logo transparent gif
top_white_spacer
Home Latest Stock Forum Topics MyCorner - Personal Stocks Porfolio Stock Lists Investor Insights Investor Research & Links Dynamic Stock Charting FREE Registration About Us top spacer top spacer
 User Password Auto-Login
Enter Stock
 
righttip
branding

Back
First   < Newer   61-80 of 189   Older>   Last  
Latest Forum Topics / Insider Info/Tips  Post Reply
RICKMERS MARITIME - OVERSOLD WITH 20% YIELD
danger
Supreme
04-Dec-2015 13:54     
 
danger About Contact  Quote this Post! Style: Combined   Mood: cool
  x 0
  x 0

 Alert Admin

ONE THING FOR CERTAIN , GOT THIS FELLOW WHAT HAZARDKOH .... LOUDLY ANNOUNCED 4 DAYS AGO , Rickmers is pump and dump .. the next day will dump .. Marked his words he said ....nothing happened ... the next few days nothing happended ... Today still 13.5c
 Useful To Me  Not Useful To Me
spore1
Supreme
04-Dec-2015 12:07     
 
spore1 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

every counter come with a risk when you trade/invest. The price has came down to a low of 13.4 cents. U can' t deny the company is preserving cash and doing its best to ensure enough to weather out during this difficult time. They are still revenue generated from vessel being chartered even though at a lower rates. their vessel has been 99% chartered as of 3rd Qtr 2015. At least they are still profitable unlike other shipping comp. 

HazardKoh      ( Date: 04-Dec-2015 11:41) Posted:



The only CONFIRMED event here is danger recommend ppl to buy Rickmers at 15+ cents, saying it will chiong to 21 cents, but now the price drops to 13.4 cent ever since the day he issued his buy call at 15+ cents, ever since, the share price has been dropping.

This is 100% happened. This one we all cannot deny ..

Fair enough statement right?

spore1      ( Date: 04-Dec-2015 11:31) Posted:



oh come on! cannot listen/base everything on analyst report..if they are so accurate think they might not hv to write report...


 Useful To Me  Not Useful To Me


HazardKoh
Master
04-Dec-2015 11:41     
 
HazardKoh About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

The only CONFIRMED event here is danger recommend ppl to buy Rickmers at 15+ cents, saying it will chiong to 21 cents, but now the price drops to 13.4 cent ever since the day he issued his buy call at 15+ cents, ever since, the share price has been dropping.

This is 100% happened. This one we all cannot deny ..

Fair enough statement right?

spore1      ( Date: 04-Dec-2015 11:31) Posted:



oh come on! cannot listen/base everything on analyst report..if they are so accurate think they might not hv to write report...

HazardKoh      ( Date: 04-Dec-2015 11:11) Posted:



No, I am not the same person as earlybird14

Anyway, why bother to comment unless u are more expert than KGI Research.

Cheers:

KGI Reseach Report
We had earlier flagged out the sustainability issue of RMT' s dividends on 23 June in our morning meeting, and reiterated our analysis on the weak cash flow and challenging containership operating environment in our note on 14 Aug titled ' Is the current high-yield sustainable?' . We believe there is still significant downsides for RMT, while we can consider switching out to First Ship Lease Trust.
 
Rickmers Maritime (RMT) announced its 3Q15 results yesterday. Revenues were slightly lower than 2Q15 due to lower charter rates. In view of the challenging environment, management has slashed the 0.6c per quarter dividend. In our not-rated note & rsquo Is the current high-yield sustainable?& rsquo published on 14 August 2015, we think our analysis on the company remains valid with RMT still seeing weak cashflow in a poor containership operating environment.
 
Deteriorating operating environment
RMT will be renewing/extending 3 4,250 TEU vessels in November. While the timing was not surprising, this came as a shock as the rates will be recontracted at US$6200+, significantly lower than the previous rates of US$8492-US$13027. Management said that there are many ships looking for employment, and at rates of US$6200+ the vessels are contracted just above cash breakeven levels. If rates remain at such depressed levels amidst the oversupply of vessels, RMT could see very significant downside risks.
 
Bleak outlook ahead
RMT commented that the global container supply and demand was in acute imbalance, which resulted in the plunge in daily charter rates. Capacity growth is expected to increase by 7.1%, outpacing global container trade which is expected to grow by 3.7%. However, rates could bottom out if liner owners continue to reduce capacity.
 
Liquidity preservation is utmost importance to survival 
In addition to the 3 vessels that were renewed/extended, contracts on 8 vessels will expire by end 2016. If these vessels would be similarly rechartered at rates of US$6200+, down from their previous rates of US$9381-US$25950, the reduced cashflow from operations would likely be lower than the debt repayment rate of ~US$12m per quarter. The existing cashpile of US$51.7m is of utmost importance to tide RMT through the difficult period.
 
Switch out from RMT to FSL
With liner companies reporting poor results amidst a poor operating environment, we see further downsides to RMT. We note that RMT is still in breach of loan covenant, while US$243.9m of debt will mature over FY16-17. Comparatively, we reiterate our preference for First Ship Lease Trust (S$0.172 BUY TP: S$0.26) as dividends may potentially resume while it is riding the booming tanker market. We look forward to FSL& rsquo s results after the market closes today. (Read Report)

Source : KGI Fraser Research
 Useful To Me  Not Useful To Me
HazardKoh
Master
04-Dec-2015 11:39     
 
HazardKoh About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

cannot listen to analyst, then listen to danger guy? :)

cheers

u must be fair too, if u say cannot listen/base everything on analyst report, then u must also say cannot listen/base everything on that danger guy' s shouting huat har etc.. right?

