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Xanadu,
Thats a great posting regarding ITCL now the big questions do i buy more or stay put where i am. Do you like ITCL or do you Love ITCL. That is the question my freind. Remember William Shakespere quoted the famous line. Alas ITCL i knew them well?
There you have it now what is the verdict.... On American TV Channel "TruTV" there is a show about small oil companies in texas and them drilling from Land Rigs in West Texas. Its called Black Gold. Its also on the TNT network. Its great if you get a chance watch it.... They also made a reference to MUD which is the drilling lubricant you mentioned.. If you cant get this show let me know and i will send it to you..
Thanks Buddy,
Joe
So Oswald didnt really kill Kennedy ?
Xanadu,
I know exactly what your saying. Seadrill on the one hand is in a wide open sector that is rapidly growing and with that more competition from various players. It is already past starting gate and just starting to reach its stride. Dockwise is such a specialized business that its going to take a long time to get any big return but when it happens its going to make a big noise. Rising up nicely when that happens. So i will just take it slow and build my existing positions. Even though the market has been jittery i think once they stablize the U.S. interest rates the market will start to rebound. Funny thing is the maritime sector in general is supposed to be the most wild volitile and difficult to stomach. Compared to the market as a whole i think people are starting to realize what great companies these all are. My goodness to be trading at a price to earnings of under 10 such as FRO is which is about 7.5 or so. Thats value in my book. I am so glad i didnt sell my position in that stock. I could see that well above 100 in the not so distant future. Once again thank you for the great insight my freind...
Xanadu,
I just might add to my position in DOCK. I bought on your recommendation a few months back. I really think this company has some big things coming up in the future. Might just have to add either DOCK or SEADRILL what do you think. Its almost toss up but i would like to know anyway. I have a feeling DOCK may just be the sleeper of the bunch....
Thanks Buddy
The symbol for Golden Ocean is GDOCF. They have a web site which has alot of information on it....
Take Care
Xanadu,
I was reading how Aramco is going to be ramping up their refining ability by 75 percent over the next few years. How do you think this will effect Frontline. I hear alot of chirping from the peanut gallery about this. I posted a snipit for you below... I don't foresee any companies suffering terribly from this refinery build-out, but consider that many of Aramco's projects are focused on developing Saudi refining capacity. On the margin, I expect that would depress oil tanker demand when the supply comes on a few years out, but such a minor pinch wouldn't keep me up at night if I were a Frontline (NYSE: FRO) investor.
Whats your take Buddy?
Thanks
Joe
Easy,
In reply to the message about the which is the best shipping stock. GLNG is a natural gas shipping company which will probably be great but is more of a long term stock. I think what your asking about is Dry Bulk Shipping Companies. I will name some that are listed on the NYSE. Golden Ocean is on the Oslo Bors. You will have to contact the foreign desk of your brokerage here so they can purchase the stock for you.
Genco, Freeseas, Paragon, Dryships, Excel Maritime, Diana these are just some of the stocks you can buy here. I have Golden Ocean i like that one best. I also like Paragon. You should definately weigh out the risk to decide what is best for you. I like Golden Ocean because it is part of the Ship Finance Limited SFL group of companies. In fact SFL is a great company in itself. I hope this helps you ..
Take Care
Milner...
I agree with that totally. I have about 300 shares of Seadrill and i will be building that positon over the next year. I have many more shares of Golden Ocean. Frontline about 1000 shares total. Deep Sea Supply i have about 1/2 a block of that. I think they will all do well. Today was a particularly good day... One of those days i will be smiling and no one knows why.
Take Care Buddy,
Joe
I just watch a web cast from Tradewinds on the Oslo shipping conference. They were asking everyone there if they what they thought was better. Dry Cargo, Tankers, and Offshore. Everyone answered (offshore) Because it is so expensive to compete in that sector and major oil producers are bound to be competitors i think it is going to do well but i think in the next few years Dry Cargo is going to really do very well. The lack of fiancing is going to be playing a big roll and also the fact that alot of analysts predicted a boom market to 1012 even with all the newbuildings. Now keeping in mind that probably two thirds of those newbuildings have vanished now it seems like a no brainer that this is going to really skyrocket. What is your opinion. I like them all about equally... I think they are all going to do great. I own all the JF companies. The maritime ones anyway...
