logo transparent gif
top_white_spacer
Home Latest Stock Forum Topics MyCorner - Personal Stocks Porfolio Stock Lists Forex Investor Insights Investment News 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   81-100 of 670   Older>   Last  
Latest Forum Topics / RickmersMaritime  Post Reply
Container ships charterer with 170+ years history
Hulumas
Supreme
26-Mar-2010 11:34     
 
Hulumas About Contact  Quote this Post! Style: Flexible   Mood: cool
Yells: "INVEST but not TRADE please!"
  x 0
  x 0

 Alert Admin 		Is it S-chip stock?

christan      ( Date: 26-Mar-2010 11:08) Posted:



 

 this will total wipe off the equity 395m, making -equity,  worth nothing. better avoid
Implications of the April maturity of the US$130m loan
facility. RMT had US$110.7m in cash as of 31 Dec but the
question is if the remaining seven lenders will be willing to
release that cash to only three lenders, considering the
outstanding capital commitment of US$918.6m and the very
likely breached loan-to-value covenants on the existing
US$773.8m loans. The key determinant of the outcome is
how close the banks and the sponsor are to reaching an overall
agreement (which is in approximately month 12 of
discussions). We re-iterate that it is not in the sponsor's best
interest for RMT to default as the sponsor will end up footing
the bill for the new ships (which are perhaps worth about half
of what they cost). The lenders are probably not keen to see
a default situation either (especially if they also lend to the
sponsor). The likely outcome is that the burden will eventually
be passed to RMT's unitholders through dilution via fresh
equity.
Uncertainty driving volatility - witness thehttp://www.remisiers.org/research//Rickmers%20Maritime-100325-OIR.pdf
 Useful To Me  Not Useful To Me
christan
Senior
26-Mar-2010 11:08     
 
christan About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

 

 this will total wipe off the equity 395m, making -equity,  worth nothing. better avoid
Implications of the April maturity of the US$130m loan
facility. RMT had US$110.7m in cash as of 31 Dec but the
question is if the remaining seven lenders will be willing to
release that cash to only three lenders, considering the
outstanding capital commitment of US$918.6m and the very
likely breached loan-to-value covenants on the existing
US$773.8m loans. The key determinant of the outcome is
how close the banks and the sponsor are to reaching an overall
agreement (which is in approximately month 12 of
discussions). We re-iterate that it is not in the sponsor's best
interest for RMT to default as the sponsor will end up footing
the bill for the new ships (which are perhaps worth about half
of what they cost). The lenders are probably not keen to see
a default situation either (especially if they also lend to the
sponsor). The likely outcome is that the burden will eventually
be passed to RMT's unitholders through dilution via fresh
equity.
Uncertainty driving volatility - witness thehttp://www.remisiers.org/research//Rickmers%20Maritime-100325-OIR.pdf
 Useful To Me  Not Useful To Me


Hulumas
Supreme
24-Mar-2010 14:19     
 
Hulumas About Contact  Quote this Post! Style: Flexible   Mood: cool
Yells: "INVEST but not TRADE please!"
  x 0
  x 0

 Alert Admin

SELL and AVOID.



pharoah88      ( Date: 24-Mar-2010 13:41) Posted:

CSAV  is nOw a  pOOr  MAN 

nUt  nOt   a   BANKRUPT  anymOre.

CSAV   nOw  pays  BiLLs  at  lEast



pharoah88      ( Date: 24-Mar-2010 11:02) Posted:

