FSL Trust
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FSL Trust - starting to see value in it
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THE STOCK PRICE HAS COLLAPSE ..................soloman ( Date: 09-Jun-2010 22:11) Posted:
IS THIS SHARE IN SING DOLLAR OR US$ ? |
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IS THIS SHARE IN SING DOLLAR OR US$ ?
Such risks are inherently present when one do "bareboat" charter. The risk attenuates if it is chartered out to a weak counterparty who likely almost always run into financial trouble in a crisis. FSL is a case in point. That's why i never like FSL even though many stock analysts give buy calls.
lawcheemeng ( Date: 09-Jun-2010 13:05) Posted:
| To be fair to FSL....the bunker charges are owe by the lessee of the ship n not by FSL.......the lessee have also not paid FSL their dues since may this year....so FSL may have to pay all the due charges for the releash of their ships n also end up with redundant ships in hand.....both way also lose lor.......hainz.........not vested
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its good for the drop.. then we will have more choices when it comes to pick the durian. anything near 34 cts i am willing to load up..
the way i see it......lo$t either way.....good candidate for $HORT$ !! :P
lawcheemeng ( Date: 09-Jun-2010 13:05) Posted:
| To be fair to FSL....the bunker charges are owe by the lessee of the ship n not by FSL.......the lessee have also not paid FSL their dues since may this year....so FSL may have to pay all the due charges for the releash of their ships n also end up with redundant ships in hand.....both way also lose lor.......hainz.........not vested
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To be fair to FSL....the bunker charges are owe by the lessee of the ship n not by FSL.......the lessee have also not paid FSL their dues since may this year....so FSL may have to pay all the due charges for the releash of their ships n also end up with redundant ships in hand.....both way also lose lor.......hainz.........not vested
Acutally, who owe the money? FSL or the company that lease ship from them? I believe is the latter right?
FSL = Fast Sinking Lease ? ? ? ?
hehe outdated or not i dunno la.. but its the latest quarterly report..
nickyng ( Date: 09-Jun-2010 12:50) Posted:
report outdated or not?? :P
holywolf50 ( Date: 09-Jun-2010 12:47) Posted:
| from the report it show that they have 56million cash/short term deposits. and the interest rate is 5-7%
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report outdated or not?? :P
holywolf50 ( Date: 09-Jun-2010 12:47) Posted:
from the report it show that they have 56million cash/short term deposits. and the interest rate is 5-7%
Jackpot2010 ( Date: 09-Jun-2010 12:28) Posted:
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O$P$ Today mkt down marginally but this 1 down >11% to 39c (last done) bcos of this. Avoid shipping trust that r heavily indebted. They paid interest >10% on borrowings - how to survive?. Richmers Maritime is another 1 that is sinking. Not vested. |
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from the report it show that they have 56million cash/short term deposits. and the interest rate is 5-7%
Jackpot2010 ( Date: 09-Jun-2010 12:28) Posted:
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O$P$ Today mkt down marginally but this 1 down >11% to 39c (last done) bcos of this. Avoid shipping trust that r heavily indebted. They paid interest >10% on borrowings - how to survive?. Richmers Maritime is another 1 that is sinking. Not vested.
commando ( Date: 09-Jun-2010 12:12) Posted:
| FSL own $? I told they have cash $28 million ? i vested alot leh. vun scare me. |
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hmm i dont think they will have any problem. they got the 6 mil deposits for the 2 ship.
O$P$ Today mkt down marginally but this 1 down >11% to 39c (last done) bcos of this. Avoid shipping trust that r heavily indebted. They paid interest >10% on borrowings - how to survive?. Richmers Maritime is another 1 that is sinking. Not vested.
commando ( Date: 09-Jun-2010 12:12) Posted:
| FSL own $? I told they have cash $28 million ? i vested alot leh. vun scare me. |
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hee....jump?!?! nah...SHORT !! yes !! :P
Jackpot2010 ( Date: 09-Jun-2010 12:01) Posted:
| O$P$. So far 2, one vessel after another, seized by creditors. Sinking fast....jump! |
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FSL own $? I told they have cash $28 million ? i vested alot leh. vun scare me.
O$P$. So far 2, one vessel after another, seized by creditors. Sinking fast....jump!
The report mentioned vessel acquisitions...wonder how long more haha !!!
pharoah88 ( Date: 21-May-2010 15:18) Posted:
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)
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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)
I am waiting for the revised DPU first before entering again haha. Buy slowly...shipping recovery still in the embryonic stage. Though, announcements of vessel acquisition may boost the unit price slightly.
Want to buy in some more to average out, but dont think it hits the bottom yet