Fair enough?

So we must warn others reading this thread not to listen to analysts and the danger guy and also u and me... correct?

Fair right?

spore1      ( Date: 04-Dec-2015 11:31) Posted:



oh come on! cannot listen/base everything on analyst report..if they are so accurate think they might not hv to write report...

HazardKoh      ( Date: 04-Dec-2015 11:11) Posted:



No, I am not the same person as earlybird14

Anyway, why bother to comment unless u are more expert than KGI Research.

Cheers:

KGI Reseach Report
We had earlier flagged out the sustainability issue of RMT' s dividends on 23 June in our morning meeting, and reiterated our analysis on the weak cash flow and challenging containership operating environment in our note on 14 Aug titled ' Is the current high-yield sustainable?' . We believe there is still significant downsides for RMT, while we can consider switching out to First Ship Lease Trust.
 
Rickmers Maritime (RMT) announced its 3Q15 results yesterday. Revenues were slightly lower than 2Q15 due to lower charter rates. In view of the challenging environment, management has slashed the 0.6c per quarter dividend. In our not-rated note & rsquo Is the current high-yield sustainable?& rsquo published on 14 August 2015, we think our analysis on the company remains valid with RMT still seeing weak cashflow in a poor containership operating environment.
 
Deteriorating operating environment
RMT will be renewing/extending 3 4,250 TEU vessels in November. While the timing was not surprising, this came as a shock as the rates will be recontracted at US$6200+, significantly lower than the previous rates of US$8492-US$13027. Management said that there are many ships looking for employment, and at rates of US$6200+ the vessels are contracted just above cash breakeven levels. If rates remain at such depressed levels amidst the oversupply of vessels, RMT could see very significant downside risks.
 
Bleak outlook ahead
RMT commented that the global container supply and demand was in acute imbalance, which resulted in the plunge in daily charter rates. Capacity growth is expected to increase by 7.1%, outpacing global container trade which is expected to grow by 3.7%. However, rates could bottom out if liner owners continue to reduce capacity.
 
Liquidity preservation is utmost importance to survival 
In addition to the 3 vessels that were renewed/extended, contracts on 8 vessels will expire by end 2016. If these vessels would be similarly rechartered at rates of US$6200+, down from their previous rates of US$9381-US$25950, the reduced cashflow from operations would likely be lower than the debt repayment rate of ~US$12m per quarter. The existing cashpile of US$51.7m is of utmost importance to tide RMT through the difficult period.
 
Switch out from RMT to FSL
With liner companies reporting poor results amidst a poor operating environment, we see further downsides to RMT. We note that RMT is still in breach of loan covenant, while US$243.9m of debt will mature over FY16-17. Comparatively, we reiterate our preference for First Ship Lease Trust (S$0.172 BUY TP: S$0.26) as dividends may potentially resume while it is riding the booming tanker market. We look forward to FSL& rsquo s results after the market closes today. (Read Report)

Source : KGI Fraser Research
 Useful To Me  Not Useful To Me
yNotcool
Member
04-Dec-2015 11:31     
 
yNotcool About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Hmm I Thot my reply was already diplomatic. My apologies if I made u feel " attacked" . Erm Ezra raised rights in May because they don' t need have money to pay the 225m bond in September. Wiselike for swiber in h1 2015. Rm does not have a big bond to fulfill payment upcoming one year period so no point hoarding more cash den needed on hand. Just my 2c thots from the company perspective. 

 

 

 
 Useful To Me  Not Useful To Me


spore1
Supreme
04-Dec-2015 11:31     
 
spore1 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

oh come on! cannot listen/base everything on analyst report..if they are so accurate think they might not hv to write report...

HazardKoh      ( Date: 04-Dec-2015 11:11) Posted:



No, I am not the same person as earlybird14

Anyway, why bother to comment unless u are more expert than KGI Research.

Cheers:

KGI Reseach Report
We had earlier flagged out the sustainability issue of RMT' s dividends on 23 June in our morning meeting, and reiterated our analysis on the weak cash flow and challenging containership operating environment in our note on 14 Aug titled ' Is the current high-yield sustainable?' . We believe there is still significant downsides for RMT, while we can consider switching out to First Ship Lease Trust.
 
Rickmers Maritime (RMT) announced its 3Q15 results yesterday. Revenues were slightly lower than 2Q15 due to lower charter rates. In view of the challenging environment, management has slashed the 0.6c per quarter dividend. In our not-rated note & rsquo Is the current high-yield sustainable?& rsquo published on 14 August 2015, we think our analysis on the company remains valid with RMT still seeing weak cashflow in a poor containership operating environment.
 
Deteriorating operating environment
RMT will be renewing/extending 3 4,250 TEU vessels in November. While the timing was not surprising, this came as a shock as the rates will be recontracted at US$6200+, significantly lower than the previous rates of US$8492-US$13027. Management said that there are many ships looking for employment, and at rates of US$6200+ the vessels are contracted just above cash breakeven levels. If rates remain at such depressed levels amidst the oversupply of vessels, RMT could see very significant downside risks.
 