Rickmers Maritime: Vessel secures new employment at 65% discount 


Summary: Rickmers Maritime (RMT) announced that its vessel - Kaethe C. Rickmers (formerly Maersk Djibouti) - has secured employment with South American liner CSAV. The agreement is for a one-year charter at US$8,288 a day, and also gives CSAV the option to renew the charter for another 12 months at US$23,888 a day. We note that the vessel was earlier earning US$22,708 a day with Maersk. The US$8,288 rate is below our estimate of US$10,000 a day - but it is a far better alternative to not securing any employment at all (which had seemed a likely possibility a few weeks ago).
We note that CSAV is a current charterer of Pacific Shipping Trust;                      the liner has made great strides in resolving its own financial difficulties.
Meanwhile, RMT's auditor Pricewaterhouse Coopers (PwC) said it was not in a position to express an opinion on the trust's FY09 results due to unresolved negotiations on maturing loans and large capital commitments. RMT's unit price fell 26% yesterday as a result (even though there was no new information except for the Business Times reporting that its sources say a deal has yet to be struck with the banks). We will be adjusting our earnings estimates to reflect the new CSAV charter.
In the meantime, we maintain our SELL rating and S$0.18 fair value. (Meenal Kumar)
 Useful To Me  Not Useful To Me
pharoah88
Supreme
24-Mar-2010 13:41     
 
pharoah88 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

CSAV  is nOw a  pOOr  MAN 

nUt  nOt   a   BANKRUPT  anymOre.

CSAV   nOw  pays  BiLLs  at  lEast



pharoah88      ( Date: 24-Mar-2010 11:02) Posted:

Rickmers Maritime: Vessel secures new employment at 65% discount 


Summary: Rickmers Maritime (RMT) announced that its vessel - Kaethe C. Rickmers (formerly Maersk Djibouti) - has secured employment with South American liner CSAV. The agreement is for a one-year charter at US$8,288 a day, and also gives CSAV the option to renew the charter for another 12 months at US$23,888 a day. We note that the vessel was earlier earning US$22,708 a day with Maersk. The US$8,288 rate is below our estimate of US$10,000 a day - but it is a far better alternative to not securing any employment at all (which had seemed a likely possibility a few weeks ago).
We note that CSAV is a current charterer of Pacific Shipping Trust;                      the liner has made great strides in resolving its own financial difficulties.
Meanwhile, RMT's auditor Pricewaterhouse Coopers (PwC) said it was not in a position to express an opinion on the trust's FY09 results due to unresolved negotiations on maturing loans and large capital commitments. RMT's unit price fell 26% yesterday as a result (even though there was no new information except for the Business Times reporting that its sources say a deal has yet to be struck with the banks). We will be adjusting our earnings estimates to reflect the new CSAV charter.
In the meantime, we maintain our SELL rating and S$0.18 fair value. (Meenal Kumar)
 Useful To Me  Not Useful To Me
grandmaster89
Veteran
24-Mar-2010 13:33     
 
grandmaster89 About Contact  Quote this Post! Style: Fundamental   Mood: peace
  x 0
  x 0

 Alert Admin 		At 33 cents, the market is expect an annualized dividend of around 4.5 SG cents or 3.3 US cents.

If this is not possible, I expect it to fall even further. I think there is a good chance it might do a Saizen and suspend dividend for a long period. If I was a bank, I wouldn't approve of dividend payouts...every cent you make should flow back to me.

The other 2 shipping trust are offering an attractive 14% yield for relatively lesser risks...
 Useful To Me  Not Useful To Me


commando
Veteran
24-Mar-2010 13:13     
 
commando About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		should I buy back?????????? wait for the price to plummet further?????
 Useful To Me  Not Useful To Me
pharoah88
Supreme
24-Mar-2010 12:44     
 
pharoah88 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

aT  65%  DIScOunt,  the 35%  fEE  iS  nOt  EvEn  EnOugh   tO  cOver  VARiABLE  cOsts.

What  abOut  the  Very  High  FiXED  cOst  Of  thE SHiP?



Hulumas      ( Date: 24-Mar-2010 11:18) Posted:

SHORT? or LONG?

pharoah88      ( Date: 24-Mar-2010 11:02) Posted:

Rickmers Maritime: Vessel secures new employment at 65% discount 


Summary: Rickmers Maritime (RMT) announced that its vessel - Kaethe C. Rickmers (formerly Maersk Djibouti) - has secured employment with South American liner CSAV. The agreement is for a one-year charter at US$8,288 a day, and also gives CSAV the option to renew the charter for another 12 months at US$23,888 a day. We note that the vessel was earlier earning US$22,708 a day with Maersk. The US$8,288 rate is below our estimate of US$10,000 a day - but it is a far better alternative to not securing any employment at all (which had seemed a likely possibility a few weeks ago).
We note that CSAV is a current charterer of Pacific Shipping Trust;                      the liner has made great strides in resolving its own financial difficulties.
Meanwhile, RMT's auditor Pricewaterhouse Coopers (PwC) said it was not in a position to express an opinion on the trust's FY09 results due to unresolved negotiations on maturing loans and large capital commitments. RMT's unit price fell 26% yesterday as a result (even though there was no new information except for the Business Times reporting that its sources say a deal has yet to be struck with the banks). We will be adjusting our earnings estimates to reflect the new CSAV charter.
In the meantime, we maintain our SELL rating and S$0.18 fair value. (Meenal Kumar)
 Useful To Me  Not Useful To Me
pharoah88
Supreme
24-Mar-2010 12:41     
 
pharoah88 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

jUst  chEck  whErE  arE  ALL  Rickmers'  SHiPS  flOating?

arE  thEy  ALL  flOating  at  BATAM  BAY?
 Useful To Me  Not Useful To Me


pharoah88
Supreme
24-Mar-2010 12:39     
 
pharoah88 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		nO  Earnings  repOrted ?

pharoah88      ( Date: 23-Mar-2010 10:15) Posted:



nO  NAV  ????

can  gO  as lOw  as  market  wants

HiGH  RiSK  Of  sUspensiOn. 

 
Rickmers Symbol:
B1ZU 		Currency:
Singapore Dollar
Last: 0.315 -0.095 Vol (K): 11268.0
Trading
Updated Time 23-Mar 09:50
Open 0.3 High 0.34 Low 0.265
Prev Close 0.41 Buy - Sell -
Volume(K) 11268.0 Buy Vol(K) - Sell Vol(K) -
52 Wk High 0.64 52 Wk Low 0.325 52 Wk Avg Vol 1294.233
All Time High 1.72 All Time Low 0.32    
Comments No Info

*Technical Analysis Information is updated Daily
Technicals
RSI 60.85 Williams %R -28.57
Comments (RSI) No Info Comments (W%R) No Info

 Useful To Me  Not Useful To Me
pharoah88
Supreme
24-Mar-2010 12:34     
 
pharoah88 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

SHIPS are girls.

In this sector,  it lOOks like there are nO mOre MAN  that  RMT  must  offer his girls to PST's  MAN, CSAV, at a Lay Long 65% DIScOunt.

mOreOver,  CSAV is  a  pOOr MAN  cOmpare  tO  PIL  which is PST's RiCH MAN. 

RMT  is sO dEsparatE  that  EvEn  his  GIRLS  cannOt  attract  Other  RiCH MEN? 

Are RMT's GIRLS  gOOd  enOugh  fOr  the  gOOd  MEN?
 Useful To Me  Not Useful To Me
Andrew
Master
24-Mar-2010 12:33     
 
Andrew About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		WOW......so hungry.

pharoah88      ( Date: 24-Mar-2010 11:02) Posted:

Rickmers Maritime: Vessel secures new employment at 65% discount 


Summary: Rickmers Maritime (RMT) announced that its vessel - Kaethe C. Rickmers (formerly Maersk Djibouti) - has secured employment with South American liner CSAV. The agreement is for a one-year charter at US$8,288 a day, and also gives CSAV the option to renew the charter for another 12 months at US$23,888 a day. We note that the vessel was earlier earning US$22,708 a day with Maersk. The US$8,288 rate is below our estimate of US$10,000 a day - but it is a far better alternative to not securing any employment at all (which had seemed a likely possibility a few weeks ago).
We note that CSAV is a current charterer of Pacific Shipping Trust;                      the liner has made great strides in resolving its own financial difficulties.
Meanwhile, RMT's auditor Pricewaterhouse Coopers (PwC) said it was not in a position to express an opinion on the trust's FY09 results due to unresolved negotiations on maturing loans and large capital commitments. RMT's unit price fell 26% yesterday as a result (even though there was no new information except for the Business Times reporting that its sources say a deal has yet to be struck with the banks). We will be adjusting our earnings estimates to reflect the new CSAV charter.
In the meantime, we maintain our SELL rating and S$0.18 fair value. (Meenal Kumar)
 Useful To Me  Not Useful To Me
pharoah88
Supreme
24-Mar-2010 12:27     
 
pharoah88 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Depending on the profile composition of  existing  shareholders,  are the majority shorters or longers?

because  Longers  Die DiE  still  will  Long Die DiE.

and shorters  will short  here and go elsewhere to long.

may be return later for  an after-long.

