Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
drip feeding these into a low risk portfolio for 6 months now. Quality shipping outfit with a stack of top notch blue chip investments has stopped for a breather. Thanks to cadbury for the succinct summing up - pushing at an open door with me! GL holders, spectators.
Ok, it's time to buy OCN. At £9.00 you're getting the Wilson Sons Brazilian shipping business at a cyclical trough AND you get the investment book, valued at £4.00 a share, in for 'free'. The risks are: that the Petrobras corruption scandal affects Wilson Sons directly (it hasn't yet); that oil price has further to fall, and that Brazilian Real will continue to deval further as the Brazilian economy continues to falter. On the positive side, it's difficult to imagine sentiment being much worse with respect to Brazil, and its oil and gas industry in particular; the investment book should have performed well for yet another year (US equities are largest weighting); and everyone agrees this is a fine, well-run business with a fantastic long-term track-record. Buy.
3% fall today mainly due to going Ex Divi of 60 cents a share
What I like about Petrobras is that, since they have a strong "Buy Brasilian" ruling (imposed by government) they have to buy from Wilsons and since they are used to paying top dollar for everything due to the BB rule above they will pay top dollar for these ships and their operation. Talk about the milk cow that keeps on giving.
of big buys this morning keeping up a gentle momentum
Despite today's rise - still a big 40% discount to market value of their underlying assets which is disappointing. Decent dividend c.2.5% yield. A great share for the longer term as Brazil's growth continues but I do hope that the company does something to narrow the implied discount.....e.g. start buying back shares or issuing bigger dividends to demonstrate the disproportionate value on offer to us minority shareholders.
Ocean Wilsons Holdings said its Brazilian subsidiary had secured money to build 12 new tugboats for its fleet. The firm said its subsidiary, Saveiros Camuyrano Serviços Marítimos, had signed up for $135m of financing from Banco do Brasil. The 12 tugboats, which are to be fitted with azimuth thrusters, will be built in Wilson Sons' shipyard and are expected to be delivered by the end of 2016. "This is part of the company's strategy to increase and renew its fleet in order to meet the demand driven by growth in the oil and gas industry and international trade flow," the firm said. The move would "ensure competitiveness in the expansion of our towage operations", it added.
Ocean Wilsons Holdings Ltd. (OCN) Director name: Mr Chris Townsend Amount purchased: 2,500 @ 973.00p Value: £24,325
Ocean Wilsons Holdings tanked in early morning trade on Monday following a profit warning delivered in a third-quarter update. The company, which controls a Brazilian maritime services and logistics company known as Wilson Sons, as well as an investment portfolio said "profit for the full year may fall significantly short of current market forecasts". Consensus estimates for the full year ending 31st December had been for revenues of £441.76m and pre-tax profits of £51.4m. Wilson Sons' revenue for the nine months ended September 30th at $468.6m was 10% down on the previous nine months, which it blamed on the devaluation of the Brazilian Real against the US dollar. Operating profit for the period plummeted by 29% to $55.8m, hit by lower revenues, as well as higher employee and depreciation expenses. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the period at Wilson Sons was $105.6m (2011: $120.9m). Wilsons Sons adjusted EBITDA (excluding the share based payment expense) for the period was $107.9m (2011: $113.2m). Capital expenditure for the nine months of $135.6m (2011: $191.9m) was spent principally on the expansion of Tecon Salvador, the new Guarujá shipyard and vessel construction. At September 30th, Wilson Sons' borrowings (including obligations under finance leases) was $549.1m (December 31st 2011: $491.1m) of which $504.5m is non-current. At October 31st, the investment portfolio including cash under management amounted to $233.6m. The investment portfolio represents $6.61 (£4.09) per Ocean Wilsons share.
Ocean Wilsons: Seymour Pierce keeps buy rating and 1,670p target.
Capital expenditure for the nine months of US$135.6 million (2011: US$191.9 million) was spent principally on the expansion of Tecon Salvador, the new Guarujá shipyard and vessel construction. At 30 September 2012 Wilson Sons' borrowings (including obligations under finance leases) was US$549.1 million (31 December 2011: US$491.1 million) of which US$504.5 million is non-current. Historically the second half of the year is stronger in terms of performance and results for our Brazilian businesses. However, the uncertain economic environment and currency movements may still adversely impact the Group's full year results. These factors, combined with the Group's performance for the nine months ended 30 September 2012, means that it is likely that the outcome in terms of profit for the full year may fall significantly short of current market forecasts. Wilson Sons announced today to the São Paulo Stock exchange and Luxembourg Stock Exchange its results for the third quarter ended 30 September 2012. Their full announcement is available on the Wilson Sons website (www.wilsonsons.com.br) and at the Brazilian and Luxembourg websites. Investment Portfolio At 31 October 2012 the investment portfolio including cash under management amounted to US$233.6 million. The investment portfolio represents US$6.61 (£4.09) per Ocean Wilsons share. Wilson Sons Limited valuation At the close of business on 1 November 2012 the Wilsons Sons share price was 29.00 Brazilian Reais, resulting in a market value for the Ocean Wilsons 58.25% holding in Wilson Sons of approximately US$589 million which is equivalent to US$16.73 (£10.36) per Ocean Wilsons share. Shareholders should be aware that in addition to Wilson Sons and the investment portfolio the Group has other assets and liabilities on its balance sheet. In the opinion of the Directors the net impact of these items would not have a material effect on the valuation of the business.
