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Box Ships Inc. (TEUFF)

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Moderator: powerbattles, Toxic Avenger, Hummingbird2
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Last Post: 5/19/2017 12:55:38 AM - Followers: 162 - Board type: Free - Posts Today: 0



(Former NYSE, Now OTCQX)

Company has sold off ALL ships. 

No filings since end of 2016

$25 million in preferred equity, plus accrued interest.

Past History

Company profile
Box Ships Inc. is an international shipping company specializing in the transportation of containers. Our vessels are trading worldwide in a multitude of trade routes. We are focused on maximizing shareholder value by maximizing returns on our investments while at the same time ensuring our vessels adhere to the highest safety and environmental standards.

We are a Marshall Islands registered company that was formed in May 2010. Our business strategy is focused on building and maintaining enduring relationships with charterers and providing reliable seaborne transportation services at competitive cost. We seek to create shareholder value by acquiring and operating modern container vessels and employing them in "period time charter" contracts. Mr. Michael Bodouroglou, our Chairman and Chief Executive Officer, has been active in shipping since 1976. Box Ships Inc. is fully committed to promoting openness, ethical conduct and integrity in all its dealings and has developed a 'code of business ethics and conduct' establishing rules and standards regarding behavior and performance.

Our executive offices are located in Voula, Athens, Greece. The company was listed on NYSE on  April 14, 2011. On November 17, 2015, the company was delisted from NYSE and on November 18, 2015 commenced trading on OTCQX International under the symbol "TEUFF".

We operate a fleet of modern and cost efficient container vessels servicing ports and Customers around the globe. Our goal is to continue to grow our fleet size over time to take advantage of the opportunities in our markets and meet our customers’ needs. Our long term fleet deployment strategy is designed to balance the stability of medium to long-term charter contracts. We believe that this strategy offers better opportunities and greater transparency of earnings. From time to time our management may adjust our fleet deployment strategy according to the prevailing and expected Container charter market conditions.

Our vessels are trading worldwide in a multitude of trade routes carrying containerized goods complying with the International Convention for Safe Containers.

Mission Statement
"To be a carrier which our customers can rely on, always offering a first class service with integrity, professionalism and transparency."

Box Ships Inc. – NYSE: TEUFF

Formed by Paragon Shipping Inc. (NASDAQ: PRGN) to invest in the containership industry. Paragon Shipping and CEO own approximately 11.0% and 16.6%1 of the Company, respectively.

Strong Management Team with over 79 years collective experience

Michael Bodouroglou, our Chairman, President and CEO has over 35 years experience in shipping. George Skrimizeas, our Chief Operating Officer, has 25 years experience in shipping.
Robert Perri, our Chief Financial Officer, has over 19 years experience in shipping and finance.

Current Fleet

9 containerships, average age of 9.9 years compared to industry average of 10.9 years.

Focus on mid-size segment. Fleet consists of vessels between 3,400 and 6,600 TEUs with total capacity of 43,925 TEU.

41% fixed employment for 2015. 