 
 Useful To Me  Not Useful To Me


Hulumas
Supreme
24-Mar-2010 11:18     
 
Hulumas About Contact  Quote this Post! Style: Flexible   Mood: cool
Yells: "INVEST but not TRADE please!"
  x 0
  x 0

 Alert Admin 		SHORT? or LONG?

pharoah88      ( Date: 24-Mar-2010 11:02) Posted:

Rickmers Maritime: Vessel secures new employment at 65% discount 


Summary: Rickmers Maritime (RMT) announced that its vessel - Kaethe C. Rickmers (formerly Maersk Djibouti) - has secured employment with South American liner CSAV. The agreement is for a one-year charter at US$8,288 a day, and also gives CSAV the option to renew the charter for another 12 months at US$23,888 a day. We note that the vessel was earlier earning US$22,708 a day with Maersk. The US$8,288 rate is below our estimate of US$10,000 a day - but it is a far better alternative to not securing any employment at all (which had seemed a likely possibility a few weeks ago).
We note that CSAV is a current charterer of Pacific Shipping Trust;                      the liner has made great strides in resolving its own financial difficulties.
Meanwhile, RMT's auditor Pricewaterhouse Coopers (PwC) said it was not in a position to express an opinion on the trust's FY09 results due to unresolved negotiations on maturing loans and large capital commitments. RMT's unit price fell 26% yesterday as a result (even though there was no new information except for the Business Times reporting that its sources say a deal has yet to be struck with the banks). We will be adjusting our earnings estimates to reflect the new CSAV charter.
In the meantime, we maintain our SELL rating and S$0.18 fair value. (Meenal Kumar)
 Useful To Me  Not Useful To Me
pharoah88
Supreme
24-Mar-2010 11:02     
 
pharoah88 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Rickmers Maritime: Vessel secures new employment at 65% discount 


Summary: Rickmers Maritime (RMT) announced that its vessel - Kaethe C. Rickmers (formerly Maersk Djibouti) - has secured employment with South American liner CSAV. The agreement is for a one-year charter at US$8,288 a day, and also gives CSAV the option to renew the charter for another 12 months at US$23,888 a day. We note that the vessel was earlier earning US$22,708 a day with Maersk. The US$8,288 rate is below our estimate of US$10,000 a day - but it is a far better alternative to not securing any employment at all (which had seemed a likely possibility a few weeks ago).
We note that CSAV is a current charterer of Pacific Shipping Trust;                      the liner has made great strides in resolving its own financial difficulties.
Meanwhile, RMT's auditor Pricewaterhouse Coopers (PwC) said it was not in a position to express an opinion on the trust's FY09 results due to unresolved negotiations on maturing loans and large capital commitments. RMT's unit price fell 26% yesterday as a result (even though there was no new information except for the Business Times reporting that its sources say a deal has yet to be struck with the banks). We will be adjusting our earnings estimates to reflect the new CSAV charter.
In the meantime, we maintain our SELL rating and S$0.18 fair value. (Meenal Kumar)
 Useful To Me  Not Useful To Me
pharoah88
Supreme
23-Mar-2010 18:02     
 
pharoah88 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

PST  guarantEEs  USD0.030  tO  USD0.036  dividends  per  annum, as  a  Going  cOncern.

current  dividend  Yield  is  13%  versus  target  Yield  Of  12% per annum.

currently,  its  BETA  is  lOw.

bUt  when  the  TiMiNG  is  RiGHT  fOr   rE-rating,  its  BETA  can   rOcket  SKY  HiGH  tOO.
 Useful To Me  Not Useful To Me
investment
Senior
23-Mar-2010 17:57     
 
investment About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin
PwC flags Rickmers loan negotiations


 

By VINCENT WEE

 

RICKMERS Maritime Trust has had its auditors PricewaterhouseCoopers come out to issue a disclaimer on its full-year results because of unresolved loan negotiations with its banks.

