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OGISZ FINRA deleted symbol. Inactive security.
http://otce.finra.org/DLDeletions
OGISZ one for 6 reverse split:
http://otce.finra.org/DLSymbolNameChanges
OGISZ one for 6 reverse split:
http://otce.finra.org/DLSymbolNameChanges
OSGB: I have a conservative holding so I'm rooting for the company.
thoughts on future performance?
OGISZ moved to NYSE Amex. New ticker OSGB:
http://www.otcbb.com/asp/dailylist_detail.asp?d=10/08/2014&mkt_ctg=NON-OTCBB
Overseas Shipholding Group Inc., new ticker for new shares: OGISZ:
http://www.otcbb.com/asp/dailylist_detail.asp?d=08/07/2014&mkt_ctg=NON-OTCBB
OSGIQ: Finra deleted symbol. Bankruptcy Plan effective. Pursuant to the Plan, as of the Effective Date, all then-outstanding Old Overseas Shipholding Group Equity Interests shall automatically be deemed cancelled, retired and cease to exist. Deletion Time 8:22:36
http://www.otcbb.com/asp/dailylist_detail.asp?d=08/06/2014&mkt_ctg=NON-OTCBB
OSG Completes Financial Restructuring, Emerges from Chapter 11
NEW YORK — Overseas Shipholding Group, Inc. (“OSG” or the “Company”) today announced that it has emerged from Chapter 11 as a newly reorganized company. OSG emerges with a strong balance sheet, focused strategy and solid customer base.
Read more here: http://www.heraldonline.com/2014/08/05/6203941/osg-completes-financial-restructuring.html?sp=/100/773/385/#storylink=cpy
What's the word here? Anyone with any info?
Crickets chirping.....
Overseas Shipholding Group's reorgansation plan was approved today by a US bankruptcy judge in Delaware, some 20 months after it filed for Chapter 11 protection, an OSG official confirms.
OSGIQ: U3 Trading Halt - Extraordinary Event Halt
Trading is halted because FINRA has determined that an extraordinary event has occurred or is ongoing that has had a material effect on the market for the OTC Equity Security or the security underlying an OTC ADR or has caused or has the potential to cause major disruption to the marketplace or significant uncertainty in the settlement and clearance process.
http://www.otcbb.com/dynamic/marketwatch/mwsubhome.stm
Crude il is in dire need....and the prices are in an uptrend.....could we see a $10.00 pps .....im guess yes....any thoughts please reply!!
A merger would explain this uptrend from 5 to 7 in a short frame...
word on the street is merger....hoping a larger carrier bought them out...
Did anybody hear about a possible merger here?
The exact mechanism for this recovery should become clearer when the actual plan is filed, which, according to the Plan Support Agreement, will be March 7, 2014. Beyond that, we are unable to provide any more information. As we are counsel to the Official Committee of Unsecure Creditors, we cannot provide any legal advice
According to the Plan Support Agreement motion filed last Wednesday, the current plan proposal made by certain lenders and supported by the Debtors contemplates a recovery for existing OSG equity holders of approximately $61 million in the form of Reorganized OSG stock and/or Reorganized OSG warrants.
Re-read and agree.
Thanks big yank
Appreciate ur input
Read my post, I said it is not a good deal. Shareholders need an OEC.
Good deal? The plan term sheet if I'm not mistaken is $2/share equity. If anyone would like to point out the errors of my ways, please do so with some back up.
Ahmed,
POR is not out. The hearing to approve bidding procedures is scheduled for this week, 2/20 at 9:30AM.
There is a stalking horse bidder...but anything can happen at an auction.
Ilene
The term sheet has been released, the common shares won't be cancelled, but are not getting a good deal. Clearly senior creditors and management are attemting to steal the company. Hopefully, an OEC will be formed and get the shareholders a bigger piece of the pie.
The glut of assets vs. liabilities makes this at first blush to look oversold. Its quarterlies show marked improvement over the PY. All good, right?
However the S/P markdown from its pre-filing S/P in the $50 range is not extreme, the debt-in-abeyance is large and there is a pending tax liability of substantial magnitude. The chatter about assets sales sounds encouraging except for a few tidbits. First, this company has NO management after the rats left the ship (so to speak). But, wait, there's more.