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Current Price
Bid Ask Day's Range
TEUFF News: Report of Foreign Issuer (6-k) 04/19/2017 04:32:04 PM
TEUFF News: Statement of Ownership (sc 13g) 04/06/2017 12:49:25 PM
TEUFF News: Amended Annual and Transition Report (foreign Private Issuer) (20-f/a) 03/16/2017 04:07:21 PM
TEUFF News: Annual and Transition Report (foreign Private Issuer) (20-f) 03/13/2017 04:58:51 PM
TEUFF News: Report of Foreign Issuer (6-k) 01/30/2017 04:32:47 PM
#24279  Sticky Note this is just my view but: munhoi 05/17/17 10:32:22 PM
#24095  Sticky Note Now we see why the company held off Toxic Avenger 03/14/17 04:04:41 PM
#24311   of the people that have voted I am munhoi 05/19/17 12:55:38 AM
#24310   you probably chose to receive everything by paper munhoi 05/19/17 12:47:33 AM
#24309   I got a proxy through snail mail redsky7 05/19/17 12:11:35 AM
#24308   Thanks! mcjodie 05/18/17 04:43:20 PM
#24307   look or an email or message from your munhoi 05/18/17 04:42:10 PM
#24306   How do I vote? mcjodie 05/18/17 04:21:29 PM
#24305   No, these things always go the way of Toxic Avenger 05/18/17 03:12:41 PM
#24304   Thanks to Stephen Chu. Hopefully, new set Hummingbird2 05/18/17 03:01:32 PM
#24303   They just called and I voted no. Won't matter. lovindollars 05/18/17 02:55:38 PM
#24302   have you voted NO on the electronic proxy munhoi 05/18/17 02:53:33 PM
#24301   The BOD is going to Reverse Split this lovindollars 05/18/17 02:36:22 PM
#24300   Stephen Chu the largest shareholder has proposed some munhoi 05/18/17 01:04:36 PM
#24299   yes, they have violated their fiduciary responsibility to shareholders. Hummingbird2 05/18/17 11:54:01 AM
#24298   Right, common still have equity since BK is Hummingbird2 05/18/17 11:51:24 AM
#24297   The company has no choices unless you know Toxic Avenger 05/18/17 11:39:09 AM
#24296   its a difficult situation that's why the share munhoi 05/18/17 11:05:10 AM
#24295   other than in a liquidation, there is no Toxic Avenger 05/18/17 10:31:08 AM
#24294   common equity has priority over preferred unless the munhoi 05/18/17 09:54:33 AM
#24293   The only option left is to rebuild by Hummingbird2 05/18/17 09:38:44 AM
#24292   Stockholder equity goes to the preferred shareholders first, Toxic Avenger 05/18/17 09:35:57 AM
#24291   Based on that 20F, common stock still have Hummingbird2 05/18/17 09:33:48 AM
#24290   Using toxic notes? Don't even think they can Toxic Avenger 05/18/17 09:21:59 AM
#24289   Yup, common stock is worthless given the preferred shares. Toxic Avenger 05/18/17 09:21:35 AM
#24288   They can lease ships to rebuild first. Hummingbird2 05/18/17 09:17:48 AM
#24287   Balance sheet was overstated due to overvalued ships Hummingbird2 05/18/17 09:15:21 AM
#24286   Unfortunately, it takes money to rebuild. Toxic Avenger 05/18/17 09:08:00 AM
#24285   Right, only option left is to rebuild. Hummingbird2 05/18/17 08:50:12 AM
#24284   There is nothing to liquidate ?????? Ominous 05/18/17 08:35:35 AM
#24283   As I pointed out, the book value was Toxic Avenger 05/18/17 08:25:06 AM
#24282   They aren't liquidating. They will rebuild in Hummingbird2 05/18/17 06:14:52 AM
#24281   You're right, Munhoi. Board moderator, please sticky Hummingbird2 05/18/17 06:12:55 AM
#24280   You talkin' about that other stock? CRAZY $$$$$$$ 05/18/17 12:08:25 AM
#24279   this is just my view but: munhoi 05/17/17 10:32:22 PM
#24278   OK, good luck. I suspect it will continue Toxic Avenger 05/17/17 07:33:34 PM
#24277   It could still trade many multiple times .084 Hummingbird2 05/17/17 07:22:49 PM
#24276   No, but the stock is worthless regardless. Toxic Avenger 05/17/17 06:54:15 PM
#24275   They are not in liquidation status. Hummingbird2 05/17/17 06:27:01 PM
#24274   in the published financials they have total assets Hummingbird2 05/17/17 06:25:56 PM
#24273   At this point, the common is worthless, as Toxic Avenger 05/17/17 06:19:10 PM
#24272   in the published financials they have total assets munhoi 05/17/17 06:06:30 PM
#24271   Completely forgot about existence of preferred here. Hummingbird2 05/17/17 05:58:10 PM
#24270   They have $122 million in preferred dividends due, Toxic Avenger 05/17/17 05:33:18 PM
#24269   So, that would work out to about $0.9265 Hummingbird2 05/17/17 05:14:15 PM
#24268   I meant Box Ships are owed as in munhoi 05/17/17 05:02:31 PM
#24267   Box Ships is per financials owed about $2.7 munhoi 05/17/17 10:04:30 AM
#24266   I will never buy foreign stock again, Greece mangano 05/16/17 06:28:29 PM
#24265   I have similar questions in the somewhat parallel carusso 05/16/17 05:00:09 PM
#24264   historically the CEO used BOX ships to charge munhoi 05/16/17 12:43:31 PM
#24263   It really makes no difference who is in Toxic Avenger 05/16/17 09:51:18 AM
#24262   the concern here is that the other 89% munhoi 05/16/17 09:47:14 AM