 

Rickmers has bank borrowings of US$128.7 million, unfulfilled capital commitments of US$138.0 million for not taking delivery of certain vessels and an existing capital commitment of US$780.7 million, all of which are due within the next 12 months, PwC said. It added that the trust has short-term borrowings of US$128.7 million and also has contingent liabilities with respect to the unfulfilled capital commitments.

PwC noted that discussions on financing arrangements for the commitments are ongoing, as are negotiations with Rickmers' current banks to amend loan covenants on its borrowings. However, it highlighted the seriousness of Rickmers' situation.

'The appropriateness of the going concern assumption on which the financial statements are prepared is dependent on the continued support of the group's banks, related parties and the group's ability to generate sufficient cash from operations to meet its obligations as and when they fall due,' PwC said. 'These conditions indicate the existence of a material uncertainty that may cast significant doubt on the ability of the group and the trust to continue as going concerns.'

'We are not in a position to, and do not, express an opinion on the accompanying financial statements of the group and the trust,' PwC concluded.

At its FY09 full-year results briefing last month Rickmers said it has been in discussions with creditors on the resolution of its financing issues since the start of the year. These include its value-to-loan covenants, the refinancing of its US$130 million top-up loan facility maturing in April and the financing of its orderbook. None of these proposals have been accepted so far, added Rickmers.

Yesterday CFO Quah Ban Huat said: 'We are still working at it with the banks and we're hopeful that we can come up with an agreement.' Market sources said they believed there has been no breakthrough as yet with Rickmers' banks, believed to be BNP, ING, Fortis, Commerzbank and Bank of Nova Scotia.

 Useful To Me  Not Useful To Me
soyabean
Member
23-Mar-2010 17:36     
 
soyabean About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

sO heARtWarmInG, tO hEAr sOMe adviCe coMinG frOM phARoah88



pharoah88      ( Date: 23-Mar-2010 16:50) Posted:

cOnsider  Genting HK US$  which  HiGH  BETA

pharoah88      ( Date: 23-Mar-2010 16:47) Posted:

cOnsier  

1) Pacific Shipping Trust  (PST)

2) Genting HK US$

bOth  are  On  recOvery  PATH,  

EspEcially  Genting HK US$  On  strOng  recOvery  jUst  nOw 
 Useful To Me  Not Useful To Me
Hulumas
Supreme
23-Mar-2010 16:53     
 
Hulumas About Contact  Quote this Post! Style: Flexible   Mood: cool
Yells: "INVEST but not TRADE please!"
  x 0
  x 0

 Alert Admin 		Yes, I did say I much much prefered Genting HK to Genting Sp previous years ago!!!

pharoah88      ( Date: 23-Mar-2010 16:50) Posted:

cOnsider  Genting HK US$  which  HiGH  BETA

pharoah88      ( Date: 23-Mar-2010 16:47) Posted:

cOnsier  

1) Pacific Shipping Trust  (PST)

2) Genting HK US$

bOth  are  On  recOvery  PATH,  

EspEcially  Genting HK US$  On  strOng  recOvery  jUst  nOw 
 Useful To Me  Not Useful To Me
Hulumas
Supreme
23-Mar-2010 16:50     
 
Hulumas About Contact  Quote this Post! Style: Flexible   Mood: cool
Yells: "INVEST but not TRADE please!"
  x 0
  x 0

 Alert Admin 		You are not sincere enough, forget it!

commando      ( Date: 23-Mar-2010 16:47) Posted:

hahaha...i mean any recommendation? 

 Useful To Me  Not Useful To Me
soloman
Master
23-Mar-2010 16:50     
 
soloman About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

downtrend just started

still some way to go .........................
 Useful To Me  Not Useful To Me
                                                         First   < Newer   81-100 of 670   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.