Member Info for sam4224

Mike thanks . I am visiting the company in January which I am looking forward to . Rates again really firmed again today which is excellent . The sad thing is people these days want an instant return . I see this as a long term play with a young ambitious company and board . As I have said before , how many two year old companies buy out a 100 plus years one . In the meantime the dividends are excellent so one can choose to reinvest or take income. Spk soon Sam ps and Taylor results getting nearer

Hi all , initial look at figures indicates charter rates slowly improving but still low . The positives are reduced costs, reduced debt , but probably most importantly the number of days locked in at very good rates for q4 . Mike, I recall you previously mentioned what you thought there breakeven daily charter rate was for handysize and ultra . Can you advise ? Regards to all

Hi Mike, you are better in interpreting the numbers than I am so will look forward to your analysis. Fingers crossed !

Hi all, latest dividend in which I am reinvesting . Re your figures Mike , hopefully economies of scale now working through and may help the figures . Also in the short existence of the company Taylor’s have beaten the bshi every quarter so fingers crossed grindrod have as well . If not I will hop up the coast and berate them ! But seriously also hope for a share price improvement as never nice to nurse a bad loss even if it is only a paper one. Bst rgds to all

Really good thanks Mike . South Africa gets a bad press in Uk but we feel safer here than London these days. Fantastic food,wine , friendly people , and wonderful scenery . Staying at the moment in Paarl .As an example of kindness , the owner of the guest house we are staying with took us for a four hour drive up in the mountains in his land rover . Sone of the best scenery I have ever seen , including USA and Aus. Fingers crossed for a further index rose today . Speak soon I am sure

Finally charter rates having a nice rise today and the share price starting to respond

Results 28 November . Not so imminent lol

Results imminent Mike

Hi , I am not going to deny I am far from happy with the share price . But I have seen a lot of other companies selling their older ships so it isn’t unusual . Also it has one new ship on order . I am hoping that they get to a level of ship holding that is the best for economies of scale and size of fleet . The three listings are a heavy cost . I hope they will address that . Next results very important and indeed those of Grindrod which are due imminently. I must admit I am still adding but will breathe a lot easier when the share price starts to strengthen .

Hi a valid point but at the moment second high prices are very high so a good time to capitalise selling older Chinese ships . In fact a number of the larger ship owners at the moment are doing the same . Anything that lowers debt and average daily charter rate a move in the right direction

Thanks Mike, also I saw grindrod results due next week

Sold another four cases .

Hi Mike, fully agree with your thoughts . Recent board meeting in South Africa. Focus of the company is very much on getting the combined daily charter breakeven point lower through paying down debt etc etc. As mentioned I bought more today and will reinvest the dividend to reduce my average price. Off on holiday to South Africa for a month so am going to try and resist looking too much .... but will invariably fail .

Just seen a couple of other company sites. All moaning that their buys this morning are being listed as sells. Hardly encourages the London market !

I have made a few purchases this morning, including here, ALL have been listed as sells. VERY annoying

Very positive research note out by cavendish. Supports what I felt all along were sound financial foundations . Worth a read

Made two purchases this morning here …. But both showing as sells. A tad annoying

Hi , personally I see it as an opportunity . Expensive debt is being paid down , economies of scale are coming through . Three listings are not cheap but think they will in time address that . I am waiting for sone money to clear which hopefully will happen tomorrow and then buy sone more . Plus reinvest the dividend later this month . At the moment the market is all over the place . I have a couple of companies that are doing well but the share price has fallen for no clear reason and resulted in a dividend approaching 20 per cent ! On this occasion I am following warren buffets advice. Buy when others are selling . But it takes guts and faith ….. which I believe is not misplaced .

No . It was one of the directors

The figures in the presentation re sales units to break even don’t add up against the increase in major clients they want . Huge time wasted on local production that now isn’t happening . THE major target at the last agm . Given this company has been going more than a decade and used up a load of cash it continues to be the ego trip of the ceo rather than hard commercial practise . You can be exclusive as you want but you have to get economies of scale . The last dodo was exclusive . As the Chinese money is used up so it ends its time in the last chance saloon