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$HH - News yesterday on $7M Credit Agreement
Charts warming up as well for a good bounce
$FREE is $SAPX family I guess
MNGA looks like the market does not like the CC ....
NEWL this was expected. Sad a good prospect but a financial mess.
Sticking to more robust shipping ones
$ASC next one to announce new delivery possibly soon..its due their product tanker.
Maple Crystal is anchored of Port Klang after finishing discharge since last week. She is not bouf for Suez
Be careful with this approach of China Business Connection as it is not as it may appear as an overview.
NEWL ships are on spot charter and these are fixed by their brokers to get maximum freight and minimum time in ballast. Therefore if they are trading in the Far East, unless they get a fixture to other parts they would trade here. Maple Cystal is mainly a Log / Forest Product carrier by design and thus not necessarily be dedicated for coal business. Anyways as long as they get cargo on good rates they are profitable.
Buying ships from Maple Leaf has also nothing to do with Chinese business association of NEWL. Maple Leaf is a subsidiary of Taizhou Maple Leaf shipbuilding Co which buys and manages ships which owners may have often defaulted during new building stage like NEWL defaulted few years ago. Coincidentally NEWL defaulted for these two deliveries (Maple Crystal & Maple Amethyst/Newlead Albion) as their hull nos.are same as mentioned on one of the old NEWL 20-F.
Yes thats true. Additionaly NEWL does bot have DOC to manage Hkg flag ships so there are other provisions to be satisfied before taking over the Maple Crystal.
As per hull nos these 2 ships were sold off at newbuilding stage by NEWL to Maple Leaf shipping co.
Anyway at this moment the first point is getting past delisting matter. The others are all secondary.
Its not a mistake.
The new Maple Crystal is on AIS n you are seeing it and is HKG Flag. This is the one to be delivered.
The old Maple Crystal is now named Newlead Albion.
My mention of this was matter earlier was in a different context so its not so relevant or concerning for me.
You can check the ship register of Veristar which is the Classification Society of Newlead Albion
Ex name: Maple Amethyst and Maple Crystal.
http://www.veristar.com/portal/veristarinfo/generalinfo/registers/seaGoingShips?portal:componentId=p_9cb0c4c2-6911-4da5-9099-1fce9141f36e&interactionstate=JBPNS_rO0ABXdRAAZudW1iZXIAAAABAAYyMzM2NVkAFGphdmF4LnBvcnRsZXQuYWN0aW9uAAAAAQAYc2hpcFNlYXJjaFJlc3VsdHNTZXRTaGlwAAdfX0VPRl9f&portal:type=action&portal:isSecure=false
Navios Maritime doesnt need Newlead...pleeeeez..
Rather no sense for any shipping co to buy Newlead.
There is lots of tonnage in the market. Easy to buy cheap vessels or just charter.
I am more of long favourable for NEWL but a lot of takeove chatter is baseless.
Cant even say wishful thinking....
You r just not reading the background nor understanding the context of exchange in communication
I never said that the existing Crystal is the Amethyst.
More than one ship can have the same name.
At this moment they are 2 different ships obviously.
U can check history of Maple Amethyst -- she too had original name as Maple Crystal.
Apparently 3 matters for NEWL in the NASDAQ notice which are possible causes for delisting as per them:-
1) Min Bid $1 :
They achieved it from Mar 6th ~ Apr 4th. All 22 days the closing price was above $1
NASDAQ never issued a compliance notice but at the same time NASQAQ cannot delist them because of this since ever since 4th Apr they have not traded for less than 1$ for more than 30days -- its 29 days from Apr 5th to May 16th when NEWL was below a buck continously. Probably NEWL timed the 1:50 r/s keeping this in mind.
2) Market cap > 50million:
This is a matter of concern
3) Misleading info:
Only NASDAQ and NEWL what they are calling or referring to as misleading. NEWL has been reporting everything. The Ironridge matter is the one which is concerning.
I got a few PMs asking about price targets. Sorry I don't have any and as I have said earlier am not a stock expert. I am a shipping professional and know for sure that NEWL is not a scam and is legit company. These games of stock dilution and debt are over me so my strategy is to play safe and just trade it.
Personally, I will play only long side as I don't like to short. No point getting emotional with NEWL.
I had sold my holdings with big loss (almost 30%) when the second unannounced r/s took place. No emotions and have traded it every since - made money as well as lost but yes made up the 30% loss. I went long a day before she got halted at 0.34 (not big size) but did not sell on open next day.
Added at 0.50 after the debt clearing news of Hanover as an investment since was waiting for that news. Got trapped in the halt but sold at 0.492 immediately on unhalt.
