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"Golden eggs laid by these golden hen"
Remember these trust were meant for greater purpose and has a potential of 1.5 billion industry and base on IPO price. $1.5 the 8 percentage dividends were considered good becos of higher dividends promised. Now it is trading only at 50 cents so yield given for $1.5.
To boost your confidence , go check their directors backgrounds. They are all the professional banks and shipping head from reputable shipping industry. They had very good educational background also and these made me feel safe when they are working there.
I will keep these stocks and will just keeping taking their dividends years by years... until terminator comes 2018 ... haha lames.
Remember dont kill these golden hens cos they are giving golden eggs sooooon !!!
Tmr TP : $0.65
Good dividend yield compare to REIT. Up up up!
Glad that you earn from this.. intro is one thing, u also must dare to buy. so you make a right choice..
fruitty ( Date: 28-May-2009 18:22) Posted:
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Rickmers over 50c! Thanks all for introducing this stock :)
this is going strong.. just like other shipping counters.. still lagging.. will up more
this one also up.. good!
Rickmers sees higher Q2 income
* Expects higher distributable income in Q2 on new vessels
* 3 more ships due '09, funding not secured for next yr ships
* Sees gradual recovery of container freight rates by Q3
SINGAPORE - Singapore-listed Rickmers Maritime expects increased distributable income in its second quarter on the back of new vessels, with another three due later this year when it sees a gradual recovery in freight rates.
Charter rates have likely bottomed, and there might be a gradual upwards correction in container freight rates by the third quarter, a traditional peak season for container shipping, the CEO of the shipping trust told Reuters on Monday.
'We took delivery of a few ships in the early part of Q2, which we didn't have in Q1, so that should affect the numbers accordingly,' Thomas Preben Hansen, CEO of Rickmers Trust Management, said in an interview. 'As we add ships to our portfolio, our revenue increases and our distributable cash flow should increase accordingly,' he added.
A triple whammy of weak consumer demand, ship oversupply and the re-stocking of iron ore inventories at Chinese ports in the past 3-4 weeks have kept shipping rates under pressure.
Rickmers expects full contribution in the second quarter from two new ships delivered earlier this year, one leased to Korea's Hanjin Shipping and the other to Japan's Mitsui OSK Lines.
It has seven outstanding committed vessel buys, three vessels leased to Hanjin due later this year, and four vessels leased to AP Moller-Maersk due next year, but the funding for the latter has not been secured.
'We've gone from an environment where there was an abundant amount of bank financing for shipping, to currently going through a period where the appetite for shipping financing has been reduced. But ship financing will return to the market,' he said.
Rickmers and the other two Singapore-listed shipping trusts, Pacific Shipping Trust and First Ship Lease Trust, generally offer higher yields than Singapore-listed real estate investment trusts, because ships typically have a lifespan of 25-30 years.
Rickmers reported a 60 per cent increase in first quarter distributable income to US$19.6 million, on revenue of US$32.5 million. Its shares have risen 14 per cent so far this year, versus a 29 per cent gain in the broader Singapore index. -- REUTERS
Hmm... Think some buying interest coming. Good one.
Yup :) I must thank the person who started this thread , because of this thread , i began to AWARE of this great opportunity . AWARE sounds like a dirty word now.. haha.. But thanks to the person !
freeme ( Date: 11-May-2009 21:14) Posted:
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ya.. this one worth keeping.. same as FSL too. if tml open below 0.41 also can buy n keep.
matthewsoh ( Date: 11-May-2009 20:55) Posted:
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if you keep this stocks fro three years , you will get these stock free when you receive the dividends( 30%) if you bot them at 40 cents. yup :) These stocks if kept can be treated as golden hen that lays golden egg so remember dont kill these golden hens ya
I bot 40 lots and targeting to keep to 100 lots
Bought today at 0.435.
It's shipping trust peer, FSL dropped 4c last min?
hi maxtwl,
thanks for info too :) likely i'll buy some to keep too
Well Fruitty,
In whatever case, if in doubts, just buy a few lots to keep, dont commit all your dollars.
Based on 1st qtr results, balance sheet for group looks healthy, total current assets $146m with total current liabilities $14m.
As of 1st qtr, RMT enjoys 99.8% fleet utilisation to very large well known shipping customers.
I just bought 4 lots only to keep.
fruitty ( Date: 09-May-2009 15:21) Posted:
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Hi freeme,
thanks for the response :)
just compare the price chart of rickmers and sti as a reference here and we shall see how it look like when singapore economy recover. see how beaten was rickmers stock versus index.
bro next yr rickmers price will not be at 40cents + liao. by then it might hit maybe 60 cents? and you know what, even at 0.60, based on DPU of 0.215USD, this counter still yield 20% p.a dividend. It will still attract alot of investors.
By next year if they are not able to refinance, then u throw lo. But im confident that they are able to solve their financing of new vessel la..
fruitty ( Date: 09-May-2009 15:21) Posted:
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Am interested to buy but any concern on the OCBC analyst report on this?
"RMT is committed to buy three Hanjin vessels for US$207m over the next nine months. It may not be able to fully draw down the committed loan facilities due to falling market values. Additionally, we estimate that RMT needs to repay up to US$154m in loans next year. RMT is also contracted to buy four Maersk vessels, due 2010, at US$711.6m. No financing has been arranged so far."
Sounds like Rickmers have to pay alot by next year for the 4 vessels and if they can get a loan, interest would be high too. Shipping companies are not doing well too with many of them reporting losses. Would they be able to pay Rickmers high fees for their services still?
yes.. even after cheong abit now still give a cool 30% p.a dividend. After crisis over, hard to find such deal liao. Even at 20% its also easily beat all property REITS..
Another counter worth looking is FSL
maxtwl ( Date: 08-May-2009 17:42) Posted:
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Yup Yup. IPO price was about 1.6, NAV about USD 0.84. Price now 0.415. This one still haven't moved much compared to the rest that have surged 30/40% or even doubled. Buy and keep for value!
cheongwee ( Date: 08-May-2009 16:05) Posted:
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