Bleak outlook ahead
RMT commented that the global container supply and demand was in acute imbalance, which resulted in the plunge in daily charter rates. Capacity growth is expected to increase by 7.1%, outpacing global container trade which is expected to grow by 3.7%. However, rates could bottom out if liner owners continue to reduce capacity.
 
Liquidity preservation is utmost importance to survival 
In addition to the 3 vessels that were renewed/extended, contracts on 8 vessels will expire by end 2016. If these vessels would be similarly rechartered at rates of US$6200+, down from their previous rates of US$9381-US$25950, the reduced cashflow from operations would likely be lower than the debt repayment rate of ~US$12m per quarter. The existing cashpile of US$51.7m is of utmost importance to tide RMT through the difficult period.
 
Switch out from RMT to FSL
With liner companies reporting poor results amidst a poor operating environment, we see further downsides to RMT. We note that RMT is still in breach of loan covenant, while US$243.9m of debt will mature over FY16-17. Comparatively, we reiterate our preference for First Ship Lease Trust (S$0.172 BUY TP: S$0.26) as dividends may potentially resume while it is riding the booming tanker market. We look forward to FSL& rsquo s results after the market closes today. (Read Report)

Source : KGI Fraser Research


spore1      ( Date: 04-Dec-2015 10:57) Posted:



Looks like the same person posting.. No matter what Container vessels of diff size has it own advantage. If NOL can fetch a price closer to its NAV that shows that there is still demand for container vessles. RM NAV is USD52 cents let say 30% of NAV = sgd22 cents..


 Useful To Me  Not Useful To Me
HazardKoh
Master
04-Dec-2015 11:24     
 
HazardKoh About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Logical steps when ever a company is going to annouce rights issue..

1)Dvidend suspended.

2)Next year 3/4 lease up. Potentially much lower revenue, cannot keep up with repayment of debt.

3)To reduce gearing and to strengthen balance sheet, right issue is called.

My own opinion. Ezra also annouce rights issue to par debts. What happened to share price? China fishery, Pacific Andes, Global yellow pages all issue rights to par debt, what happens to share price?

Anyway just my own prediction. So dun have to attack me or argue with me one. We let others decide , fair enough?

Cheers

yNotcool      ( Date: 04-Dec-2015 11:19) Posted:



Yes yes. Where is the right issue as what you said? The downside has been priced in. You can wait for the right issue. It may happen but I don' t think within 1 year. Good luck!

 Useful To Me  Not Useful To Me
yNotcool
Member
04-Dec-2015 11:19     
 
yNotcool About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Yes yes. Where is the right issue as what you said? The downside has been priced in. You can wait for the right issue. It may happen but I don' t think within 1 year. Good luck!
 Useful To Me  Not Useful To Me


HazardKoh
Master
04-Dec-2015 11:16     
 
HazardKoh About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin


We had earlier flagged out the sustainability issue of RMT' s dividends on 23 June in our morning meeting, and reiterated our analysis on the weak cash flow and challenging containership operating environment in our note on 14 Aug titled ' Is the current high-yield sustainable?' . We believe there is still significant downsides for RMT, while we can consider switching out to First Ship Lease Trust.
 
Rickmers Maritime (RMT) announced its 3Q15 results yesterday. Revenues were slightly lower than 2Q15 due to lower charter rates. In view of the challenging environment, management has slashed the 0.6c per quarter dividend. In our not-rated note & rsquo Is the current high-yield sustainable?& rsquo published on 14 August 2015, we think our analysis on the company remains valid with RMT still seeing weak cashflow in a poor containership operating environment.
 
Deteriorating operating environment
RMT will be renewing/extending 3 4,250 TEU vessels in November. While the timing was not surprising, this came as a shock as the rates will be recontracted at US$6200+, significantly lower than the previous rates of US$8492-US$13027. Management said that there are many ships looking for employment, and at rates of US$6200+ the vessels are contracted just above cash breakeven levels. If rates remain at such depressed levels amidst the oversupply of vessels, RMT could see very significant downside risks.
 
Bleak outlook ahead
RMT commented that the global container supply and demand was in acute imbalance, which resulted in the plunge in daily charter rates. Capacity growth is expected to increase by 7.1%, outpacing global container trade which is expected to grow by 3.7%. However, rates could bottom out if liner owners continue to reduce capacity.
 
Liquidity preservation is utmost importance to survival 
In addition to the 3 vessels that were renewed/extended, contracts on 8 vessels will expire by end 2016. If these vessels would be similarly rechartered at rates of US$6200+, down from their previous rates of US$9381-US$25950, the reduced cashflow from operations would likely be lower than the debt repayment rate of ~US$12m per quarter. The existing cashpile of US$51.7m is of utmost importance to tide RMT through the difficult period.
 
