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04-May-2010 18:13

PacShipTr US$ / PST

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PST is an ISLAND

Tuesday: 4 MAY 2010 CLOSING

USD0.300 +USD0.000

STi -43.04

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04-May-2010 17:57

Genting Sing / GenSp starts to move up again

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Tuesday: 4 MAY 2010 CLOSING

S$0.925 -S$0.015

Thursday: 13 MAY 2010

2nd CHANCE ?

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04-May-2010 17:53

Oceanus / Oceanus

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Market Making

ZERO SUM GAME

MAKER vs MAKEES

WINNER TAKES ALL

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04-May-2010 17:47

Oceanus / Oceanus

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Tuesday: 4 MAY 2010 CLOSING

S$0.375 -S$0.010

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04-May-2010 17:44

Straits Times Index / STI to cross 3000 boosted by long-term investors

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STi -43

dOw +143

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04-May-2010 17:42

Ying Li Intl / Ying Li

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Tuesday: 4 MAY 2010 CLOSING

S$0.485 -S$0.03

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04-May-2010 17:34

Straits Times Index / STI to cross 3000 boosted by long-term investors

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2901.18 -43.04

STi cOrrectiOn

cOrrecting WHAT ?

trade ?

electiOn ?

iNflatiOn ?

ecOnOmy ?

prOfitability ?

emplOyemnt ?

gOvernment ?

cOst Of LiViNG ?

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04-May-2010 17:26

FSL Trust / FSL Trust - starting to see value in it

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Share PRiCE adjustment to maintain 13.1% YiELD

grandmaster89 ( Date: 04-May-2010 16:53) Posted:

It won't be another Rickmers since it has no debt problems. Its revenue will fall though since charter rates are significantly lesser than 2007. I find it strange that Groda is unwilling to pay for the charter rates when the vessel is under COA charter with Rosneft and they had no qualms paying for it in late 08 and the whole of 2009 when charter rates were even lower. I am guessing Rosneft wishes to end the COA hence Groda needs to return the vessels back and loses the US$6 million deposit.

Operating Cash In-flow: US$16.3 million
Loan Repayment: US$8 million
Net Distributable Amount: US$8.3 million

Charter loss from 2 Vessels: US$3.73 million
Charter Income from 2 vessels at US$11K/day: US$2 million

FSLT will acquire a US$30 million vessel with 15% return in the coming weeks.

Charter Income from newly acquired vessel: US$1.1 million

Potential Net Distributable Amount: US$7.7 million or US$0.01283/quarter

This translates to an annual yield of 13.1%

Hence the market has readjusted the share price to match the previous yield. I ignored the US$6 million cash-in flow from the forfeit of their deposit. It should be able to sustain 2 quarters worth of dividend payouts in place of the income loss. FSLT has 6 months to look for a value accretive charterer. It is easy to find the charter - the question is at what rates. Should FSLT wait for crude oil prices to keep rising to boost tanker rates or search for a charterer asap ?

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04-May-2010 17:22

COSCO SHP SG / CoscoCorp

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Tuesday: 4 MAY 2010 CLOSING

24,355,000 S$1.65 -S$0.07

S$1.60 [38.2% RETRACEMENT]

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04-May-2010 17:18

COSCO SHP SG / CoscoCorp

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COSCO RETRACEMENTS:

S$1.60 [38.2%]

S$1.52 [50.0%]

S$1.44 [61.8%]

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04-May-2010 17:10

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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Tuesday: 4 MAY 2010 CLOSING

37,975,000 S$1.280 -S$0.040

50.0% RETRACEMENT LEVEL

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04-May-2010 17:07

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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YZJ RETRACEMENTS:

S$1.28 [50.0%] STRONG SUPPORT

S$1.21 [61.8%]

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04-May-2010 17:04

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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what is the THREAT frOm RONG SHENG ?

pharoah88 ( Date: 04-May-2010 16:59) Posted:

HONG KONG, May 4 2010 (Reuters) - Jiangsu Rongsheng Heavy Industries Co Ltd has appointed two Wall Street banks to help it push forward a long-awaited listing plan to raise up to $1.5 billion late this year.

Joe2020 ( Date: 04-May-2010 16:39) Posted:

UPDATE 2-China shipbuilder Rongsheng floats $1.5 bln IPO-sources

YZJ cake will be snatch soon

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04-May-2010 16:59

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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Joe2020 ( Date: 04-May-2010 16:39) Posted:

UPDATE 2-China shipbuilder Rongsheng floats $1.5 bln IPO-sources

YZJ cake will be snatch soon

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04-May-2010 14:40

Straits Times Index / STI to cross 3000 boosted by long-term investors

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it is breaking 2900 ?

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04-May-2010 14:38

Straits Times Index / STI to cross 3000 boosted by long-term investors

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RecessiOn ?

RecOvery ?

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04-May-2010 14:32

Genting Sing / GenSp starts to move up again

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SAGE WISDOM

iPunter ( Date: 04-May-2010 13:56) Posted:

Investors normally think of dividends, broker commissions, and such inconsequential things but can bear losing a sizable portion of their holdings in a downtrend...

There is much truth in the saying "penny wise, pound foolish"...

In other words, they can bear to lose $50,000 of their money, but can't bear giving $50 commision away to protect that $50,000 from vanishing before their eyes...

A very perplexing peculiarity of 'investors' (and they call that investing!)... Smiley

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04-May-2010 14:24

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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The SHiP is PERFECT

iS there an iNTERNAL TRAITOR ?

iS there an EXTERNAL TERRORIST?

Joe2020 ( Date: 04-May-2010 13:53) Posted:

Nothing wrong with the Ship and the ship is not even sinking. Just that, it is a bad weather and the waves and current is creating pitching and rolling. If the Captain is an experience Skipper and the crews are trained and seasoned with this kind of weather, they will come out of this perfect storm with calmness and great achievement.

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04-May-2010 14:20

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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nOw the mOst impOrtant QuestiOn ?

iS the S$1.295 Placement iSSUED and PAID ?

iF YES, YZJ iS SAFE

S$1.330 iS the SUPPORT.

COSCO and NOL have nO gauges

Salute ( Date: 04-May-2010 12:24) Posted:

is it from charting or just calculate 8% off the current prx.

YZJ had just have the placement issued at $1.29 how can it be drop to $1.10

pharoah88 ( Date: 04-May-2010 12:00) Posted:

COSCO back tO S$1.10 ? ? ? ?

YZJ back tO S$1.10 ? ? ? ?

NOL back tO S$1.50 ? ? ? ?

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04-May-2010 14:08

Others / DOW & STI

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Moody’s, Standard and Poor’s and Fitch, whose ratings assured investors that the newfangled investments were as safe as United States Treasury bonds, arguably bear as much responsibility for the financial crisis as the banks that put the investments together.

But the raters have mostly avoided public scrutiny, and from the look of Democrats’ current proposals to overhaul financial regulation, it looks as if they will remain off the hook.

From 2004 to 2007, agencies made hundreds of millions of dollars rating thousands of deals in residential mortgagebacked securities and collateralised debt obligations (CDOs). Their fees could exceed US$1 million ($1.37 million) per transaction, on top of annual “ratings surveillance” fees of tens of thousands of dollars.

Ninety-one per cent of the triple-A securities backed by sub-prime mortgages issued in 2007 have been downgraded to junk status, along with 93 per cent of those issued in 2006 and 53 per cent of those issued in 2005. On Jan 30 of 2008 alone, Standard and Poor’s downgraded over 6,300 sub-prime residential mortgagebacked securities and 1,900 CDOs.

Triple-A is what the raters assign to United States government debt.

Had they warned investors that the new mortgage-based products were just high-tech junk bonds, it is unlikely so many financial institutions would have loaded up on the stuff.

It is not just that rating agencies are incompetent, made wrong assumptions about the housing market and used flawed models to evaluate mortgage-backed securities.

Their business is rife with conflicts of interest.

The banks pay the raters and have an enormous incentive to shop around for ratings. Email made public last month indicates that raters give in to the temptation to manage their ratings in order to acquire more business.

A 2004 email from one Standard and Poor’s employee to another referred to a meeting to “discuss adjusting criteria for rating CDOs of real estate assets this week because of the ongoing threat of losing deals”.

A 2007 email from a Moody’s employee to a Chase banker suggested a colleague was “looking into some adjustments to his methodology that should be a benefit to you folk”.

And yet, the financial reform Bills before Congress have only vague proposals to fix the agencies.

They would have to register with the Securities and Exchange Commission (SEC), and the Senate Bill would allow the SEC to pull their registration if they were consistently wrong.

Raters would have to disclose conflicts of interest, and investors would be able to sue for blatant recklessness.

That is not enough. Some good ideas are floating around to do much better.

If raters are considered to be a public good, they should be financed like a public good, with a tax or other levy, and paid by the government.

Another option would be to let banks pay for ratings but take away their ability to choose who rates their bonds, letting the SEC decide based on raters’ performance.

If there is no way to improve raters’ track record, a more drastic step would be to eliminate them, or at least eliminate the legal requirement that some insurance companies, pension funds and other entities hold assets with high ratings, a rule that gives the raters enormous quasiregulatory power.

This is not a perfect solution. A world with no rating agencies would leave many investors at sea.

But it is not much of a life raft if rating agencies cannot do better than they did during the housing bubble.

veryone (except Wall Street bankers) seems to be outraged about Wall Street banks, which made billions by trading complex confections of dicey mortgages and then passed us the tab when the investments went belly up. But what about the agencies that bestowed triple-A ratings on many of the noxious financial products?
THE NEW YORK TIMES

pharoah88 ( Date: 04-May-2010 14:03) Posted:

today Tuesday May
Not much of a life raft?
Ratings agencies assured investors that noxious
mortgage deals were as safe as US Treasuries

It is not just that rating agencies are incompetent, made wrong assumptions about the housing market and used flawed models to evaluate mortgage-backed securities. Their business is rife with conflicts of interest.Editorial4, 2010 page 17

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