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Latest Forum Topics / PacShipTr US$  Post Reply
PST
grandmaster89
Veteran
06-Apr-2010 12:52     
 
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 Alert Admin 		The RNAV of all the shipping trust is significantly lower since the real value of the vessels are actually a lot lesser than the book value. 
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pharoah88
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06-Apr-2010 11:49     
 
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iNTRiNSiC  VALUE

USD0.6325



pharoah88      ( Date: 23-Mar-2010 10:28) Posted:



In  its latest  Annual Report as at 31 December 2009  just released, 

its  NAV  rose  frOm  USD0.380 (2008)  tO  USD0.400 (2009).

WiTH  annual earnings Of USD0.0465  lOcked  iN  Over  nExt  FIVE YEARS,

its  LEAST  iNtrinsic  VALUE  is  USD(0.400 + [0.0465 x 5])

= USD (0.400 + 0.2325)

= USD (0.6325)  

Non-Cancellation Charter Agreements  lOcked  iN  TiLL  2016.

PacShipTr US$ Symbol:
P48U 		Currency:
US Dollar
Last: 0.28 + 0.0050 Vol (K): 42.0
Trading
Updated Time 23-Mar 09:43
Open 0.28 High 0.28 Low 0.28
Prev Close 0.275 Buy - Sell -
Volume(K) 42.0 Buy Vol(K) - Sell Vol(K) -
52 Wk High 0.28 52 Wk Low 0.15 52 Wk Avg Vol 348.429
All Time High 0.465 All Time Low 0.13    
Comments Near 52 wk high

*Technical Analysis Information is updated Daily
Technicals
RSI 54.47 Williams %R -50.0
Comments (RSI) No Info Comments (W%R) No Info

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pharoah88
Supreme
06-Apr-2010 11:43     
 
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Dividend cOming AGAiN*

gOOd  cOnsistent  YiELD* 

Quarter After Quarter* 



pharoah88      ( Date: 23-Mar-2010 11:02) Posted:

Pacific Shipping Trust is the first business trust listed on the SGX-ST. It provides structured financing solutions to established shipping companies, thereby generating visible and stable cashflow stream through long-term charters. By acquiring vessels and leasing them to reputable charterers on long-term bareboat or time charters, PST seeks to generate a steady stream of high-yielding income for its Unitholders.

The trustee-manager of PST is PST Management Pte. Ltd., a wholly-owned subsidiary of Pacific International Lines (Private) Limited, one of the biggest container shipping companies in the world.

Bloomberg: PST SP Reuters: PFST.SI

Paid up capital : 589.75 million units

Market Capitalisation : US$ 162.2 million

Gross Revenue : US$ 62.0 million (FY09)

Distribution per Unit : 3.615 US cents (FY09)

Distribution yield : 13.1% (1)



(1) Based on closing price of US$0.275 as at 20 January 2010
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pharoah88
Supreme
29-Mar-2010 16:28     
 
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 Alert Admin 		Will  PST  be  a  WHITE  KNIGHT  to  RMT ?
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pharoah88
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26-Mar-2010 17:37     
 
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 Alert Admin 		DIVIDENDS coming
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pharoah88
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26-Mar-2010 12:41     
 
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PST  will create HIGH YIELD (@ 20% or mOre) NEW REVENUE with  such "gOOd  bUy"  NEW SHIPS  frOm  RMT AUCTION  if  the  SHIPS  are  suitable.

this is the BEST TiME  to  buy  NEW SHIPS  at  low  low  low  COST.

*PST  is  financially in  this  PRIVILEGED  POSITION*

to  DOUBLE  its  20% Plus  HiGH YIELD CAPACITY
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pharoah88
Supreme
26-Mar-2010 12:35     
 
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PST  can  PiCK appropriate RMT 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


Hulumas      ( Date: 24-Mar-2010 14:58) Posted:

Too slow moving and relatively long term yet low yield.

pharoah88      ( Date: 24-Mar-2010 11:09) Posted:



Rickmers Maritime: Vessel secures new employment at 65% great discounts

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 for RICKMERS MARITIME             . (Meenal Kumar)
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Hulumas
Supreme
24-Mar-2010 14:58     
 
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Yells: "INVEST but not TRADE please!"
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 Alert Admin 		Too slow moving and relatively long term yet low yield.

pharoah88      ( Date: 24-Mar-2010 11:09) Posted:



Rickmers Maritime: Vessel secures new employment at 65% great discounts

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 for RICKMERS MARITIME             . (Meenal Kumar)
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pharoah88
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24-Mar-2010 11:09     
 
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Rickmers Maritime: Vessel secures new employment at 65% great discounts

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 for RICKMERS MARITIME             . (Meenal Kumar)
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pharoah88
Supreme
24-Mar-2010 09:12     
 
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USD0.330  >>

USD0.380   >>>

USD0.480    >>>>

USD0.540     >>>>>

USD0.680 
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pharoah88
Supreme
23-Mar-2010 19:22     
 
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Dividend Yield  2009 is 13 years  Of  FD  interest at 1% per annum 

can  CPF  ANNUITY  YIELD  be  LIKE  THIS ?



pharoah88      ( Date: 23-Mar-2010 14:03) Posted:



Actual  Dividend Yield  2009 (Full Year) 

based on USD0.275 (current PRiCE)  is 13%  per  year.

That is equivalent  tO  13 years  Of  FD  interest at 1% per annum 

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pharoah88
Supreme
23-Mar-2010 14:06     
 
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Many TiMES  bEttEr  than

CPF  ANNUITY.