Joe
Xanadu,
Here is another article that is very similar too the one i read. It has a map and shows a couple of different versions of the pipeline. Nord Stream and South Stream....
http://www.robertamsterdam.com/2008/06/losing_to_russia_in_the_pipeli.htm
I was very interested in what if any effect this might have on Golar. If anything i think any Natural Gas developement is good. Considering that so few companies ship it overseas anyway. Im sure John Fredrikson has a close eye on this situation....
Take Care
Joe
Xanadu,
Here is an article about Gazprom's South Stream Pipeline i got online :
http://www.jamestown.org/edm/article.php?article_id=2372249
I am still looking for the Wall Street Journal Article...
Thanks
Joe
I read most of the article about this pipeline and from what i gleaned from it the Russian pipeline is going to be called Southstream. Its going through Serbia and Hungary. Apparently the Russians are using the leverage they already have to not hold off on renewing any Natural Gas Contracts with Greece and also Hungary unless they cooperated. The EU is up in arms over this tactic but can do little about it. Especially when the EU pipeline has been getting snarled in red tape and is way behind schedule. At this point they are saying the Russians may actually be able to complete their project first because they are fast tracking everything and because the EU 's pipeline originates from a further distance away and Azerbajin is not the best place to do business to begin with. I will try to get more information for you. I can get you a copy of this and send it to you if necessary or i will email you a PDF of it ... Just let me know what email to send it to...
Joe
Xanadu,
Funny you mention that. I bought the paper in a local market where i live. Very rarely do i even read the WSJ. So i have the actual newspaper. I will look online to see if i can find a link about it...
Have a good day,
Joe
Xanadu,
There was a big article in the U.S newspaper the Wall Street Journal about how the Russians are trying to corner the Natural Gas market in Europe. They are moving very quickly to get a pipeline that will go through eastern europe to counter the proposed pipleline the EU was going to put through Aszerbijan. The Article Reads: Russa Outflanks EU's Pipeline Plan. What if any effect do you think this will have on Gas shippers like Golar. The article states the Europes demand for natural gas is going to boom in the upcoming years with tremendous demand.
Let me know what you think of all this...
Thanks
Joe
Xanadu,
Britannia Bulk Holdings registers for IPO
NEW YORK (AP) - Britannia Bulk Holdings Inc., a provider of drybulk shipping and maritime logistics services, has registered for an initial public offering of 8.3 million shares, according to a Securities and Exchange Commission filing on Wednesday.
The company expects the IPO to price between $17 and $19 per share.
Based on the anticipated IPO price range, Britannia's market capitalization would total $458.7 million to $512.6 million. Assuming an offering price of $18 per share, the company expects to raise about $136 million after offering expenses.
Britannia plans to use the IPO proceeds, with other amounts and borrowings, to repay and refinance debt and for general corporate purposes.
The company's current owned fleet consists of 22 vessels, and the company has contracted to buy an additional 6 vessels. Upon delivery, which is expected between June 2009 and September 2010, Britannia's owned fleet will consist of 28 vessels. The total includes 19 drybulk vessels, 11 of which will be certified for transportation in icy conditions.
As of March 31, Britannia also chartered 45 drybulk vessels. The company also provides maritime logistics services for its customers.
Britannia is incorporated in the Republic of the Marshall Islands, but its day-to-day operations are conducted from Great Britain and Denmark.
For the first three months of 2008, Britannia's earnings totaled $31.5 million on revenue of $300.2 million. The company said about 74 percent of its revenue was earned from shipping drybulk commodities to and from the Baltic and Northern Europe regions.
Goldman Sachs (NYSE: GS - news) and Banc of America Securities are serving as the IPO's lead underwriters. Dahlman Rose & Co. and Oppenheimer & Co. are also underwriting the offering.
The underwriters have an option to buy up to about 1.3 million additional shares to cover any overallotments.
Britannia plans to list its shares on the New York Stock Exchange under the symbol 'DWT.'
Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Britannia Bulk IPO brings cheer to New York
Rajesh Joshi, New York - Thursday 5 June 2008
Britannia Bulk: launching IPO with a fleet of 67 vessels,
BRITANNIA Bulk Holdings has given shipping equity markets in New York another reason for optimism by launching an initial public offering of up to $158m.
In an F-1 registration statement filed with US securities regulators today, the London-based company said it is coming to market with a fleet of 67 vessels, including 22 owned ships and 45 chartered in, plus six panamax bulkers scheduled for delivery through to 2011.
The owned category comprises 13 bulkers including five ice-class ships, plus five ice-class barges and four ice-class tugs.