Switch out from RMT to FSL
With liner companies reporting poor results amidst a poor operating environment, we see further downsides to RMT. We note that RMT is still in breach of loan covenant, while US$243.9m of debt will mature over FY16-17. Comparatively, we reiterate our preference for First Ship Lease Trust (S$0.172 BUY TP: S$0.26) as dividends may potentially resume while it is riding the booming tanker market. We look forward to FSL& rsquo s results after the market closes today. (Read Report)

Source : KGI Fraser Research


yNotcool      ( Date: 04-Dec-2015 11:15) Posted:



 

  Your nta is based on current market rate ignoring all potential revenue contracted or non contracted. It' s just like asking ezion to liquidate now, forgo all potential revenue, and impair all rigs and vessels. Especially the two ensco rig jointly held with Swissco that are coldstacked now with one more coming end of the month = as good as sitting brick rather charter on spot. As for rickmer let take ur doomsday scenario in current market of 15mil (rm avg fleet age is 8years) x 16 vessels =240m. It has a net gearing of 1.35 as compared to ezion which has 1.1x(haven impaired). Doesn' t it mean they are both facing doom of right issue or liquidation now or totally 0 value per share as what u said?

To be fair what I wan to say is

Don' t blindly shout right issues, support with stats and numbers

dont blindly shout share hiking to 21c or 28c because statuo quo, nothing is going to change.

Don' t blindly shout clean 0 value stock liken to throwing money Into the sea. If so. Sgx would have halt trading pending investigation or like Magnus fall till 1-4c den go consolidation.

Nobody know what is going to happen to global market. Be it oil price hike suddenly because Assad got brought down and turkey managed to pull through the trans Qatar turkey pipeline. Sa can stop flooding oil and his objective to suppress Russia and Iran done. Alternatively Assad stays, trans Iran Syrian pipeline to Europe continue to oppose the other big project and sa continue to flood oil market to suppressed Russia Iran and at same time us shale. 

If oil continue to be depressed. Oil gas marine will all suffer not just rickmer. R you going to buy at the high or buy when it has stabilize at the bottom. Your call. Dyodd. Fyi I am heavily vested in Swissco and and lightly rickmer at the recent low. I am not afraid to say I am in red but I hold for the light at the end of tunnel. I just monitor the market and geopolitical situation closely to plan my next move

 

 

 

 

 

 

earlybird14      ( Date: 04-Dec-2015 10:37) Posted:



http://www.hellenicshippingnews.com/

What is the spot rate of 4250 TEU container vessel now? $8045

http://infopub.sgx.com/FileOpen/RM%203Q2015%20Results%20Presentation%204Nov15_FINAL.ashx?App=Announcement& FileID=376538

Look at page 14, total of 11 vessels charter are going to expired in 2015-2016, so all will be chartered at this rate or even lower based on the downtrend of chartered rate, lower price may get in 2016. So, the revenue will drop further.

Already suspend the dividend mean they have no money to pay, the earning has to go to pay the bond interest. 

Then back to NTA,  http://www.soefart.dk/app/doc/Container_Market.pdf

10yos container vessels are 14-15mio, go to do simple calculation, the assets that posted in the report is wrongly valued at 2007 vessel price, based on present 2nd hand container vessels price, NTA is negative value.

So a stock with NTA negative, no dividend. Buy is equal to dump money to sea.


 Useful To Me  Not Useful To Me
yNotcool
Member
04-Dec-2015 11:15     
 
yNotcool About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

 

  Your nta is based on current market rate ignoring all potential revenue contracted or non contracted. It' s just like asking ezion to liquidate now, forgo all potential revenue, and impair all rigs and vessels. Especially the two ensco rig jointly held with Swissco that are coldstacked now with one more coming end of the month = as good as sitting brick rather charter on spot. As for rickmer let take ur doomsday scenario in current market of 15mil (rm avg fleet age is 8years) x 16 vessels =240m. It has a net gearing of 1.35 as compared to ezion which has 1.1x(haven impaired). Doesn' t it mean they are both facing doom of right issue or liquidation now or totally 0 value per share as what u said?

To be fair what I wan to say is

Don' t blindly shout right issues, support with stats and numbers

dont blindly shout share hiking to 21c or 28c because statuo quo, nothing is going to change.

Don' t blindly shout clean 0 value stock liken to throwing money Into the sea. If so. Sgx would have halt trading pending investigation or like Magnus fall till 1-4c den go consolidation.

Nobody know what is going to happen to global market. Be it oil price hike suddenly because Assad got brought down and turkey managed to pull through the trans Qatar turkey pipeline. Sa can stop flooding oil and his objective to suppress Russia and Iran done. Alternatively Assad stays, trans Iran Syrian pipeline to Europe continue to oppose the other big project and sa continue to flood oil market to suppressed Russia Iran and at same time us shale. 

If oil continue to be depressed. Oil gas marine will all suffer not just rickmer. R you going to buy at the high or buy when it has stabilize at the bottom. Your call. Dyodd. Fyi I am heavily vested in Swissco and and lightly rickmer at the recent low. I am not afraid to say I am in red but I hold for the light at the end of tunnel. I just monitor the market and geopolitical situation closely to plan my next move

 

 

 

 

 

 

earlybird14      ( Date: 04-Dec-2015 10:37) Posted:



http://www.hellenicshippingnews.com/

What is the spot rate of 4250 TEU container vessel now? $8045

http://infopub.sgx.com/FileOpen/RM%203Q2015%20Results%20Presentation%204Nov15_FINAL.ashx?App=Announcement& FileID=376538

Look at page 14, total of 11 vessels charter are going to expired in 2015-2016, so all will be chartered at this rate or even lower based on the downtrend of chartered rate, lower price may get in 2016. So, the revenue will drop further.