BEST  Of  ALL,  CAPITAL  STiLL  grOws   grOWs   GROWS
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pharoah88
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23-Mar-2010 14:03     
 
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Actual  Dividend Yield  2009 (Full Year) 

based on USD0.275 (current PRiCE)  is 13%  per  year.

That is equivalent  tO  13 years  Of  FD  interest at 1% per annum 
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pharoah88
Supreme
23-Mar-2010 13:46     
 
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PST  is  vEry  prOfitablE.

It is  gOOd  fO  PST to  issuE   RiGHTS   nOw  

tO  bUild  NEW  SHiPS  at  Half - PRiCE

fOr  gOOd  custOmers  whO  can  make  FULL PAYMENT 

                                                  FY2009

                                              (USD Million)

 

DPU (US Cent)                 3.615   (DiVidend  YiELD  fOrecast  @ 12%)                    Income Distributed             21.3    (34.35%  Of  Revenue)                                                62.0

Distributable Income           27.1    (43.71%  Of  Revenue)

Revenue

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pharoah88
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23-Mar-2010 11:54     
 
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FY2009 and FY2009 respectively.

3.615

21.3

27.1

62.0

FY2009

(USD Million)

0.827

4.9

7.0

15.6

Q4 FY2009

(USD Million)

0.93

5.5

6.3

14.5

Q4 FY2008

(USD Million)

(11%)

(11%)

12%

8%

YoY Change

%

4.09

16.1

18.5

44.6

FY2008

(USD Million)

(12%)

32%

46%

39%

YoY Change

%

Income Distributed

DPU (US Cent) (1) (2)

Distributable Income

Revenue

(1) 75% increase in number of units issued as of end Q4 FY2008 to 589,750,000 Units, after completion of the Preferential Offering in Q3 FY2008.

(2) The lower per unit distribution is mainly due to the implementation of PST’s revised distribution policy, which was announced in July, as well as an increase in the number of

issued units on September 30, 2008.

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pharoah88
Supreme
23-Mar-2010 11:36     
 
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Versatile workhorse fleet of four Panamax container vessels and eight Handysize container vessels

 

Long-term, fixed rate charters – 10 vessels bareboat charters to PIL for 6 – 8 years;  2 vessels on timecharters to CSAV for 5 years

pharoah88      ( Date: 23-Mar-2010 11:31) Posted:

   Vessel                           TEU             Charter (yrs)          Built

CSAV LAJA                   4,250                    5                     2008

CSAV LAUCA               4,250                    5                     2008

KOTA ANGGERIK      1,454                    8                     1999

KOTA ANGGUN          1,454                    8                     1999

KOTA ARIF                  1,454                    8                     1999

KOTA AZAM               

KOTA KAYA                 3,081                   9                      2005

KOTA KADO                3,081                   9                       2005

KOTA NABIL               1,800                   8                       2008

KOTA NAGA                1,800                   8                       2008

KOTA RANCAK             943                  10                      2005

KOTA RAJIN                  943                  10                      2005

*T O T A L* 25,9641,454                   8                      1999
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pharoah88
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23-Mar-2010 11:31     
 
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   Vessel                           TEU             Charter (yrs)          Built

CSAV LAJA                   4,250                    5                     2008

CSAV LAUCA               4,250                    5                     2008

KOTA ANGGERIK      1,454                    8                     1999

KOTA ANGGUN          1,454                    8                     1999

KOTA ARIF                  1,454                    8                     1999

KOTA AZAM               

KOTA KAYA                 3,081                   9                      2005

KOTA KADO                3,081                   9                       2005

KOTA NABIL               1,800                   8                       2008

KOTA NAGA                1,800                   8                       2008

KOTA RANCAK             943                  10                      2005

KOTA RAJIN                  943                  10                      2005

*T O T A L* 25,9641,454                   8                      1999

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pharoah88
Supreme
23-Mar-2010 11:21     
 
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Outlook

 Market appears poised for a gradual recovery and expected recovery in global trade will likely boost demand for shipping

 PST’s conservative financial structure now puts it in a position to capture growth opportunities

 Current low asset values present value-accretive opportunities

 Constantly on the look-out for potential acquisitions that meet our investment criteria which adds value to our unitholders

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pharoah88
Supreme
23-Mar-2010 11:06     
 
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About

1. First business trust listed on the Singapore Exchange in 2006

2. Approximately US$300 Million contracted charter income from 2010 - 2016

3. Young fleet of 12 ships with an average age profile of 5 years

4. Ability to capture value-accretive acquisitions

5. Financing fully in place with no LTV covenants and no immediate refinancing needs

6. Maintains prudent capital and debt management strategy

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pharoah88
Supreme
23-Mar-2010 11:02     
 
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Pacific Shipping Trust is the first business trust listed on the SGX-ST. It provides structured financing solutions to established shipping companies, thereby generating visible and stable cashflow stream through long-term charters. By acquiring vessels and leasing them to reputable charterers on long-term bareboat or time charters, PST seeks to generate a steady stream of high-yielding income for its Unitholders.

The trustee-manager of PST is PST Management Pte. Ltd., a wholly-owned subsidiary of Pacific International Lines (Private) Limited, one of the biggest container shipping companies in the world.

Bloomberg: PST SP Reuters: PFST.SI

Paid up capital : 589.75 million units

Market Capitalisation : US$ 162.2 million

Gross Revenue : US$ 62.0 million (FY09)

Distribution per Unit : 3.615 US cents (FY09)

Distribution yield : 13.1% (1)



(1) Based on closing price of US$0.275 as at 20 January 2010

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