“We have long-standing relationships with key customers including Corus, Glencore International, Siberian Coal Energy Company and Weglokoks and more recent relationships with BHP Billiton, Peabody Energy and Rio Tinto,” Britannia’s prospectus states.
“Our customer base is diversified, and, in the three months ended March 31, 2008, no customer represented more than 9% of our revenues. A significant portion of our revenue with such customers is earned under fixed price contracts of affreightment.”
The money raised from the IPO will go towards paring down the company’s debt, including borrowings under a secured term loan as well as the repayment of outstanding senior secured notes.
Britannia chief executive Arvid Tage, a member of the Baltic Exchange, is the founder of Rainbow Shipping and Trading, and is described in the prospectus as having 17 years of experience in dry bulk shipping.
Fariyal Khanbabi is Britannia’s chief financial officer. John Sinders, the erstwhile head of Jefferies & Company’s shipping arm, is one of three listed non-executive directors.
Goldman Sachs and Bank of America Securities are joint book-runners and Dahlman Rose and Oppenheimer & Company are co-managers for the IPO, which envisages the sale of 8.3m shares in an intended price band of $17-$19 a share.
Underwriters have an over-allotment option of 1.3m shares.
Xanadu,
No problem . Usually its you who come up with all the information so im more than glad to be of service ....
Have a great weekend,
Joe
I will try to find out over the weekend. I am at my office right now and i do printing in New Jersey. I am located in a shopping plaza that is like a zoo this morning. I will get right on that though and get all the information... I will get it by Monday eve. Only Bank of America and Goldman Sachs are handling the IPO here...
Joe
Xanadu,
The only information i was able to ascertain regarding Brittania is that they are already doing business privately. They have a fleet of roughly 65 Ships. Once they enter the market they will basically continue to do business with roughly 1/2 of their fleet under contract in their current order book. To me it sounds like they are going after the spot market. Im sure they are going to have a greek mouthpiece so to speak as the chairman because that seems to be the mode of operation for all of these new outfits. I also am skeptical the only other bulk carrier i own outside of Golden Ocean is Paragon which has a fleet of Panamax bulk and a couple of Handymax's. They are smaller with fairly good management and paid a .47 cent quarterly dividend. I think im going to take a wait and see attitude twards these new guys...
Thanks Buddy,
Joseph
Xanadu,
Thank you for your reply. I have owned FRO and GLNG for a few years now. Generally they do the same thing and sell down on the ex date and a few days after. I have avoided getting caught so to speak in an upswing at that time by just holding and not selling and buying back later. Last summer during the week of July 4th FRO went way up so its just so volitile like you stated. I have become aware that SDRL and GOGL have large floats. So what your saying is that if they buy back shares and reduce the float it will be more condusive to stock share price. I imagine they are trying to buy back in small increments to purchase the stock at a low price if possible. I was extremely happy with the .55 cent a share dividend. I have always felt like you the dividend is a good barometer of the stocks health so to speak. What are your thought if any on DWT which is the new IPO on Brittania Bulk. They are talking about a 17 - 19 dollar share price IPO next week?
Thanks buddy,
Joseph
Xanadu,
I was just wondering if you might have any insight as to why Gogl has been going down since the last earnings report. I see a post on Hegnar that stock was sold off yesterday by what looks like an institution. Is this a common thing after the dividend ex date? The article is written in Norwegian so i can make everything out. Do you think its now finally hurting Gogl that they are not planning to uplist due to the fact that so many ipo's have been emerging on the U.S. exchanges...?
Thanks Buddy,
Joe
Xanadu,
I agree with you 100 percent. I have seen alot of people who invest their assets in personal endevors like opening businesses and stores. I really enjoy investing in global shipping and energy. I have owned my own business here in the states for many years. A few years ago it occured to me that if i dont start managing my stocks and get some long term heavy hitters in there im not going to be able to get any wealth. Its a long term stratagy but its working already. Logistics are a hobby of mine so to speak so i look at all of these companies and their strategies. The great thing that JF does is derived from a military strategy so to speak. He companies are one big company. Its like a machine that is modular. Since their management is all intermingled they have much greater resources than a company that stands alone. They also have less exposure since each company is a seperate entity to itself. In essence its a modular machine. A hand with 5 fingers that all can be used a five different times rather than one. I really am looking forward to big things here. I beleive its an overall business strategy that was applied to the shipping and energy business that is a new way of doing business in itself .... What do you think about that... Im interested to know...
