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Latest Forum Topics / RickmersMaritime  Post Reply
Container ships charterer with 170+ years history
Hulumas
Supreme
29-Mar-2010 15:21     
 
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Yells: "INVEST but not TRADE please!"
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 Alert Admin 		Ya loooooooh.

ROI25per      ( Date: 29-Mar-2010 15:05) Posted:

seems like no end dropping...

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ROI25per
Master
29-Mar-2010 15:05     
 
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 Alert Admin 		seems like no end dropping...
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pharoah88
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29-Mar-2010 11:04     
 
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during  the  *gOOd  mEn  Era*

there  was  NO  INFLATION

INFLATION  IS  MAN-MADE  fOr  the  BAD  MEN

tO  bE  FiLTHY   RiCH 
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christan
Senior
29-Mar-2010 11:03     
 
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 Alert Admin 		so buy @ $0.005 and achieve a multi baggers. hahaha

pharoah88      ( Date: 29-Mar-2010 10:00) Posted:

iF  eQuity  is  WiPED Off,

the  wOrst  it  can  gO  is  S$0.005 ? ? ? ? ? ? ?



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
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pharoah88
Supreme
29-Mar-2010 10:59     
 
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Once,  SAGE  said,

"There are  NO  GOOD  MEN  ANYMORE"



178investors      ( Date: 26-Mar-2010 17:13) Posted:



170++ years history

reputable names on board... ripmer, lim how lian, lee sue loong, some ex-hk tycoon grandson, some big time ex-banker,.. etc.

decent looking management no problem lah, we still got growing cash flows leh, plus ripmer weell known in shipping mah...

ALL these meant Nothing

Just ... Nothing

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grandmaster89
Veteran
29-Mar-2010 10:47     
 
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 Alert Admin 		The problem is that most shipping trust doesn't view itself as alternative financing companies. Instead, they have the illusion that they are shipping lines and therefore take unnecessary risks. 
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Hulumas
Supreme
29-Mar-2010 10:10     
 
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Yells: "INVEST but not TRADE please!"
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 Alert Admin 		Thank you for the response.

chinton86      ( Date: 26-Mar-2010 12:06) Posted:

No.
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pharoah88
Supreme
29-Mar-2010 10:00     
 
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iF  eQuity  is  WiPED Off,

the  wOrst  it  can  gO  is  S$0.005 ? ? ? ? ? ? ?



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
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pharoah88
Supreme
29-Mar-2010 09:57     
 
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management  today  are  nOt  MANAGERS.

management  today  are  rEally  Administrators.

They  just  PROCESS  ORDERS  BLINDLY.

today,  so many documents (invoice, do,  receipt,  letter, etc)  are nOt  signed

and  imply  churn  out computers  and sent withOUT  even the company  knowing

whether they  are  Right  or  WRONG.

Like previously,  PUB  Bills  which  were  WRONG  but  just sent  out  because Management dOn't lOOk  at  anything any mOre.

How  to  manage  sOmething  withOut  sEEing  and  knOwing?      



178investors      ( Date: 26-Mar-2010 17:13) Posted:



170++ years history

reputable names on board... ripmer, lim how lian, lee sue loong, some ex-hk tycoon grandson, some big time ex-banker,.. etc.

decent looking management no problem lah, we still got growing cash flows leh, plus ripmer weell known in shipping mah...

ALL these meant Nothing

Just ... Nothing

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nickyng
Supreme
29-Mar-2010 09:40     
 
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 Alert Admin 		wah!! 28cts sellQ today...looks like going down hill day by day as no further words from manager...hee gd candidate for CFD short siah! :P
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soyabean
Member
26-Mar-2010 23:43     
 
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I dont think ple put their full faith into both SWFs, like wat u said.

In fact many are very sceptical of all investment decisions by these 2 entities. And going by what u just said, I infer u have this mindset as well.

Nobody is saying we need to follow anything they invest in, correct?? But if you are going along the line of saying they are using "citizen's money", so we are necessarily "following" their choice, which is "not a right attitude"? Or maybe you are saying why must we take thieir decisions to be correct? That would suggest you wish the decisions would be consultational with citizens. Is that practical?

I hope I am not being too confusing here. But I just think there seems to be too much opportunistic bashing of these 2 entities whenever things go wrong, by people in general. Its as though we expect all decisions made by them to be correct. And ironically, this seems to come from many of us retailer investors which i have a strong tendency to believe are making losses just like anyone else in this bear period. Apologies if i misunderstood your meaning



178investors      ( Date: 26-Mar-2010 21:34) Posted:



yah. agree with you two. so scary. Long history no quarantee of survival, so scary.

Yet in singapore, we have people put their full faith that anything Temasek, GIC has a hand in must be good and solid. Is that the right attitude? Is temasek and GIC infallible? Anything they invest in, we must follow. So GIC has a stake in minzhong, should we also buy minzhong and keep?
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nickyng
Supreme
26-Mar-2010 23:02     
 
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haha...wont collapse lah....VERY likely RIGHT issues and those non-sense...hee...juz wait n see :)
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178investors
Veteran
26-Mar-2010 21:34     
 
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yah. agree with you two. so scary. Long history no quarantee of survival, so scary.

Yet in singapore, we have people put their full faith that anything Temasek, GIC has a hand in must be good and solid. Is that the right attitude? Is temasek and GIC infallible? Anything they invest in, we must follow. So GIC has a stake in minzhong, should we also buy minzhong and keep?
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tonylim2
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26-Mar-2010 18:55     
 
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Telefunken in Germany with hundred of years of history also bankrupt in 80's.

Leman brother , hundred of years also downed.

Money don't care about past history, care more about present , no even future. No money no talk.
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commando
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26-Mar-2010 18:43     
 
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 Alert Admin 		really ah.....u think they can re-finance the loan?
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178investors
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26-Mar-2010 17:13     
 
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170++ years history

reputable names on board... ripmer, lim how lian, lee sue loong, some ex-hk tycoon grandson, some big time ex-banker,.. etc.

decent looking management no problem lah, we still got growing cash flows leh, plus ripmer weell known in shipping mah...

ALL these meant Nothing

Just ... Nothing
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commando
Veteran
26-Mar-2010 16:57     
 
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 Alert Admin 		so can buy the shares now? or avoid?
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pharoah88
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26-Mar-2010 12:27     
 
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PST  can  PiCK appropriate new ships (which are perhaps worth about half of what they cost) and BiD  from  one-tenth to one-quarter of cost at the AUCTION. 

SHIP Assets  Auction by China Banks happened in 2007. 



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
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pharoah88
Supreme
26-Mar-2010 12:21     
 
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NO-FEAR-ERS  buy  nOw  and 

bEt  spOnsOr  will  SAVE  the  SHIPS



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
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chinton86
Veteran
26-Mar-2010 12:06     
 
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 Alert Admin 		No.
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