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FIL Limited seem to sold out, now down to 0.08% from previous notification of 5.42%
Yes indeed Krusty.
I saw that Sam, presumably it confirms your posts of 27 Feb? Good that it's now cleared.
Morning Krusty , TR 1 issued . Dividend payment today .
International Shipping News 28/02/2024
The Baltic Exchange’s dry bulk sea freight index extended gains for an eighth straight session to touch 1-1/2 month peak on Tuesday, buoyed by climbing rates across all segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 28 points, or 1.5%, at 1,899 points, its highest since Jan. 8.
The capesize index gained 61 points, or 1.9%, to 3,224.
Average daily earnings for capesize vessels ATCA, which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $504 to $26,737.
Iron ore futures rebounded, supported by hopes of demand recovery in top consumer China and a potential export tax on Indian low-grade iron ore, although lower steel production in the near-term capped gains.
The panamax index gained for the first time in five sessions, adding 3 points to 1,581 points.
Average daily earnings for panamax vessels, which usually carries about 60,000-70,000 tons of coal or grain cargo, was up $24 at $14,225.
Among smaller vessels, the supramax index rose for a tenth straight session, gaining 22 points to 1,220 points.https://www.hellenicshippingnews.com/baltic-index-hits-over-1-month-high-on-sturdy-vessel-rates/
Bought a few times in the past 2 weeks to open a small position here. Looks like an attractive buy in price and adds a bit more diversity to my PF.
GLA
Def completed . Not sure re re 1 krusty
Hope you're right Sam, that would be a big boost to this share. Do you think we're likely to see a TR-1 confirmation?
Big American seller is now finished . Share price held up remarkably well almost certainly because futures are so strong
Sam, yes-the BHSI is now up 6 days in a row and surprisingly good economic numbers out of China now that their New Year festivities are over.
We still need this to continue rising to secure the next dividend intact and paid for fully out of profits rather than partly out of vessel sales.
Nice steady movement upwards in rates. Genco shipping just announced pleasing results. Both events encouraging for Taylor’s next results
The London market has become a disgrace . Certainly the politicians carry much of the blame. I foresee more and more companies moving there listings to the US and elsewhere . I could even see that happening here . Priorities of the company at present are 1. Reduce debt. 2. Maintain dividend at current rate. Abd 3. Address share price. In my humble opinion there is no way the share price wil stay at these levels . The family have too much invested at much higher levels . I continue to buy but like you am disgusted at the antics of the mms
Well today yet another deeply frustrating day, under £4k sold and £10.39k bought equals 3% cut in SP? When we have suggestions that smaller ship rates could strengthen due to geo political issues, I just don’t get it and for sure don’t understand what the MMs are attempting to do here?
Cannot access it all but today’s article says bulker rates for smaller bulkers such as handysize to strengthen due to geo political tensions and changing trading patterns as a result . Let’s hope so
Thanks Mike, your info explains it . I was only looking at sterling trades . Senior moment ! Overall up on l and g with the dividends but showing a loss in paper but that one will def come back , have a great weekend .
Hi sam, hope you are right.
On the LSE TMI site for yesterday 9th Februsry there are 9 share trades shown. It is the second trade of the day, time 09.15.33, trade price 0.82c,volume 4,750,000, sell, bid 0.81,ask 0.84, value 4m.
Yes, LGEN heading south again but it is still up for me with an 8% + dividend.
Enjoy the next 17 days.
Hi Mike , def bhsi to rise hopefully but think they will move heaven and earth to avoid a div cut . I can t see the sale you refer to anywhere , either on lse trades or this is money website who are normally quite good re transactions . Where did you see it ? Thanks for info . Will def follow that up as now even l and g is falling and this is well before an election . Return to uk feb 27 .
Sam, we have had one massive 4.75 million TMI share sale today which is 1.4% of the total issued shares which shows how nervous this is. I agree the management want to remain committed to the dividend but it remains on a knife-edge so we do need a good recovery in the BHSI before the end of this quarter otherwise...
If you want a low maintenance international fund go for Fidelity World Index it has very low charges and invests in shares 65% in US/6% Japan//4% UK/25% others. in the last 12 months the return is 12.76%, 6 months 11.16% and 3 months 10.51%.DYOR.
Hi Mike , yes we are and loving it now after arriving with dire colds and coughs . Management priorities I believe are 1. Continue to reduce debt , 2. Make dividend absolutely gold plated and 3. Simplify corporate structure. I am beginning to view this as very much a work in progress so continue to build . Will be interesting to see what they achieve in 2024. Thank you so much for your comments re other markets . Will review as have decided to move more funds off shore as effectively lost confidence in uk market .
...wow, you are still in Koh Samui!
Yes, the BHSI index as of yesterday was 570, down,35.15% YTD so we really need that expected post -Chinese New Year bounce. I agree on the listings as potential cost savings but that appears to but lower down on the managements priorities.
For these exotic locations I always do funds rather than individual companies to spread and cut the risk. For India I would recommend Jupiter India X accum (up 55% over 12 months/36% over 6 months /21% over 3 months ) for Japan where the central Bank Rate is still zero I have Vanguard Japan Stock Index accum (up 12% over 12months/9% over 6 months/10% over 3 months) both available on your HL platform. There are a few investment trusts investing in Vietnam that you might consider.
Hi all, Hellenic shipping have reported indexes traditionally fall in run up to Chinese new year , this year on the 10th of this month. But that rates in the build up to this date have been higher than in previous years. Hopefully this will lead to a stronger rebound post new year with all the uncertainty surrounding shipping be in Panama Canal or Red Sea etc. Being away I dont t have the latest figure on daily break even figure which I believe was mentioned in a company presentation fairly recently. It is definitely going down though . The other key issue for me is the corporate model which at present with three listings is complex and expensive in the extreme. Whilst focus to date post acquisitionhas been on debt reduction I am confident that the company will move to simplify this, notwithstanding this is a complex thing to do given the Singapore listing . Mike, yes l and g also good for me. Upon return am going to study India and Vietnam in more deal . Re India are you in individual companies or a fund ? Grateful names if possible. Good luck all .
Https://www.hellenicshippingnews.com/baltic-index-falls-for-second-straight-session-on-softer-capesize-rates/
(Although it does state "Among smaller vessels, the supramax index gained 3 points at 1,050 points.")
I agree good points from Krusty.
I am worried at the moment but let us see what happens in 2 weeks when the Chinese New Year is over ower, should head north then.
Likewise most of my UK shares have underperformed aside or RR and LGEN in the last 12 months but funds doing better particularly technology driven by AI and US but also check out India and Japan funds. I still fancy bonds doing well in a reducing interest rate environment.
If you have any views or bright ideas
please share!
Morning Krusty , good points and esp given company determined to address share price. Will be nice if I can reinvest the dividend at that price . Last year stock market was not good for me and started off that way again . One exception is hvivo and my us shares . Have a great day
I wouldn't worry too much about the whole "buys vs sells" stuff tbh. If you're a trader it's vital information but for long-term investors it's irrelevant. The bid has held at 66 pretty much constantly the whole calendar year so far, today we're XD & it's now at 65 so not too bad all in all. GLA