Ocean Wilsons Share Price (OCN)

Wilson & Sons also put out a new Institutional Presentation on 29th Jan !

Visit there website to view it.

The RG Terminal reached 61% Utilisation in 2024 (that's up from like 47% in 2023 if memory serves me correctly)

The Salvador terminal reached 91% Utilisation in 2024 (that's up from like 74% in 2023 if memory serves me correctly).

Clearly they will need to start filling in the back-area of the terminal to increase the capacity from 553K of TEU's per year to 924K.

LOTM

January's data is out! for Wilson & Sons

I wouldn't say either terminal had a spectacular month, quite a few cancellations especially at Salvador ( which has some nice early numbers in Feb!)

Yet having said that volume for the month was up from 95,600 TEU's to 125,400. An increase of 31.3% on Jan 2024.

Those utilisation rates are climbing fast (RG was up 45% on Jan 2024) so possibly headed for 80%+ in 2025.

Meaning profitability is markedly on the increase, unfortunately we're not going to be the ones reaping the rewards of it MSC will instead.

LOTM

Positive write-up but he didn't take into account the R$ issue, 7% loss of value over 7 weeks ! on sale price.

While he did a lot of work on the Investment portfolio, he failed to see that the portfolio has only increased by what was it 20% in 17 years!

The dividend data is incorrect maximum that can be issued is $22M per quarter & therefore the maximum amount OCN would receive is around $12M per quarter (thankfully that amount was priced in $ not R$).

The tender offer stuff is just rubbish, 50% of holders taking it up ! the 2 families control over 50% for goodness sake, a Material fact never mentioned in the whole document!

A counter off isn't coming SAS have already snapped up 12% of Wilson & Sons shares in the open market on the cheap.

LOTM

Pretty positive write up.

https://open.substack.com/pub/theoakbloke/p/ocean-wilson-idea-10?utm_source=share&utm_medium=android&r=yqi60

Hi All,

I'm not sure if anyone is really paying attention here any more or not ?

The preliminary November numbers are now out!

Tec RG = 87,000 TEU's against 65,300 that's up 3.2% on Nov23

Tec Sal = 48,800 TEU's against 35,300 that's up 38.1% on Nov23

Total year to date 1,243.8 against 971.4 that's up 28% on 2023

If you do the math's Tec Salvador's current capacity is around 550,000 TEU's a year, in other words its virtually at full capacity currently until the back area gets filled in (see latest presentation etc)

It is meant to have 2 new routes starting Manaus ( the 1st ship of which has just been cancelled which is annoying as it was meant to arrive in 3 days time).

COSCO which looks like it is going to start out fortnightly (this service has been running previously on an adhoc basis under the general "Tramp" route classification.

These additions will really stretch the terminal to its current limits in the month's ahead, which is great for profitability, just wait to you see the Tecon's Q4 numbers but sadly we won see any of it will we ! (unless the deal falls through)

Oh & the R$is now at over R$6.05 to the $ as opposed to R$5.66 on 18th Oct when used in the offer document, so the deal has already lost another 6%+ of its value in about 6 weeks.

The stupidity of these 2 families & the independent directors of OCN who signed off on this knows no bounds.

LOTM