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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 .
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 entirely agree . Spoke to the company about it and they are far from happy . I understand several initiatives are in hand to try and address share price . The strategy to reduce debt is spot on . It will turn but the London market as a whole is a disgrace and I see the likelihood of loads of companies just moving to us listing
Finance director doing a runner. He was the only full time director after Birt . Rats ……. sinking ship. New part time finance director based in London ???? Becoming a real one man band now as no one seems to be able to stay the course with him . What an opportunity missed as a great product
Impressed with ceo and the deal announced . Also showed a firm grip of what he wants to do . Like many appalled at antics of mms in London. I have a share that yesterday had approx £150000 buys and £5 k sells. No movement . In my time of working with four pms the current mob in both parties with their limited experience and brains would not have been selected as mps, yet alone appointed to sone of the highest offices of state. I am slowly investing more in us but of course it opens you to currency fluctuations and the tax deduction . However I fear for the future in uk . Rather than things can only get better, they could get a lot worse .
To raise that small amount of cash to last only till April is very strange . Particularly as big news between then and now seems unlikely given negatives re us set up and China slow. I wonder if it was because that was the most he was able to raise ? He needs professional help to get chains rather than individual outlets but obsessed with his high end mantra
Hi riverboy, and thank you . The traffic style has not changed ! Yea you are right, if voted down cannot go ahead . But Ed in presentations made clear he sees the company over a twenty to thirty year timeframe with possible investment in different ship types dependent on market . I am down like you but am in for the real long term and retain full confidence . But would still love a ride ….. after dividend reinvestment
I believe you have hit the nail on the head and the principle reason why I sold out at such a loss . He is just not transparent. I could be blunter but won’t be. Plus the turnover of directors and chairman would seem to indicate he is a very difficult person to work with . When I met the board last year I was very impressed with highly experienced chairman, who saw the company as a three project but suddenly left year project . Everything Burt told me in terms of actions and timescales did not come to pass . Bottom line, I lost all faith in him and left
I am becoming very negative about the Uk market and this sums it up . A well run company investing in a new state of the art facility , paying debt down at the same time , and reporting a 16 percent increase in profit …. But it’s not enough for the short term ism of what the city wanted so knocked down 25 percent . Well I see it as an opportunity and have accordingly added
Hi Mike , apologies if sending at that time disturbed you . Will try and avoid again . We are staying on koh Samui at fisherman’s village bophut . This is our fifth visit and love it . Thank you for the figures much appreciated. Re your buy out, whilst always a possibility I think unlikely for two reasons. To go public the way they did and then buy grindrod took a huge amount of time and effort legal wise etc so why go private now or in the next couple of years given the grindrod buy has made things even more complex to do . Secondly and perhaps more importantly Ed and the team are still young and VERY ambitious . They very much want to grow the business . Given the focus at the moment is very much on debt reduction and integrating grindrod I think as these are ‘completed’ we will see a real emphasis on strengthening the share price. The level of share buys verse sells if continues cannot keep the share price static indefinitely. Have a lovely weekend. Sent from poolside
Hi Mike, Krusty, thanks for your thoughts Mike. Yes the Marshall Islands was definitely family. I do not have my notes with me here . Can you remind me as to what figure you see as the average charter break even point ? I think the important thing is that debt is falling and economies coming through so we should be very near to that point. Rates are much higher than this time last year when as we know rates normally dip in the lead up to the Chinese new year. This year they are supported by Red Sea and Panama Canal events . Fingers crossed fundamentals are then stronger for rest of year . Regarding share price agreed but I must admit to increasingly become disillusioned by the Uk stock market . The various goings on by the mms are not impressive , not least with huge swings on very little turnover and prices going up sometimes when sells outnumber buys. In checking yesterday buys were plus £140,000 and sells £6000 and the price doesn’t move. Ridiculous but will still take it . The Uk has the higher divs and don’t have the tax we are charged on us divs but thinking seriously of putting more into dollar investments….. not least as I fear for the pound next year . A good days discussion chaps, interesting , informative and positive. Regards to riverboy as well .
Thanks Mike, am counting on you re the figures. You’re much better than me at that but even to my layman’s eyes they were much better than last quarter . Thailand lovely but awful cold/ cough so battling to lose both as quickly as possible
Thanks Mike, am counting on you re the figures. You’re much better than me at that but even to my layman’s eyes they were much better than last quarter . Thailand lovely but awful cold/ cough so battling to lose both as quickly as possible