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1081-1100 of 3100
I am still waiting for it to go down to 70c..... The fact is that there is no light for this counter.... In rigs business Cosco catches watever left behind by Keppcorp and sembmarine. Shipbuilding in china is weak as recently reported.
Another potential Chartered .... NOL also....
I wonder how those people who had bought this counter at the price range of $6 or $7 are feeling now. Must be very disappointing! I recalled having read from the paper, one investment consultant bought this counter at about $3 and dare not to reveal to her family (let alone her clients) the amount of investment losses she incurred.
Don't simply short because it's going down... will not make much ...
Wait for a good meaty "cheong", then short...
BNP Paribas cuts Cosco Corp (F83.SG) target price to S$0.21 from S$0.23 following 3Q09 results. Broker says 9M09 net profits make up only 72% of BNP's FY09 forecast, 65% of consensus on weak revenues, margins. Notes margins remain depressed, particularly in shipbuilding where broker thinks gross margins are only about 1%. Broker believes operating outlook remains tough, says further delays possible in order book execution, thinks 30% of order book still at risk of cancellation. Says lower target price reflects roll forward of valuation to 2010, still based on historically low PE ratio of 4X. Maintains Reduce rating; "we think it is still premature to turn positive." Shares down 2.7% at S$1.07; STI +0.8%. (KIG)
http://www.djnewsplus.com/ge/article/DN-CO-20091103-022294.html?mod=J1&a=T+Wire&h=MARKET+TALK%3A+BNP+Cuts+Cosco+Target+To+S%240.21%3B+Keeps+Reduce+
http://www.djnewsplus.com/ge/article/DN-CO-20091103-022294.html?mod=J1&a=T+Wire&h=MARKET+TALK%3A+BNP+Cuts+Cosco+Target+To+S%240.21%3B+Keeps+Reduce+
Shortist will like COSCO very much!
http://mystocksinvesting.blogspot.com/2009/11/cosco-chart-looks-very-bearish.html
this one is shortist target
Abandon ship??
Aiyo means bad chips. I had vested some at $1.26 on the 080909 while the consolidation breaks away on chart. Think many others did that and would have cut loss already at ard 8-10% if they are trading it. Most likely will have to keep this as a mid-long term stock liao. :(
Oophs!! sorry for late reply....
BBC = Blue Black Chip.
MFT= Market Fortune teller.
Hi, wats BBC?
Both are BBC of the year !
des_khor ( Date: 30-Oct-2009 11:00) Posted:
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NOL & COSCO both gone case at least for 1 - 2 years time...
NOL really hopeless liao as we can see a lot of empty ships are parking at Batam area ....over supply!.... as for Cosco still got hope as most of the customers request for delay only and the profit eventually will show in next 1 - 2 years FY.
Cosco Loss
China Cosco, Asia’s largest shipping line by market value, posted a 690.7 million yuan ($141 million) net loss compared with a profit of 5.56 billion yuan a year earlier, according to a statement late yesterday, citing domestic accounting standards. The Tianjin, China-based company booked 420.5 million yuan of fair value gains from forward-freight agreements and other assets.
NOL and China Cosco both said container volumes fell about 6% in the third quarter from a year earlier. China Cosco’s dry-bulk fleet, the world’s largest, had a 0.5% increase in volumes.
The shipping line fell 3.1% to HK$9.66 in Hong Kong trading yesterday. It has gained 79% this year. NOL declined 1.2% in Singapore to S$1.62. It’s risen 60% this year. Both companies announced their results after markets closed.
The slump in world trade has forced container lines including China Cosco and CMA CGM SA, the world’s third-biggest, to begin talks on delaying or cancelling ship orders. CMA CGM’s creditors are also seeking to replace the French company’s founding CEO, Jacques Saade, before they restructure its US$5.6 billion debt, three people with knowledge of the matter said yesterday.