Already suspend the dividend mean they have no money to pay, the earning has to go to pay the bond interest. 

Then back to NTA,  http://www.soefart.dk/app/doc/Container_Market.pdf

10yos container vessels are 14-15mio, go to do simple calculation, the assets that posted in the report is wrongly valued at 2007 vessel price, based on present 2nd hand container vessels price, NTA is negative value.

So a stock with NTA negative, no dividend. Buy is equal to dump money to sea.

yNotcool      ( Date: 04-Dec-2015 10:26) Posted:



Why RM will need to announce right issues when they have more than enough cash on hand to meet current obligation or liabiliTy. I really don' t understand the logic here about right issue when the share price has already tanked. Why would they know raise another 200mcn note to pay the debt when most of it fall in 2017 - 2018. Look at their debt repayment shedule. Beyond the charter rate contract and on spot charter income are still not counted inside. The company is one of the few that are generating cash instead of in red.

no doubt the container market captacity will remain over supply for next 2-3 years so don' t expect it to jump to 21c or 28c prior to black Monday in short term unless dividends are resumed 

 


 Useful To Me  Not Useful To Me
HazardKoh
Master
04-Dec-2015 11:11     
 
HazardKoh About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

No, I am not the same person as earlybird14

Anyway, why bother to comment unless u are more expert than KGI Research.

Cheers:

KGI Reseach Report
We had earlier flagged out the sustainability issue of RMT' s dividends on 23 June in our morning meeting, and reiterated our analysis on the weak cash flow and challenging containership operating environment in our note on 14 Aug titled ' Is the current high-yield sustainable?' . We believe there is still significant downsides for RMT, while we can consider switching out to First Ship Lease Trust.
 
Rickmers Maritime (RMT) announced its 3Q15 results yesterday. Revenues were slightly lower than 2Q15 due to lower charter rates. In view of the challenging environment, management has slashed the 0.6c per quarter dividend. In our not-rated note & rsquo Is the current high-yield sustainable?& rsquo published on 14 August 2015, we think our analysis on the company remains valid with RMT still seeing weak cashflow in a poor containership operating environment.
 
Deteriorating operating environment
RMT will be renewing/extending 3 4,250 TEU vessels in November. While the timing was not surprising, this came as a shock as the rates will be recontracted at US$6200+, significantly lower than the previous rates of US$8492-US$13027. Management said that there are many ships looking for employment, and at rates of US$6200+ the vessels are contracted just above cash breakeven levels. If rates remain at such depressed levels amidst the oversupply of vessels, RMT could see very significant downside risks.
 
Bleak outlook ahead
RMT commented that the global container supply and demand was in acute imbalance, which resulted in the plunge in daily charter rates. Capacity growth is expected to increase by 7.1%, outpacing global container trade which is expected to grow by 3.7%. However, rates could bottom out if liner owners continue to reduce capacity.
 
Liquidity preservation is utmost importance to survival 
In addition to the 3 vessels that were renewed/extended, contracts on 8 vessels will expire by end 2016. If these vessels would be similarly rechartered at rates of US$6200+, down from their previous rates of US$9381-US$25950, the reduced cashflow from operations would likely be lower than the debt repayment rate of ~US$12m per quarter. The existing cashpile of US$51.7m is of utmost importance to tide RMT through the difficult period.
 
Switch out from RMT to FSL
With liner companies reporting poor results amidst a poor operating environment, we see further downsides to RMT. We note that RMT is still in breach of loan covenant, while US$243.9m of debt will mature over FY16-17. Comparatively, we reiterate our preference for First Ship Lease Trust (S$0.172 BUY TP: S$0.26) as dividends may potentially resume while it is riding the booming tanker market. We look forward to FSL& rsquo s results after the market closes today. (Read Report)

Source : KGI Fraser Research


spore1      ( Date: 04-Dec-2015 10:57) Posted:



Looks like the same person posting.. No matter what Container vessels of diff size has it own advantage. If NOL can fetch a price closer to its NAV that shows that there is still demand for container vessles. RM NAV is USD52 cents let say 30% of NAV = sgd22 cents..

earlybird14      ( Date: 04-Dec-2015 10:24) Posted:



? I thought NTA is negative based on present 2nd hand container vessels in the market? 

Rickmer Group will not be so stupid right, if got money, just raise their hand up, korea, japan and china shipyards will all fly over to beg for the order with extremely cheap price now loh.


 Useful To Me  Not Useful To Me
spore1
Supreme
04-Dec-2015 10:57     
 
spore1 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Looks like the same person posting.. No matter what Container vessels of diff size has it own advantage. If NOL can fetch a price closer to its NAV that shows that there is still demand for container vessles. RM NAV is USD52 cents let say 30% of NAV = sgd22 cents..

earlybird14      ( Date: 04-Dec-2015 10:24) Posted:



? I thought NTA is negative based on present 2nd hand container vessels in the market? 

Rickmer Group will not be so stupid right, if got money, just raise their hand up, korea, japan and china shipyards will all fly over to beg for the order with extremely cheap price now loh.

HazardKoh      ( Date: 04-Dec-2015 10:15) Posted:



please la... NTA is based on book value of the price of the vessels/ships bought in 2007 which was at  a very high price.

The real NTA now is lower liao.. go do ur homework before u shout chiong har huat har...

Eversince u recommend buy at 15+ cents, the price only going down .. and u have the cheek to sound like u are correct.

Anyone going to listen to him and load up rickmers , do so at ur own risks becos next year when 3/4 of it' s lease is up for renegotiation it will be hell of a time and I expect Rickers to  annouce rights issue which means share price will tank.

So, anyone wants to support this guy and go buy and help push the price up to 21 cents for him to offload? go ahead , he will be laughing all the way lo.

Cheers.

 


 Useful To Me  Not Useful To Me


HazardKoh
Master
04-Dec-2015 10:52     
 
HazardKoh About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

https://17d1cc32-a-62cb3a1a-s-sites.googlegroups.com/site/researchreporte10/KGIFraser_RickmersMaritime05112015.pdf?attachauth=ANoY7covMcjzLq9iQWeBkj9EoEuuWnKQK_9yXm-A4A7cE7AHPCVtrfnDDk-qQPhZSNXXxws1e7moGgDN8iiCeW0Tg8obljCj3L5eb29GwFI97MkmqMLG7H3RnKXvnudWqm0a8N5CVLIQHn3W8kEFy_fevWJq1fPbMHgiz8VOv_Eds8zAO3wpUNmTMTEs1s50UAx_1xQEn-levvpW5lYIovKPlx1-wqfc9QrmqN-svIr3fg39oTQGbGCZ9Y6_R1A5Aq51YlK5WRyy& attredirects=0

 

Are u saying u are better than KGI Fraser Research ? we let others decide ok..

Cheers.

danger      ( Date: 04-Dec-2015 10:28) Posted:



BY FY 2017 , AND IF ALL GOES WELL ...ALMOST ALL THE DEBT WILL HAD BEEN CLEARED ... NEARLY DEBT FREE

 Useful To Me  Not Useful To Me
HazardKoh
Master
04-Dec-2015 10:50     
 
HazardKoh About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Source:

https://17d1cc32-a-62cb3a1a-s-sites.googlegroups.com/site/researchreporte10/KGIFraser_RickmersMaritime05112015.pdf?attachauth=ANoY7covMcjzLq9iQWeBkj9EoEuuWnKQK_9yXm-A4A7cE7AHPCVtrfnDDk-qQPhZSNXXxws1e7moGgDN8iiCeW0Tg8obljCj3L5eb29GwFI97MkmqMLG7H3RnKXvnudWqm0a8N5CVLIQHn3W8kEFy_fevWJq1fPbMHgiz8VOv_Eds8zAO3wpUNmTMTEs1s50UAx_1xQEn-levvpW5lYIovKPlx1-wqfc9QrmqN-svIr3fg39oTQGbGCZ9Y6_R1A5Aq51YlK5WRyy& attredirects=0

HazardKoh      ( Date: 04-Dec-2015 10:48) Posted:



I attaching the analyst report from KGI Fraser for u all to DYODD.

Is better than listening to some ppl shouting chiong har. rocket har ..sure rise to 21 cents har etc...

Whether u trust KGI Fraser Research or u trust ppl  in this thread  who says share price will chiong to 21 cents is up to u.

I think providing ACTUAL reports/analysis/facts is better than simply shouting share price will chiong har.

Cheers :)

 

HazardKoh      ( Date: 04-Dec-2015 10:42) Posted:



We had earlier flagged out the sustainability issue of RMT' s dividends on 23 June in our morning meeting, and reiterated our analysis on the weak cash flow and challenging containership operating environment in our note on 14 Aug titled ' Is the current high-yield sustainable?' . We believe there is still significant downsides for RMT, while we can consider switching out to First Ship Lease Trust.
 
Rickmers Maritime (RMT) announced its 3Q15 results yesterday. Revenues were slightly lower than 2Q15 due to lower charter rates. In view of the challenging environment, management has slashed the 0.6c per quarter dividend. In our not-rated note &rsquo Is the current high-yield sustainable?&rsquo published on 14 August 2015, we think our analysis on the company remains valid with RMT still seeing weak cashflow in a poor containership operating environment.
 
Deteriorating operating environment
RMT will be renewing/extending 3 4,250 TEU vessels in November. While the timing was not surprising, this came as a shock as the rates will be recontracted at US$6200+, significantly lower than the previous rates of US$8492-US$13027. Management said that there are many ships looking for employment, and at rates of US$6200+ the vessels are contracted just above cash breakeven levels. If rates remain at such depressed levels amidst the oversupply of vessels, RMT could see very significant downside risks.
 
Bleak outlook ahead
RMT commented that the global container supply and demand was in acute imbalance, which resulted in the plunge in daily charter rates. Capacity growth is expected to increase by 7.1%, outpacing global container trade which is expected to grow by 3.7%. However, rates could bottom out if liner owners continue to reduce capacity.
 
Liquidity preservation is utmost importance to survival 
In addition to the 3 vessels that were renewed/extended, contracts on 8 vessels will expire by end 2016. If these vessels would be similarly rechartered at rates of US$6200+, down from their previous rates of US$9381-US$25950, the reduced cashflow from operations would likely be lower than the debt repayment rate of ~US$12m per quarter. The existing cashpile of US$51.7m is of utmost importance to tide RMT through the difficult period.
 
