company, sort of like a car rental company with 5 cars and arranging 1 year rental arrangements? I quite like it that the boss is female too, as some think that too many men at the top added to excessive risks in the global economy in recent years. I think the shares are worth approximately 130p maybe more, don't intend to sell for a couple of years until there are higher than this.
And no you're not missing anything here only by not buying in that is ;). These are still way undervalued in my opinion and not just mine it seems, some bloke I met down the pub Charles Stanley has a price target of 129p. Trading well below NAV like haleb mentioned, not just that but all UK listed shipping companies are significantly discounted when compared with their US counterparts. Iv read a few comments on III but don't let talk of delisting or the company being taken private scare you. Most likely would be for HCL to seek a US listing so the share is valued fairly. Just look a GLBS, delists next week for similar reasons and the SP hardly dented, just like the Hellenic Sea which I believe has been patched up now :)
I've just bought some. The fundamentals look great, the management seem good as they have reduced debt and are investing in new ships for the future. Wish I had got in earlier at a lower price. Am I missing something here?
If I had the money I would buy this company and asset strip it. At these prices you can see why the directors are worried, even if someone got the shares at 120, they would make a killing,
Look pretty decent to me, nice to see the SP responding positively! Should see a continued rise up till ex div on the 15th. and beyond hopefully, still undervalued in my honourable opinion :) http://www.investegate.co.uk/Article.aspx?id=201009060700051670S
You echo my sympathies.
Lets hope its not!! Good post TD, although this is just what we didn't need at the moment. This situation is getting faintly ridiculous can anything else happen to further undervalue this share?? In fact scrub that!, wouldn't like to tempt fate Seeing as the MMs have taken this down 15% I can only see this as another opportunity to top up, which I have done albeit with minimal funds. Local river pilots ?? pirates more like!
20 July 2010  Hellenic Carriers Limited Press Release 20 July 2010 M/V Hellenic Sea incident Hellenic Carriers Limited, ("Hellenic" or the "Company") (AIM:HCL), an international provider of marine transportation services for dry bulk cargoes, reports that during the weekend the laden Panamax Bulk Carrier M/V 'Hellenic Sea', whilst navigating through an Amazon river passage, assisted by local river Pilots, was required to undertake manoeuvres in order to avoid a potential collision with an oncoming vessel and sustained hull damage after coming in contact with an unknown underwater object. As a result of this incident there was water ingress limited to some of the forward compartments of the ship. The vessel remains in the vicinity of the incident and a specialist salvors' team has been appointed to assess the extent and nature of the damage sustained and the necessary repairs. No injuries, nor pollution to the local environment have been reported. The Owners of the vessel have Hull and Machinery and Protection and Indemnity insurances in place. At the time of the incident the vessel was operating under a time charter at a gross rate of US $23,300 per day for a period of 11-13 months, which commenced in May 2010. ENDS For further information please contact:
Cannot comment on your post, do not know enough to have an opinion. However, in yesterdays S Times a full page article on "Shipping index down 50%". "The freight market has collapsed to levels where even operating costs are not covered." So this does not sound promising.
In the light of Globus Maritime seeking shareholder approval to delist from AIM, surely there must be serious concerns as to HCLs position going forward. What are peoples thoughts on this, GLBS stated they felt the listing on AIM was unhelpful as the SP priced the company at well below NAV. Excuse the pun but are we not in the same boat here? Globus are seaking admission to the US market so could HCL follow suit, or will it be taken back into private ownership? Most importantly though, what of the small PI's investment?? :O
Yes, I would have expected a rise, but maybe the market needs a bit more time to digest the full meaning. It is just a fact that, hang on in there till times get better. GL.
Yeah pity theres no 50% rise in the SP to compliment it :D . Might have to revise my forecasts, like you said global markets looking shaky, choppy waters ahead?
Good call on your part. Credit where credit is due.
As I posted before modernising the fleet appears to be the strategy. In vogue at the moment, GPRT have just called an RI to purchase a new vessel.
Two KAMSARMAX vessels. Sorry not sure how to post link. Found on "investEgate" web site.
Company to issue orders for two new ships to be delivered in Jan and March 2013 with an option on a third vessel.
Not to much to worry over. Competition for business still high; and trading levels relatively low. The difference in rates is not excessive all things considered. World economics not great and future unknown especially here in Europe. Hang on in there.
Did not expect to say that panamax rates are now lower than they were this time last year. http://www.dryships.com/pages/report.asp
I think we are on a similar wavelength but a differing strategy. But I still believe we will see a prosperous future whichever way things go.
Well not as enthusiastic as me thats for sure, no you've got a point. Im just comparing to what happened with Globus, at one point they were down to 2 ships and it looked liked they were winding up. It was then that the real shareholder value became apparent and broker targets were raised. Since then they've aquired 2 new vessels and the SP has doubled. Maybe wishful thinking for a similar outcome here, but Im trusting that the management know what they're doing .As the RNS states "with this sale HCL initiates its fleet renewal programme" I believe that its not all about debt, and we will see new ships as future strategy dictates perhaps operating in a reduced fleet
I am not so enthusiastic about this. The fleet of ships they have are not overly old anyway. Pannamax are very much a vessel to have and as they say the proceeds will pay off debt. Less debt is of course a good thing, but it shows me how much pressure they are presently under with the prevailing financial status of world trade. GL anyway, I continue to hold.
Thats due North, 1pound minimum!
Slick bit of business here, well they've got more than they paid for it. Looks like they're setting about reconfiguring their fleet, a la GLBS. Expect some brand spanking new vessals shortly. This SPs only going one way from here! http://www.hellenic-carriers.com/files/hc_08_06_10.pdf
DO NOT OPEN THIS LINK, IT HAS A VIRUS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! PLEASE DO NOT OPEN
To understand what has happened to dry bulk shipping over the last 18 months, and particularly the Panamax class, check the Panamax chart on the link http://investmenttools.com/futures/baltic_capesize_index__baltic_handymax_index__baltic_panamax_index.htm