Nippon Yusen K.K., Japan’s largest shipping line by sales, earlier this week widened its full-year loss forecast, while Mitsui O.S.K. cut its profit target by 93%. A.P. Moeller-Maersk A/S, owner of the world’s largest container line, said in August it may post its first annual loss in at least six decades this year because of the rates slump.
“There will still be a supply and demand gap next year,” said Corrine Png, a Singapore-based JPMorgan Chase & Co. analyst. “A turnaround will probably only happen in the second half.”
China Cosco, Asia’s largest shipping line by market value, posted a 690.7 million yuan ($141 million) net loss compared with a profit of 5.56 billion yuan a year earlier, according to a statement late yesterday, citing domestic accounting standards. The Tianjin, China-based company booked 420.5 million yuan of fair value gains from forward-freight agreements and other assets.
NOL and China Cosco both said container volumes fell about 6% in the third quarter from a year earlier. China Cosco’s dry-bulk fleet, the world’s largest, had a 0.5% increase in volumes.
The shipping line fell 3.1% to HK$9.66 in Hong Kong trading yesterday. It has gained 79% this year. NOL declined 1.2% in Singapore to S$1.62. It’s risen 60% this year. Both companies announced their results after markets closed.
The slump in world trade has forced container lines including China Cosco and CMA CGM SA, the world’s third-biggest, to begin talks on delaying or cancelling ship orders. CMA CGM’s creditors are also seeking to replace the French company’s founding CEO, Jacques Saade, before they restructure its US$5.6 billion debt, three people with knowledge of the matter said yesterday.
Nippon Yusen K.K., Japan’s largest shipping line by sales, earlier this week widened its full-year loss forecast, while Mitsui O.S.K. cut its profit target by 93%. A.P. Moeller-Maersk A/S, owner of the world’s largest container line, said in August it may post its first annual loss in at least six decades this year because of the rates slump.
“There will still be a supply and demand gap next year,” said Corrine Png, a Singapore-based JPMorgan Chase & Co. analyst. “A turnaround will probably only happen in the second half.”
As per prediction of its' mother company, BDI can get to more than 4000 by end of this year, I think it is worst and darkest time for Coscorp and NOLnow.it's also best time for collecting Coscorp and NOL, don't sell them. you will get good profit in 2 or 3 years. be patient to them!
aircraft ( Date: 25-Oct-2009 18:07) Posted:
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Oops sorry, the daily and weekly charts are based on RafflesEdu.
BDI closed at 3034 not helping Cosco ? At least it's down days are on low volume.
Hmm, I wonder why Daily chart and Weekly chart differs so much, they are telling opposite direction. Anyone can help to explain ? Thanks !
Daily -
14d RSI > 70%
MACD - Uptrend
Stochastic - Downtrend
Parabolic - Uptrend
Weekly Chart -
14W RSI - 30%
MACD - Downtrend
Stochastic - UptrendParabolic - Downtrend
How many deliveries have been delayed or cancelled so far?
This counter is getting less exciting these days!
Hopefully it is not going to delay or cancel shareholders' dividends!!
................south..
Cosco unit agrees to delay delivery of 5 bulk carriers contracted by European ship owner
Cosco Corporation (Singapore) says subsidiary Cosco (Dalian) Shipyard Co. has agreed to reschedule
the delivery dates of five units of 92,500 dwt bulk carriers contracted by a European ship owner.
Contracts on the five bulk carriers were announced by Cosco Corp on Oct 24, 2007.
The agreement on the rescheduling of vessel deliveries has been acceded to upon the request of and
after negotiations with the ship owner.
The delivery dates for the five vessels, which are to be built by Cosco Dalian, will now take place
between 15 and 23 months after their original delivery dates, the last of which will now take place by
December 2012 instead of September 2011.
Cosco Corporation says the reschedulings are not expected to have any material impact on the
net tangible assets (NTA) and earnings per share (EPS) of the company and the group for the year
ending Dec 31, 2009.
The Edge 21Oct'09
16 Oct'09
BALTIC DRY INDEX
BDIY:IND Open:2728 High:2728 Close:2728
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND