Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Nice breakout from the 52w high. Go smartgrid!
Companies such as Ambient Corp. (OBB), Echelon Corp. (ELON) and Direct Energy, a unit of Centrica (CNA.LN) could benefit from the package.
Nice find, thanks for bringing that!
Like Dr. Fischer said during the Webinair that this may not be for everyone.
You say a lot of things that Dr. Fischer said.
Funny that.
IMO
Shipshape! Thanks...eom
CAT...Caterpillar...hit 'em when they're down.
...and boy are they down!
Wow, talk about the rise of the machines!
What's it all about, ALIF?
Yeah, thanks for chart basket! Perhaps we could highlight that to keep it handy?
Annual Report
Item 6. Management's Discussion and Analysis or Plan of Operations.
The net loss for 2008 was $48,249 or $0.05 per share, compared with a loss in 2007 of $44,033 or $0.05 per share.
No sales were recorded for the Company in the fiscal years 2008 and 2007, as a result of Bison selling its product lines in 1999.
The sale by Bison of its product lines in prior years has essentially rendered Bison inactive. The General Manager, Larry Martin, administers the corporate affairs of the Company and monitors residual business matters. During the fiscal year, the Company paid Mr. Martin $5,100 for these services. An office is maintained in Chanhassen, Minnesota, which is provided free of charge by Mr. Martin. An affiliate of Andus Inc., the majority shareholder, provides management and accounting services at no charge to the Company.
At October 31, 2008, the Company has income tax losses of approximately $1,837,500 available for carry forwards, which may be used to reduce future years' taxable income and for which the benefit has not been recorded. These losses expire between 2011 and 2023.
The Company has no means to generate revenue necessary to pay its obligations to regulatory bodies, directors, accountants and lawyers. In this regard, Andus Inc., the majority shareholder has committed to support the Company for its normal management and corporate expenses at levels of present expenditure until November 1, 2009.
Management continues to pursue other business opportunities for the Company including merger opportunities with other businesses which may result in a reverse-take-over of the Company. However, there is no guarantee that management will be successful in their endeavours.
http://biz.yahoo.com/e/090129/bsoi.ob10ksb.html
That would be conjecture.
Not enough information.
imo
Nice on the volume...this stock hasn't looked this busty for years.
imo
I'd like to see a bold move out of the .o4's here.
Run, Forest. RUN!
"Opportunity still knocks for shipping," says accountant
Tuesday, 20 January 2009
UK-based shipping accountant Moore Stephens says that, despite the current economic downturn, shipping is still a good business to be in, and that resourceful investors will find opportunities to expand, or to get back into shipping, over the next twelve months. Julian Wilkinson, head of the Moore Stephens shipping team, says, “Shipping enters 2009 with at least one certainty – the good times are over for now. The easy money has dried up, the old ships have been scrapped or are laid up and there are no prospects of markets going up any time soon. But, in a cyclical industry, sensible players make money whichever way the market moves. For many people in shipping, a sharp downturn in freight rates and ship values is the sound of opportunity knocking, rather than the prospect of a knockout.”
Writing in the firm’s Bottom Line newsletter, Mr Wilkinson explains, “Newbuilding order cancellations are growing quickly, so it is certain that some shipyards will never be built, and others will take a hit. Even the major yards are struggling with finance, and smaller yards trying to get into the market cannot secure guarantee finance. So although steel prices are falling, energy prices are falling, wage expectations are falling and interest rates are falling, it looks like a tough time for shipbuilders in general. The exception will be the major groups and yards in niche areas such as cruise ships, LNG and more complex vessels, which will emerge from the trough having seen lower cost competition die before it could grow.”
“Shipping banks are short of cash to lend and that doesn’t seem likely to change. Although shipping is still a solid big-ticket business, many banks that came into shipping in rosier times will not relish the workouts they will face in 2009, and will walk away. So we can expect to see fewer banks in shipping, lending more carefully, at higher margins and for shorter tenors. Shipowners who have been around for a while will recognise this as a good thing, especially as higher margins will be offset by lower interest rates as interbank rates come more into line with central bank rates.”