Two asset cans make up the majority of the balance sheet. The petroleum tanker fleet is the largest, but least liquid. There is a ton of capacity in this sector, many newer ships and questions regarding demand as U.S. production rises for domestic consumption and scant refinery capacity exists to process more crude for international consumption. In a nutshell, there's lots of crude but not a lot of gasoline, and few places globally to which crude can be sent for conversion... and even that would suffer enormous transportation burdens since a heck of a lot less crude fits in a transport than refined RBOB. The Baaken pipeline only exacerbates this scenario, over time, as Canadian crude makes its way to Gulf refineries and places like Venezuela are left no place to send their petroleum for processing.
Then there is the second "can" in OSGI's fleet, the LNG tankers. This is a hot ticket. In 2 years. Until the Cheniere Sabine Pass plant comes onstream in late 2015, or later, there is little LNG available to fill up these ships and make them substantively profitable. Other nat gas producers now belatedly chasing the Cheniere initiative face years of permitting challenges and Draconian approval processes before they will have any LNG metric tonnage to move by ocean transport.
I think this company will surely survive and has a longterm favorable outlook, post-emergence. I might even buy some at that time. But I sense a big dilution coming, possibly even cancellation (despite the lipstick-on-a-pig shareholder's equity #'s) and then years of patience required before this ever returns to the $50's.
In the transport space, for now, I like Dryships better, but it will be a slow build, no fast money for investors.
JMHO.
I agree, anything can happen in Q town.
im not sure if I should buy, because the shares could be cancelled
If the plan of reorganization is not out and there is a possibility of current shares to be cancelled, why is everyone celebrating?
congrats to all OSGIQ longs
It's doing great. Took these long enough to set sail again imo.
Good call bud......nice Oct. rally........$$$
~ $OSGIQ ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
$OSGIQ has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~
For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~
What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~
To find other similar posts of "OSGIQ" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "OSGIQ": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=OSGIQ ~
Search Ihub for "OSGIQ" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=OSGIQ ~
For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~
Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~
c
~ $OSGIQ ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
$OSGIQ has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~
For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~
What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~
To find other similar posts of "OSGIQ" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "OSGIQ": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=OSGIQ ~
Search Ihub for "OSGIQ" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=OSGIQ ~
For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~
Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~
c
I agree, your wife is a lovely gal!!! Please say thank you.
Ilene
by the way my wife thinks you are a lovely woman!
how about that. my gal is so awesome.
My pleasure! Happy trading :)
will put back on radar.
very much appreciate your response
Hi again, Jehu. There are large shareholders working behind the scenes, but nothing has yet been formalized, or even requested of the court. I'm not sure what will happen ultimately, but when I first started talking to shareholders re an EC, the stock was at $3...so I'm not sure that Seeking Alpha had the best advice at the time. In the end, they may be right...too early to know how this will play out, IMHO.
Ilene
digging around this evening and stumbled across this board.. hope your business is growing.. we have visited before on the infamous wam*q board...
I have just started to read the court docks this evening..
have they found shareholders to form an EC yet?
last article I read in seeking alpha this was a dead duck.
thanking in advance...
http://pipeline.post-gazette.com/news/daily-headlines/25226-7-1-2013-analysis-shale-oil-storm-blows-u-s-tanker-trade-out-of-doldrums-the-low-down-on-radioactivity-and-shale-gas-development
Since February, the number of ships plying the route from crude-loading hubs in Houston and Corpus Christi to eastern Gulf Coast ports such as Beaumont, Texas and the Louisiana Offshore Oil Port (LOOP), has jumped to six from one. Daily rates for those ships have risen 50 percent over the past year to historic highs, boosting profits for operators such as Crowley Maritime Corp and Overseas Shipholding Group (OSGIQ.PK)…
Looking for shareholders interested in unlocking the value proposition here. Please contact me if you're interested in an equity committee. (ileneslatko@gmail.com) or on FB Delaware Shareholder Services
Thanks!
Ilene
Looking for a breakout here !
OSGIQ
Anyone short this company? How the heck is it at $3.30 a share?? Bankruptcy
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