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http://info.sgx.com/webcorannc.nsf/0357d11048060bb84825735f0028e25b/4993fd54769775bc482573f50009ab62?OpenDocument
Increase in deemed interest from FMR on behalf of managed accounts
Just announce a stellar results of net proit of US$20.6 milfor the FY2007 up 133% from forecast of US$8.83. Current yield of 10% and above will provide a good support for the share price, downside should be limited. With more delivery of ship from this year til 2010. this is certainly a good long term investment with steady income.
Vested for yield...around 8% at current px.
Dropping below ipo price maybe a good bargain. Any expert in this?
Yup. This is a good investment for long holding.. Do u able to see big player selling down? I holding tis counter for sometimes but didnt see much performance.
If you look at UIS investment portfolio, Rickers Marine is one of them. This shows that this is a good investment over a long term. Dividend yield is equally attractive.
Any advise on this counter?.. seems to be not doing well~
I see... that why not much performance...
This is not exactly marine industry althought it uses vessels
Most of the marine moved.. Yet tis marine still stationary... Still at its ipo price.. Where will it start to sail~~
Rickmers Trust Management has entered a Memorandum Of Understanding to buy five container vessels from Polaris Shipmanagement worth US$72 mln each.
The vessels are scheduled to be delivered between June 2008 and February 2009 from Dalian Shipbuilding Industry, China.
Each vessel will start operating immediately after delivery and have a ten-year, fixed-rate time charters to charterer, MOL Tokyo.
According to the report, the hire rates have not been revealed due to competitive reasons.
Chief Financial Officer of RTM, Quah Ban Huat says the five new vessels generate about US$49 mln per year of charter hire revenue.
~ To get the consensus analysts' view on this company and our insights on this announcement, please subscribe to Investor Central. ~
A potential shipping coy yet to be discovered. A hidden gem. Hopefully one day will soar high..
DBS Vickers report
Shipping Trusts : Offering yield plus growth
Story: We attended Marine Money session on Shipping Trusts
yesterday that was held at the Grand Hyatt Hotel. Sitting on the
panel were management from the three SGX-listed shipping trusts
Rickmers Maritime, Pacific Shipping Trust and First Ship Lease.
Point: Management reiterated that the structure of a shipping trust
is to deliver yield and growth, and that its performance and
cashflows is not tied to the shipping cycle. In addition, shipping
trusts need to deliver growth that was promised at IPO. In some cases
to take advantage of opportunistic acquisitions, a strong Sponsor is
clearly advantageous.
Relevance: We hold the view that shipping trusts offer attractive
yields, averaging 9.4% for FY08 and are lagging US peers which are
trading at an average yield of 6.7%. Maintain Buy for Rickmers
Maritime (Buy, TP S$1.80) and Pacific Shipping Trust (Buy, TP
S$0.52). We have no rating for First Ship Lease.
Rickmers Trust Management has entered a Memorandum of Understanding to buy four container vessels at US$69 mln each from Polaris Shipmanagement.
It has been granted the right of first offer for the vessels which are expected to be delivered by FY 2009 from Yangzijiang Shipbuilding.
According to Mr. Quah Ban Huat, Chief Financial Officer of RTM, 'Each of the new Vessels is expected to contribute approximately US$9 mln in revenue.'
Each vessel will be under a seven-year, fixed rate charters to Hanjin Shipping, Seoul at US$25,950 per day.
After that period, the Charterer has the option to extend the charter period for an additional three years at US$27, 950 per day.
~ To get the consensus analysts' view on this company and our insights on this announcement, please subscribe to Investor Central. ~
But when u compare Rickmer price wih First ship trust .. Is it FST cheaper now below IPO ? FST current price make it above 9% yield ..
Ok I'm not familiar with Trust and Reits counter . any comment ??
DBS Vickers rated "Buy", target price 1.8sgd....
Stock up people!!
I was really hoping for this one to drop but it doesn't... just look at the price for the past 2 weeks.. it holds very well with most counters already plunged 20-30%... it still trades btw 1.62 to 1.67 (emphasizing past 2 weeks).
Got the following info from the News section of SJ...
Rickmers Maritime has entered a memorandum of understanding (MOU) to buy four 13,100 TEU container vessels from Polaris Shipmanagement Company. Each of these vessels will start its services once it has been delivered by Hyundai Heavy Industries in South Korea, between August and November 2010, with a 10-yr fixed-rate time charter to AP Moller ? Maersk. Once operations are up, it expects its revenue increase to US$1.4 bln.
It is worthwhile if you think of the 8% Distribution Yield. This is a safe bet in this sense. Of course, you have better bet else where you can garner even better returns than 8%.. than not.
Hi duststorm, yes it's worthwhile if you are a patient and long term investor. :)