CONT Revenues from port terminals were negatively impacted by currency depreciation and reduced rice and frozen cargo volumes, shipyard activities by currency depreciation, and logistics by the discontinuation of certain dedicated operations. However, revenue from our towage, offshore and ship agency businesses increased. Towage revenue benefitted from improved pricing and sales mix. Growth in our offshore business was driven by our larger vessel fleet. All the Group's sales are derived from our Brazilian operations held through Wilson Sons. Operating profit for the nine months at Wilson Sons was 29% lower at US$55.8 million (2011: US$78.5 million. Operating profit was adversely impacted by lower revenue, higher employee and depreciation expenses. Total operating costs and expenses for the nine months were 7% lower at US$412.8 million (2011: US$445.4 million) principally due to the devaluation of the Brazilian Real although depreciation and amortisation for the period increased 18% to US$49.8 million from US$42.3 million for the comparative period in 2011 reflecting the investment undertaken by the Group in recent years. Employee expenses increased US$5.3 million to US$182.3 million (2011: US$177.0 million) reflecting the higher average headcount during the period and higher share based payment expense. The Wilson Sons Limited share based payment expense for the period was US$10.0 million higher at US$2.3 million (2012 :US$7.7 million credit) EBITDA for the period at Wilson Sons was US$105.6 million (2011: US$120.9 million). Wilsons Sons adjusted EBITDA (excluding the share based payment expense) for the period was US$107.9 million (2011: US$113.2 million)
12 November 2012 Ocean Wilsons Holdings Limited Interim Management statement Ocean Wilsons Holdings Limited today announces its interim management statement in accordance with the UK Listing Authority's Disclosure and Transparency rules. Our Operations Ocean Wilsons Holdings Limited ("Ocean Wilsons") is a Bermudian investment holding company which through its subsidiaries controls a maritime services and logistics company in Brazil (Wilson Sons Limited) and an investment portfolio. Results Results for Wilson Sons Limited ("Wilson Sons") for the third quarter of 2012 demonstrate that, whilst overall revenues have been significantly negatively impacted, EBITDA and EBIT has proved very resilient and Wilson Sons continues to produce strong operating cashflow. Wilson Sons' revenue for the nine months ended 30 September 2012 at US$ 468.6 million was 10% lower than the comparative period in 2011 (US$521.2 million), principally due to the devaluation of the Brazilian Real against the US Dollar. The average exchange rate for the nine months ended 30 September 2012 was 1.92 compared with 1.63 for the comparative period in 2011. Approximately 65% of the Groups' revenue is denominated in Brazilian Real. Operating costs at our Brazilian maritime subsidiaries, where all the Groups' revenue arise, were also lower as approximately 90% of their operating costs (excluding depreciation) are denominated in Brazilian Real.
This company is for the long term investor in Brazil. Shareholders should also watch Hansa Investment Trust which owns 40 percent
Share price up 15%+ at 1108 this morning after being tipped last night on The Motley Fools share of the month - out of favour and undervalued.
Hi Pip (aka Collette), you seem to be the only one posting messages re ocn. I hold these shares, but am new to share chat. How do you see the future for them. I got a bit worried recently when they dropped to 11.40, and am pleased to see the recent slow recovery. What do you think? My name is Pete I would love to hear from you. Am I doing this share chat thing thing right? Please let me know. Pete
This is approaching long term trendline ....... Lost an old email account and had to register a new LSE user name, surprised no ones been here since. Pip aka Collette
Dividend Declaration Tue, 23rd Feb 2010 08:08 RNS Number : 5305H Ocean Wilsons Holdings Ld 23 February 2010 ? OCEAN WILSONS HOLDINGS LIMITED Dividend declaration The Board of Ocean Wilsons Holdings Limited intends to pay a second interim dividend of 38 cents per share for the year ended 31 December 2009 on the 26 March 2010 to shareholders whose names appear on the register at the close of business on 5 March 2010. This dividend replaces the Final Dividend normally declared at the Annual General Meeting in April. For those shareholders receiving dividends in Sterling the US dollar dividend will be converted by reference to the exchange rate applicable to the US Dollar on the dividend record date. The total dividend for the year of 42 cents per share (2008: 30 cents per share) represents a 40% increase over 2008.
From Investors Chronicle • Ocean Wilsons is a brilliant way of buying into the Brazilian story at a reasonable price. This London listed vehicle has two major assets, the first is a dominant shareholding in the highly regarded local Brazilian infrastructure and marine services firm Wilson & Sons plus there's also a massive wad of cash and market investments sitting on the balance sheet as an added extra. Wilsons could be a big beneficiary - via its tugs division - of the massive investment by Petrobras in its deep-water fields.