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Huh what do you mean ? If RMT can escape from the LTV issues, its future will be a lot brighter...though technically this would apply to the other shipping trust in the world as well haha !
mayying ( Date: 31-May-2010 14:59) Posted:
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Er, saya tak tahu?
mayying ( Date: 31-May-2010 14:46) Posted:
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Please explain... 
hmm.. potential ..
Interesting, but why?
mayying ( Date: 31-May-2010 14:46) Posted:
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buy rickmers by JUL :)
Shipping trusts: Not out of the woods yet
Summary: Pacific Shipping Trust (PST), FSL Trust (FSLT) and Rickmers Maritime [RMT, NOT RATED] all reported YoY declines in 1Q10 DPU primarily due to lower distribution payout levels. RMT has reached an agreement with its lenders, but it is fairly restrictive – in our view – as RMT cannot exert much control over its cash flows. RMT could just bide its time under these agreements or possibly raise fresh equity (with a much recovered unit price) and get out of these restrictive agreements. In sharp counterpoint to the RMT developments, FSLT announced earlier this month that a charterer has re-delivered two of its product tankers. The sector, in our view, remains highly vulnerable due to counterparty risks – and this incident highlights that the broader shipping industry is not out of the woods yet. We expect both PST and FSLT to acquire new vessels this year but the key challenge will be to secure high quality counterparties and still make an accretive deal. Maintain NEUTRALview. PST is our preferred pick because of its balance sheet strength. (Meenal Kumar)
Summary: Pacific Shipping Trust (PST), FSL Trust (FSLT) and Rickmers Maritime [RMT, NOT RATED] all reported YoY declines in 1Q10 DPU primarily due to lower distribution payout levels. RMT has reached an agreement with its lenders, but it is fairly restrictive – in our view – as RMT cannot exert much control over its cash flows. RMT could just bide its time under these agreements or possibly raise fresh equity (with a much recovered unit price) and get out of these restrictive agreements. In sharp counterpoint to the RMT developments, FSLT announced earlier this month that a charterer has re-delivered two of its product tankers. The sector, in our view, remains highly vulnerable due to counterparty risks – and this incident highlights that the broader shipping industry is not out of the woods yet. We expect both PST and FSLT to acquire new vessels this year but the key challenge will be to secure high quality counterparties and still make an accretive deal. Maintain NEUTRALview. PST is our preferred pick because of its balance sheet strength. (Meenal Kumar)
I joined Rickmers family today with 10 lots !!!
Time to load...
Wow, really cheong today. how come no one pick this up in the forum since last Fri?
Hi guys, any expert on Rickmers can comment wat's the outlook with the new disclosures n px hike on Fri?
I don't think Mother got US$1 billion spare change. All depends on whether the lending banks want to help.
God_of_War ( Date: 05-Apr-2010 13:44) Posted:
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Monday: 5th APRIL 2010
nO Up tOday ? ? ? ?
Last week up looks more like technical rebound. Too much uncertainty in this one.
Mother buy back ship, Rickmers divi to investor might also goes down.
Too uncertain...
Shorties dun dare to short and Longist dun dare to long this stock...
Flat...
Hi Morning Guys,
What's your take for Rickers today? Price will be Up Up or Down Down?
NOL should create their own shipping trust haha
pharoah88 ( Date: 03-Apr-2010 15:36) Posted:
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can nOl take Over RMT nOw ????
pharoah88 ( Date: 03-Apr-2010 15:36) Posted:
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nOw cOmes the MilliOn dOllar QuestiOn ?
whO kept buying and buying nOl at HiGHER and HiGHER PRiCES ??
can the SAME grOup cOme tO buy RMT nOw ???
Why will RMG lease the ship back to RMT ?
The 7 vessels are chartered out to harbin and maersk. Since it owns the ships, it will receive the entire charter income alone. RMT won't smell a dime.
kenkenken ( Date: 02-Apr-2010 12:02) Posted:
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RMT will definitely get a refinancing - the
question is at what cost to unit-holders. Until this situation is clear,
I wouldn't buy nor sell.
Currently, I feel they are the potential outcomes -
1) Hyundai agrees to delay delivery for another year to allow RMT to find financing. I think this is unlikely since Maersk will consider this as a contractual breach and will demand a lower charter rate when the vessels are delivered.
2) RMG agrees to purchase the vessels and they will charter it out to Harbon and Maersk. They alone will receive the full charter income.
3) RMG and RMT agrees to split ownership of the vessels by forming a JV company to own it. The charter income will be split according to the proportion of equity held. Unit-holders will have to fund this.
4) RMT manages to find financing for the vessels based on fair value prices. Unit-holders top up the rest.
5) RMT raises unsecured Notes offering to shareholders to raise funds.
6) RMT is abandoned by RMG and declared bankrupt.
Currently, I feel they are the potential outcomes -
1) Hyundai agrees to delay delivery for another year to allow RMT to find financing. I think this is unlikely since Maersk will consider this as a contractual breach and will demand a lower charter rate when the vessels are delivered.
2) RMG agrees to purchase the vessels and they will charter it out to Harbon and Maersk. They alone will receive the full charter income.
3) RMG and RMT agrees to split ownership of the vessels by forming a JV company to own it. The charter income will be split according to the proportion of equity held. Unit-holders will have to fund this.
4) RMT manages to find financing for the vessels based on fair value prices. Unit-holders top up the rest.
5) RMT raises unsecured Notes offering to shareholders to raise funds.
6) RMT is abandoned by RMG and declared bankrupt.