But even during recession times... March 09. They still give 0.0214!!! If they had adjusted the March09 DPU, I believe investors wont have such a shock! Now after "9Months rally" They suddenly drop this kind of bomb? Wow, I hv got nothing else to say...

2Q09: Reduces distribution policy from 46% to 13% for financial flexibility

and declares DPU of 0.6 US cents.

Investors are pampered with good DPU, and for sure there are investors who invested in shipping trust for its high DPU. So naturally, when DPU is down they all want out.. very short term investors.

As i mentioned b4, even if the NAV cut another 40%, its NAV is still over SG70cts. One thing disappointed with them is, they didnt give DPU guide.. n suddenly drop a bomb down.. many ppl cannot take it.. even im a fan of rickmers for sometime feel angry with their sudden decision. 

Not all lah. Depend on their management, how they work around on it. A reduce in DPU is a must to help them to sustain during the recession.

During recession, can't ask fr more. When good times come back, u will get back the good DPU again. Cheers pal.

For Rickmer case is more of a mistake they made during good time. Resulting in heavy cut in DPU.

If they know recession coming, they would not have commit all this mistake. Anyway no one can predict when the recession arrive also, they are human like us.  

Agreed with you too.

At least current px is more or less stable given large number of queue buy at 0.440-0.445..

I agree with you that as retail investors, it is difficult when the company is not very transparent with providing more information about their current decision to reduce the DPU. Their reason is a simple one such as "trying to conserve cash in lieu of refinancing needs". Of course, the average investor is at the mercy of the company's management decisions. So, it is also important that we invest in companies that are transparent in their dealings with shareholders (which always have the interests of their shareholders at heart). Most companies always talk big when they are doing well. However, not many companies will talk more when they face challenges or difficulties. It is the company which is honest and open with their dealings with shareholders even when admitting mistakes and taking actions to correct them which is worth a closer look as an investment candidate. Such minority of companies that show integrity and interests for their shareholders are always better than other companies that failed in this aspect. Better still is such companies that have integrity and also excellent business economics in their favour.

How to detect integrity in a management? Always look for signs that the company do what they say. It is no use babbling about a lot of things in annual reports and in the end fails to excecute all or most of the things said. Also, a company that openly admits any mistakes to shareholders and takes proactive actions to correct their mistakes is another sign of upmost integrity. Such companies display not just integrity, transparency but also wants to do well and has the interests of their shareholders at heart.

<A company's management that shows integrity and interest for shareholders is always a highly worthy candidate for investment. Shareholders of the company knows they are well taken care of and the company will always carry out their business with the interests of their shareholders at heart.> <Better still is the company that shows integrity and also has excellent business economics in their favour. This is surely a most worthy candidate for investment.>