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Entering the Middle East
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jackjames
Elite |
11-Dec-2006 14:41
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STXPO gave huge dividends last year in December, any news on the dividend paid this year December? Do they announce anything yet?? anyone know? |
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jackjames
Elite |
30-Nov-2006 15:27
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she bought it last year at 0.97... I am helping her to queue to sell at 0.97 !! not buy! don't really wanna keep it.. |
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IreneL
Senior |
30-Nov-2006 15:20
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Hi iPunter Agree its most distressing witnessing the prices of counters one is interested in, waiting at the opportune time to buy in, but never get the chance because they keep inching northwards. Hi jackjames Pardon my ignorance but why are you Q'ing at 0.97 when its at 0.93 now??? |
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jackjames
Elite |
30-Nov-2006 09:51
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er.. my gf bought 8 lots at 0.97 last year... their dividends are good.. now, I help her to queue at 0.97... |
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iPunter
Supreme |
30-Nov-2006 09:32
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Sometimes, it's so stressful being a spectator, agree? |
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jackjames
Elite |
30-Nov-2006 09:29
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why why, tell me why? why it shoot to 0.94 again? like last time, it was in 0.94 and all the way to 0.78.. and now back again to 0.94, impressive yo yo... |
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BULLBEAR
Member |
09-Nov-2006 11:12
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Can't imagine that after the announcement of a set of "poor" results, this counter can still make me some "kopi" money today! I think both Goldman Sachs and CLSA really "walk the talk", buying up and everybody is dumping. Well done! STX PO. |
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BULLBEAR
Member |
07-Nov-2006 11:05
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Hi Nostradamus You have any idea what causes this stock to be so voilate in recent trading? It has a see-saw pattern and seems like major houses are dumping the stock and others are picking up. What is your view on this stock in the short term? Down trend? I personally think that it presents a value buy now. |
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Nostradamus
Supreme |
07-Nov-2006 11:04
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Goldman Sachs said it expects STX Pan Ocean to post US$65 mln in gross profit in the third quarter compared to the US$50 mln posted in the previous quarter, but it added that paper losses from freight forwarding agreements (FFAs) amounting to about US$40 mln may cap net profit to the "low single-digit" levels. Nonetheless, it advised investors to focus on the third quarter gross profit, noting the company's chartered-in gross margins of 5.5% from 3.7% in the second quarter, and owned fleet gross margins of 26% from 23% in the preceding quarter. "This would be the third sequential rise in overall margins since the fourth quarter (2005) trough," Goldman Sachs said. The brokerage has a target price of $1.30. "Should the share price fall on the back of the expected FFA paper losses, we recommend investors accumulate the stock, bearing in mind (that) FFA losses are paper losses resulting from timing differences, which we would expect to reverse once the cargo is booked," Goldman Sachs said. |
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Nostradamus
Supreme |
13-Oct-2006 17:48
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CLSA has initiated coverage with an "outperform" rating and target price of $0.96, citing prospects of improved earnings in the second half of this year. "With STX poised to deliver a sharp earnings turnaround in the upcoming third and fourth quarter results from second-quarter lows, we see STX shares doing relatively well in the near term," CLSA said in a note to clients. But it said that while rising bulk carrier rates suggest that STX's cash earnings should improve in the second half, long-term charter rates will remain volatile in the long run. |
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Nostradamus
Supreme |
12-Oct-2006 12:39
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Merrill Lynch said it has started covering with a "buy" rating and a price target of $1.06 sgd per share due to the stock's attractive valuation. The brokerage said STX Pan Ocean has been a laggard to its dry bulk shipping peers in the region, underperforming the sector by 26% in the past six months, but that it believes the firm's current share price already reflects the expected decline in earnings for 2006. Moreover, Merrill Lynch believes the worst is over for STX Pan Ocean as the expected uptrend in dry bulk rates will boost its earnings going forward. "With more chartered-in vessels and the continuation of the multi-year cyclical recovery in dry bulk rates, we forecast an earnings growth of 61% in 2007," it said in a note. Merrill Lynch said while it expects net profit to fall to US$152m this year from US$280m last year, it expects a recovery in the next two years to a net profit of US$244m in 2007 and US$328m in 2008. |
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Nostradamus
Supreme |
11-Oct-2006 19:26
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Lehman Brothers says it has started covering with an "overweight" rating and a price target of $1.10. "Our bullish view on the stock is grounded on our favourable supply-demand outlook for bulk shipping that will likely underpin a rising rate environment over the next 2-3 years," Lehman Brothers said in a note to clients. "Bulk shipping rates have already begun to recover and should continue to increase 20% per annum from calendar years 2007-2008," it said. Lehman Brothers said market was overly conservative in trading STX Pan Ocean stock at a 40% discount to its realizable NAV. |
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Nostradamus
Supreme |
29-Sep-2006 16:21
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It has formed a new China subsidiary, Qingdao STX International Logistics, to strengthen its global shipping network and diversify its revenue base. The new unit will be 100% owned by STX through its wholly owned Shanghai unit, STX Pan Ocean (Shanghai), and will have a registered capital of RMB8.0m. Qingdao STX will operate as a third-party logistics contractor in Qingdao, expanding STX's regional presence and eventually creating a new revenue earning stream for the group, STX said in a statement. |
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awesome
Member |
19-Sep-2006 13:11
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Hi Nostradamus, Thanks for the explanation. Cheers. Jeremy Chan |
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Nostradamus
Supreme |
19-Sep-2006 12:12
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But while the rising bulk shipping rates will benefit it over the longer term, an analyst with a foreign brokerage said paper losses incurred by the company from its forward freight agreements (FFAs) will soar as a result of rising rates. Unrealized losses of some US$24m was the key reason blamed by STX Pan Ocean for the 96% yoy drop in its second quarter net profit to US$4.55m. "The company expected rates to fall, but it's been strengthening since the second quarter. It remains to be seen whether the rates will remain strong in the fourth quarter, which is a seasonally slow quarter," the analyst said. |
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Nostradamus
Supreme |
19-Sep-2006 10:42
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Baltic Dry Index closed at 4,258 on 15/9, more than double its year low of 2,033 in Jan. The rise in the index is demand-led, particularly from China's iron ore imports, steel and cement exports, coal and grain. A recent Goldman Sachs report said more Chineses imports from Brazil and Chinese exports of cement and steel were chiefly responsible for the climb. The key export destination have been US and Mideast, the latter driven by the construction boom fuelled by oil money. STX Shipbuilding, STX PO's major shareholder, said that it plans to sell new shares to finance expansion in China and repay part of its debt. According to Bloomberg News, STX Shipbuilding said it might raise about 158b won ($267m) from selling more than 12.25m new shares in Nov. This was based on yesterday's closing price of 12,900 won. STX Shipbuilding, which is SK's 7th-largest shipbuilder, didn't disclose the price. |
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Nostradamus
Supreme |
18-Sep-2006 21:18
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Hi awesome, As expected, it has covered the gap. From the chart, the lowest price on 26/4 was $0.845. Then it issued a profit warning. The next day, the highest price was $0.78. This created a gap between $0.78 and $0.845, which was not covered until today. |
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Nostradamus
Supreme |
18-Sep-2006 20:56
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It to a near five-month high on hopes that gains in the Baltic Dry Index this month, to highs not seen since April 2005, would boost freight margins.
Dealers said Monday's 17-month high in the Baltic Dry Index, which covers dry bulk shipping rates, will lead to higher profits for dry bulk shipping firms. |
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awesome
Member |
06-Sep-2006 15:04
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Hi Nostradamus Master, Can you explain what the term, "cover the gap" means? Thank you in advance. Jeremy Chan |
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Nostradamus
Supreme |
06-Sep-2006 11:28
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You're welcome, lowpeckkiyau. STX had a few upgrades by CSFB, so it's not such a bad stock after all. It looks likely to cover the gap at $0.845. |
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