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Ppl still not convinced.... More to come
COSCO cancels five handymax orders
Written by Perter Clarkson Monday, 11 May 2009 00:52
China's COSCO Shipyard Group has had orders for at least five 57,000-dwt Handymax bulker newbuildings cancelled by group operator COSCO , according to a foreign newspaper report.
The ships were due for delivery in 2010-2011. Ship prices and cancellation fees were not known immediately.
The report said that COSCO annulled the orders during 2008. The operator had reportedly been in talks on possible cancellation or delayed delivery of some of the 58 newbuildings on order with COSCO Shipyard.
It had not made public the models and types of those vessels. But COSCO was known to have ordered nine large-sized ore carriers, 10 Capesize bulkers, 16 Panamax bulkers and 23 Handymax bulkers from COSCO Shipyard.
This is the third time that order cancellations involving COSCO Shipyard Group have surfaced. The group's Zhoushan yard and Dalian yard each had orders for two 57-type bulkers cancelled. Besides, the Zhoushan yard has put off the delivery dates for 14 57-type bulkers.
The group's Guangzhou and Dalian yards have together put off the delivery dates for seven 57/80-type bulkers.
The market going up...so...bear in ICU......
When Bull in ICU...why didnt i do this...why didnt i do that......if i know earlier.
Win some...spend and splurge. When lose...lend here...owe there.
Glad to see people earn money...it is always a joyous occasion. Cheers.
ok..thanks..
wanted to go in since the price at $1..waited n waited..haha...
u buying alot at price @ $1.33?
freeme ( Date: 09-May-2009 22:48) Posted:
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maxcty ( Date: 09-May-2009 22:46) Posted:
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freeme ( Date: 09-May-2009 20:33) Posted:
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I tink now is their turn to cheong liao... taking a look at the chart, comparing to other ship counter, once clear 200MA, they cheong further up. Cosco is in fact lagging. They just cross 200MA last friday and i am going to bet on it going up further even alot of analysis report call for selling.
I think, trust the chart is better than those report. If they can open at 1.33 on monday, i will say long it..
I've given up hope in this counter. My advice is that perhaps channel your resourses to other better counters, then come into this later on. Not too late.
Its order is still not fantastic yet. It depends on chartered rate and normally will be good at 2nd phase of boom. Now is only the 1st phase in which banks, some property, SGX moves... Must do it rotational to max gains. Remember our bullets are limited.
with so much volume, and this is quite cheap blue chip available
and once their orders are getting back their price will touch the sky
Well .. take their reports with a big pinch of salt :) .. These report s are meant for laughter and entertainment. Remember reports researched on Kep Corp TP : $4.56 and now what happen to this counter if you sell that time? This spurred me to read most of past reports and verified ag them against time ( cos old news already), realised none of them are CHIO. Damm Lousy..hahaha.. I am investment novice and dont know anything about business but i know something call "logic". Maybe these people just write from 9-5pm , weekdays and sometime we called that" their jobs."right or wrong , got disclaimer mah.. right aslo no offering from us , wrong also wont gena F.
But Remember your investment is your money.
Orders for COSCO will come soon?
hotstock ( Date: 08-May-2009 08:56) Posted:
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There is no reason to stay with this stock until order visibility is clear. There should be big gap down in financial performance as orders have been cancelled, postponed. More of such to come still.
The reason why it ran up the sky 1-2 years back was it was about to show off his order pipeline. Now this is no longer present and with dire economic condition, the price must come down sharply too. The problem is this stock defies the market efficiency hypothesis theory for the time being.
I will only look again why visibility improves and hence there is no rush for this stock still
SINGAPORE - Singapore-listed shipbuilder COSCO Corporation said on Thursday a European customer had cancelled the order of one out of four vessels.
The delivery dates for two other 57,000 tonne bulk carrier vessels will be delayed to June and September 2010, instead of March and May 2010, respectively. The contract on the remaining vessel remains unchanged.
It said earlier on Thursday that first quarter net profit slid 60.5 per cent. -- REUTERS
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_9D1B20C1A45481C8482575AF0020714C/$file/COSCO_Q12009.pdf?openelement
The results is not that bad ..mkt already anticipate it..tomorrow sell on news likley dip..so I sold all my Cosco today at $1.22 and maybe buy back again.CIMB nad Kim Eng( Biz Times today dated 6 May 2009) and have switched to Straits Asia Resources ..manage to buy at 50lots from $1.25 to $1.30.
Richard Ong Stands Down from SRL Board
ANNOUNCEMENT BY STRAITS RESOURCES LIMITED ON
THE AUSTRALIAN STOCK EXCHANGE
The attached announcement was released to the Australian Stock Exchange by Straits
Resources Limited (ASX: SRL). SRL held an interest in 47.1% of the shares of Straits
Asia Resources Limited (Straits Asia) through a subsidiary but sold control of the
subsidiary on 28 April 2009.
The announcement, inter alia, explains that Mr Richard Ong Chui Chat,
That means left 100%-47.1%=52.9% of issued capital 1,092.837mil ie =578mil and if U exclude shares held by institutions free float very little only...pushing to $2-$3 shouldn't be problem..I recall in 2006-2007 when it was trading at ab $1.20 I bought too and witih less than a year it shot up to $4.This stock definitely has potential..good to accumulate when it goes ex dividend on 7May ...buy around $1.20 should be safe
SnakeGreen888 ( Date: 06-May-2009 16:02) Posted:
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William%R -8.35
RSI +70.27