He continues: “Every sector will find cashflow a problem. Every sector will struggle with ship valuations and loan covenants. And, inevitably, there will be casualties. But look again and you can see why there is still considerable optimism amongst owners. The lower markets should rein in spiralling crew costs. Scrapping of old tonnage is increasing and will increase faster as the year progresses. And owners have made a lot of money in the last few years, so they are sitting on a lot of equity. Interest rates everywhere have plummeted. Put companies and newbuilding orders in trouble together in the same room as an owner with equity and access to low-rate finance and you see assets moving from an over- exposed and perhaps inefficient owner to a more prudent, solid operator.” “Yes,” concedes Mr Wilkinson, “2009 will be a rough ride for everyone. But those who watch their cashflow and who have not over-extended themselves in the boom, or who sold out before the peak (and there were a lot who did) will see this as a chance to expand, or to buy back into shipping. Whatever is happening in the world, shipping is still a good business to be in.”
Source: Maritime Global Net
http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=32750&Itemid=79
fyi...Morgan Stanley Said to Cancel Tanker for Oil Storage
Tuesday, 20 January 2009
Morgan Stanley scrapped a deal to hire a supertanker for storing crude oil in the Gulf of Mexico, two people familiar with the situation said. Traders for the bank canceled the booking today, the people said, declining to say why or be identified because the information is private. Bookings need to meet various conditions before they are binding. Carlos Melville, a London-based spokesman for Morgan Stanley, declined to comment. Banks and commodity traders are seeking new ways to make money after the Standard & Poor’s 500 Index fell by the most since 1937 last year and crude oil prices dropped more than $100 a barrel from their peak. Companies including Royal Dutch Shell Plc, Koch Industries Inc. and BP Plc are keeping enough crude at sea to supply the world for almost a day.
Frontline Ltd., the world’s biggest owner of supertankers, said Jan. 14 about 80 million barrels of crude oil are being stored in tankers, the most in 20 years.
Morgan Stanley had earlier agreed to pay $68,000 a day to rent the 2 million-barrel carrier Argenta, according to reports from Athens-based Optima Shipbrokers and Paris-based Barry Rogliano Salles. That works out at $1.02 a barrel a month for a 2 million-barrel consignment.
Benchmark U.S. oil futures are trading at an average of about $3.59 more than the previous month between February and June. For Brent, a benchmark European grade, the difference between the March contract and that for June averages about $1.64 a barrel a month.
The so-called contango pricing structure in oil has been caused by excess supply as demand slows and speculation that output cuts by the Organization of Petroleum Exporting Countries will reduce the glut later this year.
Phibro LLC, Citigroup’s commodities trading unit, has the 1 million-barrel carrier Ice Transporter stationed off north Scotland. Shell, Europe’s largest oil company, booked at least two supertankers.
Source: Alaric Nightingale, Bloomberg
http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=32815&Itemid=79
Interesting article along those lines I found on another board:
Morgan Stanley to secure supertanker to store crude oil
Saturday, 17 January 2009
Shipping brokers in Tokyo say that Morgan Stanley has joined a growing international scramble to secure an oil supertanker and use it to store millions of barrels of crude in what commodity dealers believe may be the “trade of the year”. The rush to snap up supertankers and profit from the huge “contango” spreads between the falling crude spot price and rising futures price comes amid dire warnings by analysts over the future of the wider shipping industry.
Massive overcapacity and slumping global trade are expected to trigger a second collapse in cargo rates, which already plunged nearly 94 per cent last year.
Exports from China, Taiwan, South Korea and Japan are falling fast and are expected to drop farther at a pace not seen since the early 1980s.
Sources throughout the Asian shipping sector say that, despite a recent rally in container and dry bulk rates, dozens of companies could go bust this year.
A spokesman for Nippon Yusen, the largest Japanese shipping line, predicted prolonged difficulties for cargo rates as the global economy falters.
But the efforts to play the so-called contango trade have unexpectedly raised tanker hire rates to about $75,000 a day.
Rough calculations by shipping brokers suggest that if a trader were to buy two million barrels of crude at today’s prices, insure them and store them for a month in the largest grade of supertanker at present charter rates, the buyer would be paying about $1.15 a barrel on top of today’s spot price of $35.50.
The crude futures price at the end of March stands about $8 higher than today’s spot price, and six months out the spread is more than $21 a barrel.
Shipping brokers in Tokyo told The Times that Morgan Stanley was “engaged in a serious bid for a supertanker”, but that it had not yet found the appropriate vessel at rates it was prepared to pay.
The same brokers said that, in addition to the commodities trading arm of Citigroup, at least two other Wall Street names had recently expressed interest in procuring a supertanker for use throughout the year as a giant floating oil container.
Oil traders and companies such as BP and Shell have begun snapping up more tanker capacity but, brokers said, the mathematical attractiveness of the trade is drawing interest from investors outside the industry.
Knockdown ship charter rates, along with the plunging global economic outlook, are responsible for the sudden interest in crude oil storage: Frontline, which owns the world’s largest fleet of supertankers, said yesterday that about 80 million barrels of crude are sitting in storage in the hulls of ships around the world.
Sources at one of the largest shipbuilding companies in Asia said that they were also starting to receive inquiries about ship conversions - turning unused bulk carriers into oil storage vessels - as more investors are drawn to playing the oil price contango.
A report published today by HSBC predicts an outright collapse of liner rates in 2009, and warns that operators will be forced to slash costs further merely to stay in business.
Demand growth for container shipping, Azura Shahrim, of HSBC, said, could sink to zero over the course of the year amid a meltdown of global trade.
A significant pressure on rates is the vast size of the global fleet - about 4,700 container ships and an order book for new vessels that would add about half as much capacity again over the next few years.
The five-stage payment structure of shipbuilding means that ships ordered for delivery between now and 2011 are unlikely to be cancelled and the relative youth of the fleet, of which just under half is less than ten years old, means that a sudden increase in scrapping is also improbable.
The renewed warnings of a big drop in shipping rates coincide with grim warnings from analysts over China’s immediate economic prospects.
Ben Simpfendorfer, China economist for Royal Bank of Scotland, said that the risks of a big decline in exports was growing and that the relatively small 2.8 per cent year-on-year drop last month “will shortly be overwhelmed by the sudden pullback in global demand”.
Source: Times Online
http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=32494&Itemid=79
Seaspan Declares Dividend of $0.475 Per Share for Fourth Quarter 2008
Friday January 16, 8:00 am ET
HONG KONG, CHINA--(MARKET WIRE)--Jan 16, 2009 -- Seaspan Corporation (NYSE:SSW - News) announced today that the Company's Board of Directors has declared a quarterly dividend of $0.475 for the three months ended December 31, 2008. The dividend will be paid on February 16, 2009 to all shareholders of record as of February 2, 2009.
For a further discussion of our existing capital obligations and our ability to pay dividends in the future, please see the Form 6-K for the quarter ending September 30, 2008, filed with the Securities and Exchange Commission on November 13, 2008.
About Seaspan
Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. Seaspan's contracted fleet of 68 containerships consists of 35 containerships in operation and 33 containerships to be delivered over approximately the next three years. Seaspan's operating fleet of 35 vessels has an average age of approximately five years and an average remaining charter period of approximately eight years. All of the 33 vessels to be delivered to Seaspan are already committed to long-term time charters averaging approximately 11 years in duration from delivery. Seaspan's customer base consists of seven of the world's largest, publicly traded liner companies, including China Shipping Container Lines, A.P. Moller-Maersk, Mitsui O.S.K. Lines, Hapag-Lloyd, COSCO Container Lines, K-Line and CSAV.
Seaspan's common shares are listed on the New York Stock Exchange under the symbol "SSW".
SSW...Seaspan
Seaspan Declares Dividend of $0.475 Per Share for Fourth Quarter 2008
Friday January 16, 8:00 am ET
HONG KONG, CHINA--(MARKET WIRE)--Jan 16, 2009 -- Seaspan Corporation (NYSE:SSW - News) announced today that the Company's Board of Directors has declared a quarterly dividend of $0.475 for the three months ended December 31, 2008. The dividend will be paid on February 16, 2009 to all shareholders of record as of February 2, 2009.
http://biz.yahoo.com/iw/090116/0466589.html
About Seaspan
Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. Seaspan's contracted fleet of 68 containerships consists of 35 containerships in operation and 33 containerships to be delivered over approximately the next three years. Seaspan's operating fleet of 35 vessels has an average age of approximately five years and an average remaining charter period of approximately eight years. All of the 33 vessels to be delivered to Seaspan are already committed to long-term time charters averaging approximately 11 years in duration from delivery. Seaspan's customer base consists of seven of the world's largest, publicly traded liner companies, including China Shipping Container Lines, A.P. Moller-Maersk, Mitsui O.S.K. Lines, Hapag-Lloyd, COSCO Container Lines, K-Line and CSAV.
Seaspan's common shares are listed on the New York Stock Exchange under the symbol "SSW".
Yep, another POS pink that sings songs about the otcbb to pump their stock up. That was 6 months ago. They haven't filed squat and it's back to a penny. Investors that bought their "uplisting" pr lost huge.
gl2y
$BDI...Baltic Dry Index (daily)
I just want to tell you guys I recently found this board and am really enjoying the expert analysis. I look forward to being able to contribute something here but for now am just reading back and learning tons about the shipping industry.
Thankfully, I now recognize the difference between capesized and capsized...so there's that, lol.
gl
ABTG...Ambient Corp
Yes, the company could post the archived recording available to them.
The recording feature usually available to participants was disabled.
E-mail Mr. Fischer and ask him.
Yes, sir. Yes, sir...
Three bags full!
LOL
Wow, that's a mitzvah! Thanks, printmail. Good that somebody still follows this number. Now we just need Obama to say "smart grid" a few more times.
imo
EXM...Excel Maritime...more ships, from Greece...20% divy, well below book...imo
PRGN...me likey dat too...growth at a ridiculously reasonable price(GARP) plus a 35% dividend...in flight mode,too...thanks for the input, keep 'em coming
EGLE, floating on that same wave...27% divy too!
GNK, same ting...23% divy!
gl
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31985646
MEA...Metalico
EGLE...Eagle Bulk Shipping
DRYS...Dry Ships
FWIW, I recall seeing his bio in a recent filing for WMNT, his other pubco
Bruce E. Fischer – Managing Director and Chief Executive Officer. Dr. Fischer joined Avalon Group Ltd, in 2001 as its Managing Director and continues to serve in such capacity with responsibilities for overseeing all aspects of its multi-national agricultural development business. Dr. Fischer co-founded Land and Sea Development Company in 1997; Land and Sea Development Foundation in 2003; Jasper Agro-Development SA in 999; TerraSolve Inc in 2000; Land and Sea Development LLC in 2003; US BioFuels Inc. in 2000; Thai-Tea Ltd in 2004; Israeli Agro-Investment Services Ltd in 2006; Negev Agro Inc in 2005; Negev Agro LP in 2005; Negev Agro 2 LP in 2006; GSF Ltd in 2003; Expedition Leaders Inc in 2003; Avalon International Inc in 2005 and Anviron Corporation in 2007. From March 2008 to present, Dr. Fischer has also served as the Managing Director of Anviron Holding Company, a publicly traded Company involved in the manufacturing of organic products for the agriculture industry. Dr. Fischer received a BS in Accounting and BS in Geology from Long Island University, where he also received his PhD in Environmental Engineering.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6282998#WMONT_PRE14C_HTM_DIRECTORS
gl
Happy New Years and
Kudos and boardmarks for your fine contributions here.
To lots of small gains in 2009!
Cheers!!!
So everytime I hit "favorites" I hear Seinfeld saying "what the hell is e-mail?"
Question:
How the hell do I turn this feature off???
It was funny once.
It wasn't funny five times.
tia
Dang, it's like evaporation!
So you are saying that the divy gets baked into the qoute? I've never heard of such. Perhaps Mr Scott was trying to suggest how the divy affects your per share cost basis. (subtract the divy from your original pps?)No matter.The stock opened lower because someone dropped a bunch of shares into the bid. Same as it ever was,imo.
I would agree that the divy changes the intrinsic value of each share, here it happens (has, is, and will) via dilution though. Fischer said the divy was in escrow (like all their deals,lol) but yet they are issuing unknown amounts of shares to unnamed parties for unspecified expansion deals. So if you reinvest the divy, it's like a do-it-yourself reverse split...quarterly at that! Did Fischer say what his divy payout would be every quarter? I wonder if he will he be reinvesting his cash at these severely depressed prices?
A spoonful of sugar,imo.
gl
Santy, But the date of record is not until Wed. 12/31. If someone sold their shares today, even though it is after the ex date, they would not be holders of record qualifying for the dividend. That's why I think they wanted to use the divy to stem the EOY sell off that most longs will be considering. There was a brief window after the divy announcement whereby a BAGholder could have dumped their shares for a tax write-off waited the mandatory month and bought back in with cheaper shares that qualify for the divy. Those playahs get both the tax write-off AND the divy. I think it's too late for that now, though. As I read it you'd have to hold until 1/1/09 to qualify for the divy. That 12/31 date of record is a bear trap (literally,lol.
IMO
Do what?!? Please post a link to the market force you are referring to that will be "subtracting the dividend from the SP" because me thinks you are leading the flock astray with bad info, perhaps unwittingly.
GL
Merry Christmas to all
And to all a good night!
It doesn't matter what they post, the market is closed. Go look again at 9:30am. You'll see what I mean.
gl
The market is closed. Last spread was .0065 x .007 at 3:59 when 50k went off at the bid. Most mm's turn off their quotation system, some don't though. There's a lot of green between here and .009 so please "remain high"
GL2y
Nope. I think it has to be requested in the paper form.
gl