Thanks
Joe
Xanadu,
Actually i think your being too modest. I consider you an expert anyway. I know alot of posters who are on another message board service and you are definately the smartest one by a long distance. Its not even close. I have learned so much and i think the most important thing is to have patience with these companies. Alot of them are new and are just starting their growing phase. The amazing part to me is that most of them are paying dividends already....
Thanks Buddy,
Joe
Yes,
Xanadu is the expert my hats off to him. Hopefully he will let us know.
What effect do you think the new building programme in Brazil is going to have on a company like Frontline or is the lack of double hulled tonnage and the new oil output and logistical requirements going to absorb into the sector easily...?
Quarter 1 results. I bet they are good. This will be interesting...
Xanadu,
Im not sure if your following Independent Tanker Corporation because it is trading on the Oslo OTC but i bought some of that too the day it came off restriction and have been following it ever since. It has volume every day. The highest volume i saw on it was around 30,000 shares. Usually it has a few thousand shares volume. I think this stock is going to do well and uplist to the Oslo Bors in no time. Have you heard anything about that? All i know is they are running bareboat charters to the state of California for Chevron and BP. They are using 3 corporations owned by FRO registered in the Isle of Man. They are running the charters and crewing the vessels and SFL is doing the administration work. What do you think about all of this. I like it... !
Thanks
Joe
I tried to get it to work but all it said was
Ingen Treff
Xanadu,
I was happy with the quarterly results. Just like Golden Ocean they have limited their exposure to spot market fluctuations with long term charters. I just watched and interview with a big time analyst on the web who was talking about Dry Bulk shippers and said that 10 percent of the new buildings would be cancelled for lack of funds or shipyards that cant deliver. He said this could be higher but dont bank on it. One point he really stressed was that Shippers with Long Term charters such as Golden Ocean would do better in the long run than Dryships which has alot of spot market exposure going into 2009 ....
Thanks Buddy,
Joe
Xanadu,
Thank you for this great information. Im holding this stock because i really think it could be the Dark Horse so to speak of the JF stocks. Im on the east coast of the U.S. New Jersey and here alot of investors are on message boards like this and they are really bad rapping deesc. I tell them if they really believe what they are saying they should just get out of it. I feel bad for them in a way because they dont know what they are talking about. They actually are trying to figure out a stratagy for the company like they own it. Hard to believe that its not going to do fantastic, i own about 4550 shares of it so im sticking to my guns here. Im going to check that website now..
Thanks
Joe
Xanadu,
I meant FRO's dividend. I wasnt sure if Dockwise is going to have a dividend any time soon. I was wondering if you had heard anything about Deep Sea Supply. I have some freinds who own it and they are complaining about how the stock is in a rut. I think they should just be happy they are going to get a nice dividend in a month or so. Im sure they will be involved in Sea Drill's boom and we just have to bide our time. The offshore supply boat sector will be doing very well by the end of the year. I was just wondering if you had any thoughts on that.
Thanks
Joe
Xanadu,
Just bought some Dockwise as per your advice. Thanks Buddy. I think its going to do great. 2.75 Dividend not too shabby. Cant wait to get that either.
Have a good day...
Joe
Dont be surprised if this thing is done today. They are going to court out in the midwest. In the northeast i would say ok its going to take months. They dont go for that down there. This is going to be a faster process than anyone thinks here. They are not going to let this drag out. I think how quickly they obliged in moving up the court date was a good forebearer of things to come.
Wildman,
If this keeps up we'll all be smoking cigars and driving cadillacs with bull horns on the hood. I know im getting the Big Enis Cadillac Eldorado from Smokey and the Bandit.....
Pablo Picasso was never called a A--h-le Good Job....
I hear that. I just wish we knew already. I suppose we just have to be patient and on the 20th we will know whats actually going on. After that it should be smooth sailing ...
I think this is all going to be a wash. They are going to get resolved in mediation. They are going to settle with Cap West through some kind of arbitrator if the judge dosent throw this garbage out first. They have usery laws that prevent this kind of nonsense.. Lets keep our fingers crossed. When is the date for the hearing the 20th..?
Keep your head down brother... Good Luck...Represent...!
How about that............! Looks like we are in for some nice ride here. Thats for posting that so quickly.
Golar is starting to get some bouyancy lately. I hope it continues. Its one of my largest holdings of JF Stocks.. I have big hopes for it ... I think its just a matter of time now...