Switch out from RMT to FSL
With liner companies reporting poor results amidst a poor operating environment, we see further downsides to RMT. We note that RMT is still in breach of loan covenant, while US$243.9m of debt will mature over FY16-17. Comparatively, we reiterate our preference for First Ship Lease Trust (S$0.172 BUY TP: S$0.26) as dividends may potentially resume while it is riding the booming tanker market. We look forward to FSL&rsquo s results after the market closes today. (Read Report)

Source : KGI Fraser Research
 Useful To Me  Not Useful To Me
HazardKoh
Master
04-Dec-2015 10:48     
 
HazardKoh About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

I attaching the analyst report from KGI Fraser for u all to DYODD.

Is better than listening to some ppl shouting chiong har. rocket har ..sure rise to 21 cents har etc...

Whether u trust KGI Fraser Research or u trust ppl  in this thread  who says share price will chiong to 21 cents is up to u.

I think providing ACTUAL reports/analysis/facts is better than simply shouting share price will chiong har.

Cheers :)

 

HazardKoh      ( Date: 04-Dec-2015 10:42) Posted:



We had earlier flagged out the sustainability issue of RMT' s dividends on 23 June in our morning meeting, and reiterated our analysis on the weak cash flow and challenging containership operating environment in our note on 14 Aug titled ' Is the current high-yield sustainable?' . We believe there is still significant downsides for RMT, while we can consider switching out to First Ship Lease Trust.
 
Rickmers Maritime (RMT) announced its 3Q15 results yesterday. Revenues were slightly lower than 2Q15 due to lower charter rates. In view of the challenging environment, management has slashed the 0.6c per quarter dividend. In our not-rated note &rsquo Is the current high-yield sustainable?&rsquo published on 14 August 2015, we think our analysis on the company remains valid with RMT still seeing weak cashflow in a poor containership operating environment.
 
Deteriorating operating environment
RMT will be renewing/extending 3 4,250 TEU vessels in November. While the timing was not surprising, this came as a shock as the rates will be recontracted at US$6200+, significantly lower than the previous rates of US$8492-US$13027. Management said that there are many ships looking for employment, and at rates of US$6200+ the vessels are contracted just above cash breakeven levels. If rates remain at such depressed levels amidst the oversupply of vessels, RMT could see very significant downside risks.
 
Bleak outlook ahead
RMT commented that the global container supply and demand was in acute imbalance, which resulted in the plunge in daily charter rates. Capacity growth is expected to increase by 7.1%, outpacing global container trade which is expected to grow by 3.7%. However, rates could bottom out if liner owners continue to reduce capacity.
 
Liquidity preservation is utmost importance to survival 
In addition to the 3 vessels that were renewed/extended, contracts on 8 vessels will expire by end 2016. If these vessels would be similarly rechartered at rates of US$6200+, down from their previous rates of US$9381-US$25950, the reduced cashflow from operations would likely be lower than the debt repayment rate of ~US$12m per quarter. The existing cashpile of US$51.7m is of utmost importance to tide RMT through the difficult period.
 
Switch out from RMT to FSL
With liner companies reporting poor results amidst a poor operating environment, we see further downsides to RMT. We note that RMT is still in breach of loan covenant, while US$243.9m of debt will mature over FY16-17. Comparatively, we reiterate our preference for First Ship Lease Trust (S$0.172 BUY TP: S$0.26) as dividends may potentially resume while it is riding the booming tanker market. We look forward to FSL&rsquo s results after the market closes today. (Read Report)

Source : KGI Fraser Research
 Useful To Me  Not Useful To Me
HazardKoh
Master
04-Dec-2015 10:42     
 
HazardKoh About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

We had earlier flagged out the sustainability issue of RMT' s dividends on 23 June in our morning meeting, and reiterated our analysis on the weak cash flow and challenging containership operating environment in our note on 14 Aug titled ' Is the current high-yield sustainable?' . We believe there is still significant downsides for RMT, while we can consider switching out to First Ship Lease Trust.
 
Rickmers Maritime (RMT) announced its 3Q15 results yesterday. Revenues were slightly lower than 2Q15 due to lower charter rates. In view of the challenging environment, management has slashed the 0.6c per quarter dividend. In our not-rated note &rsquo Is the current high-yield sustainable?&rsquo published on 14 August 2015, we think our analysis on the company remains valid with RMT still seeing weak cashflow in a poor containership operating environment.
 
Deteriorating operating environment
RMT will be renewing/extending 3 4,250 TEU vessels in November. While the timing was not surprising, this came as a shock as the rates will be recontracted at US$6200+, significantly lower than the previous rates of US$8492-US$13027. Management said that there are many ships looking for employment, and at rates of US$6200+ the vessels are contracted just above cash breakeven levels. If rates remain at such depressed levels amidst the oversupply of vessels, RMT could see very significant downside risks.
 
Bleak outlook ahead
RMT commented that the global container supply and demand was in acute imbalance, which resulted in the plunge in daily charter rates. Capacity growth is expected to increase by 7.1%, outpacing global container trade which is expected to grow by 3.7%. However, rates could bottom out if liner owners continue to reduce capacity.
 