Back to my old strategy of not investing in this but just trading till the delisting issue is resolved thus atleast till 7th Jul.
There is a positive element in every negative news and a negative element in every positive one.
e.g We found Maple Crystal is their 2nd ship - for +ve ones they will accept it and watch out for the delivery news while negative posters can say its a scam since Maple Crystal also happened to be the ex-Name of Maple Amythist which was delivered last month as NEWLEAD Albion.
Good Luck to All for NEWL today and hope no one gets burned.
Anyway all this is immaterial till the delisting issue is sorted out.
But the strange part is that if her destination is keelung what is she doing SW off Taiwan.
Keelung is NE coast if Taiwan
Its also the Clarksons register. They are one of the big shipping brokers
I think another poster put a link. Also i think its in their Annual Report.
The 2 old ships they are buying are the ones which they could not go fwd with the newbuilding contracts n finally Maple Leaf Shipping took on.
She is loaded.
So Keelung could be delivery port after finishing discharge or probably they might do it at Singapore or Hong Kong..lets hope all this happens before 7th July to make a good run for the stock price
Will have to search a lot as u know too many PRs. Try the Annual Report.
Tks for the recent position. Surprising not showing up on the other AIS positioning sites.
Any chance you have her draught. Will give an idea if she is loaded / partly loaded or in ballast.
Will have to search a lot as u know too many PRs. Try the Annual Report.
Tks for the recent position. Surprising not showing up on the other AIS positioning sites.
Any chance you have her draught. Will give an idea if she is loaded / partly loaded or in ballast.
Tks. But it seems Tob99 put a newer position so now she is on her way to Keelung.
Its in one of the PRs
Maple Crystal finished discharging at Shanghai n departed for Japan around 14/15 June. She went off AIS range on 16th.
She has still not got back in range. I think she is drifting somewhere n work in progress for delivery - she is Hong Kong flagged n NEWL doesnt have cert to manage HKG flag ships so they have to change her flag which requires a bit of work onboard n ashore. Its normal for such things.
Expect news soon or if the vessel departs Japan after news the possibly delivery will be next voyage coz gotta be before loading.
My opinion is that there are so many issues going on that its confusing for any new person or maybe even for the seasoned guys.
But
I feel there is a run on the cards.
I trade it on the long side almost everyday n made up more than i lost before the second r/s.
Kept a small 10k position open from 0.282 overnight for any +ve news on monday. Even if i loose this no love lost--
Its hard for recent NEWL people to understand while we have been around for years n lucky to not have held through the r/s.
I always said once all this dilution etc is over its a good shipping model.
For now ( since the last few r/s) if someone is an investor god save him.
Its just a trading stock with lottsa money to be made. The risk/reward is more towards to long side for now.
If keeping long overnight for next day gap ups better keep small positions which is from the table money. Dont be greedy.
If you wanna short it (which i never do) at 0.28 - give me a break. Atleast wait till it pops over 0.75
NEWL traded over $1.00 for 10 consecutive days in Mar end to early April
https://finance.yahoo.com/q/hp?s=NEWL+Historical+Prices
The issues are
1. 50m market cap
2. Other misleading info.
For 2- why did NASDAQ wake up after Hanover debt release PR...they played along it seems.
While GBG site is still functional. Hmmm
Atleast the 2nd ship purchase/sale is confirmed. With this fiasco with Ironridge if that gets off the table...it could get ugly for all the parties involved.
Hope this doesnt end up in that direction.
NEWL Filing...cant understand..totally blanked out after a long day
http://ih.advfn.com/p.php?pid=nmona&article=61361710&xref=newsalerttweet&adw=1126416
Gary I'm afraid R/S has happened. But yes No Announcement. See CNBC already closing price changed to 5.94 from 0.594.
I lost faith in rules and legalities- remember SAPX , we were in it together MT
I too got mail from my trading co
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Kindly take note of the below Reverse split:
Reverse split – US
Reverse Split - NEWLEAD HOLDINGS LTD,NEWL - 1 FOR 10 (US)
Ex date: 06 March 2014
US
No announcment of new ticker change
RMS has been updated
///////
Strange no information from NEWLEAD officially!!!
HSBC Downgrade taking it down
Hope so. Pre market not so good though on low vol
Having said that then there is the mother of all r/s pos SAPX...
Hope NEWL doesnt choose this path...the company really has a better future
See CRME QTWW and lately PEIX. I used to think like you and sold all off early...now I just watch them and feel ....
Increases the shares available. In this case looks like Hanover sold off. So now they got 2mill, should expect a rise and they will sell at top.
This is the part I.e Hanover shares transfer, to finish before NEWL starts its journey upwards and holds the gains imho.