Liquidity preservation is utmost importance to survival 
In addition to the 3 vessels that were renewed/extended, contracts on 8 vessels will expire by end 2016. If these vessels would be similarly rechartered at rates of US$6200+, down from their previous rates of US$9381-US$25950, the reduced cashflow from operations would likely be lower than the debt repayment rate of ~US$12m per quarter. The existing cashpile of US$51.7m is of utmost importance to tide RMT through the difficult period.
 
Switch out from RMT to FSL
With liner companies reporting poor results amidst a poor operating environment, we see further downsides to RMT. We note that RMT is still in breach of loan covenant, while US$243.9m of debt will mature over FY16-17. Comparatively, we reiterate our preference for First Ship Lease Trust (S$0.172 BUY TP: S$0.26) as dividends may potentially resume while it is riding the booming tanker market. We look forward to FSL&rsquo s results after the market closes today. (Read Report)

Source : KGI Fraser Research
 Useful To Me  Not Useful To Me
earlybird14
Supreme
04-Dec-2015 10:37     
 
earlybird14 About Contact  Quote this Post! Style: Combined   Mood: cool
  x 0
  x 0

 Alert Admin

http://www.hellenicshippingnews.com/

What is the spot rate of 4250 TEU container vessel now? $8045

http://infopub.sgx.com/FileOpen/RM%203Q2015%20Results%20Presentation%204Nov15_FINAL.ashx?App=Announcement& FileID=376538

Look at page 14, total of 11 vessels charter are going to expired in 2015-2016, so all will be chartered at this rate or even lower based on the downtrend of chartered rate, lower price may get in 2016. So, the revenue will drop further.

Already suspend the dividend mean they have no money to pay, the earning has to go to pay the bond interest. 

Then back to NTA,  http://www.soefart.dk/app/doc/Container_Market.pdf

10yos container vessels are 14-15mio, go to do simple calculation, the assets that posted in the report is wrongly valued at 2007 vessel price, based on present 2nd hand container vessels price, NTA is negative value.

So a stock with NTA negative, no dividend. Buy is equal to dump money to sea.

yNotcool      ( Date: 04-Dec-2015 10:26) Posted:



Why RM will need to announce right issues when they have more than enough cash on hand to meet current obligation or liabiliTy. I really don' t understand the logic here about right issue when the share price has already tanked. Why would they know raise another 200mcn note to pay the debt when most of it fall in 2017 - 2018. Look at their debt repayment shedule. Beyond the charter rate contract and on spot charter income are still not counted inside. The company is one of the few that are generating cash instead of in red.

no doubt the container market captacity will remain over supply for next 2-3 years so don' t expect it to jump to 21c or 28c prior to black Monday in short term unless dividends are resumed 

 

 Useful To Me  Not Useful To Me
danger
Supreme
04-Dec-2015 10:28     
 
danger About Contact  Quote this Post! Style: Combined   Mood: cool
  x 0
  x 0

 Alert Admin

BY FY 2017 , AND IF ALL GOES WELL ...ALMOST ALL THE DEBT WILL HAD BEEN CLEARED ... NEARLY DEBT FREE
 Useful To Me  Not Useful To Me
yNotcool
Member
04-Dec-2015 10:26     
 
yNotcool About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Why RM will need to announce right issues when they have more than enough cash on hand to meet current obligation or liabiliTy. I really don' t understand the logic here about right issue when the share price has already tanked. Why would they know raise another 200mcn note to pay the debt when most of it fall in 2017 - 2018. Look at their debt repayment shedule. Beyond the charter rate contract and on spot charter income are still not counted inside. The company is one of the few that are generating cash instead of in red.

no doubt the container market captacity will remain over supply for next 2-3 years so don' t expect it to jump to 21c or 28c prior to black Monday in short term unless dividends are resumed 

 
 Useful To Me  Not Useful To Me
danger
Supreme
04-Dec-2015 10:25     
 
danger About Contact  Quote this Post! Style: Combined   Mood: cool
  x 0
  x 0

 Alert Admin

GOT  THIS AMATUER CLOWN SAID 4 DAYS AGO .. MARK HIS WORD ..THE NEXT DAY SURE PUMP AND DUMP .. IF NOT THE FEW DAYS AFTER

UNTIL TODAY I HAVENT SEE ANY DUMPING YET , STILL 13.5 c

 

HAHAHAHAHAHAHAHHAA

 
 Useful To Me  Not Useful To Me
                                                         First   < Newer   61-80 of 189   Older>   Last  



ShareJunction Version: 27 Nov 2020 ver- All Rights Reserved. Copyright ShareJunction Pte. Ltd. Disclaimer: All prices from are delayed. ShareJunction does not provide you with any financial advice. We are not into the business of providing any investment advice. See our Terms and Conditions and Privacy Policy of using this website. Data is delayed for varying periods of time depending on the exchange, but for at least 15 minutes. Copyright © SIX Financial Information Ltd. and its licensors. All Rights reserved. Further distribution and use by third parties prohibited. SIX Financial Information and its licensors make no warranty for information displayed and accept no liability for data and prices. SIX Financial Information reserves the right to adapt and/or alter this website at any time without prior notice.

Web design by FoundationFlux. Hosted with Signetique Cloud.