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...and up 143%? Maybe they haven't read the RNS? You have to admire the MMs!
Hellenic Carriers Limited Press Release 18 March 2016 NOTICE OF ANNUAL GENERAL MEETING PROPOSED CANCELLATION OF ADMISSION OF THE COMPANY'S SHARES TO TRADING ON AIM
Not sure HCL can ever recover - the $95m debt is a huge weight dragging it down to the bottom of the sea.
are we saying nothing
I see it's almost a year since I last commented and the SP has more than doubled! So it's a shame I sold out long ago after deciding my money would be better invested elsewhere. I'm not sure it ever was!
After a brief 6 week fall in the BDI index, rates have now started to harden again. http://www.bloomberg.com/news/2013-11-28/shipping-costs-rise-most-in-11-weeks-as-ore-freight-leads-surge.html http://www.bloomberg.com/news/2013-09-23/shippers-poised-to-return-to-profit-as-cargoes-grow-10-freight.html
...on such a tiny volume. Rest assured, it will work the other way - when HCL announces that revenues have risen 50% I expect the SP to rocket 100% in expectation of much better times to come.
Looks like our principal shareholders just topped up to the limit.
The 2012 Annual Report might have led to HCL being # 3 Top Faller first thing this morning but it recovered strongly. With $47.7m cash in the bank it's not going bust any time soon and when shipping rates double or treble so will the SP.
With only 30% of the shares in public hands this could get very interesting.
Down 36% since my last comment and things appear to be going from bad to worse. HCL's "fleet" now comprises just 3 ships which worries me. If they can survive it could be a multi-bagger but who knows where the bottom is? Hopefully not at the bottom of the sea... :(
Coverage Hellenic Carriers (HCL) shares jumped by 1.5p to 21p as the marine transportation services company announced that it has completed the sale of its Panamax dry bulk carrier, M/V Hellenic Sea, for 5.3 million dollars. Taking into account the vessel's net book value and expenses related to the sale, Hellenic will realised a net book value loss of 200,000 dollars.
SALE OF VESSEL Hellenic Carriers Limited, (“Hellenic” or the “Company”) (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, is pleased to announce that, in continuation of its fleet renewal program, its wholly owned subsidiary Patmos Shipping Co. Ltd (“Patmos”) has completed the sale of the 1991-built at Jiangnan, China 65,434 dwt Panamax dry bulk carrier, M/V Hellenic Sea. M/V Hellenic Sea was sold to nominees of Dianik Bross Shipping Corp., an unaffiliated third party, for a total cash consideration of US$5.3 million. The vessel was delivered to her new owners on 23 August 2012.
SOS are we sinking, Well it looks like the rats are leaving the ship Hmmmmmmmmmm
I have these on my Watchlist and am waiting to pounce! But after my recent experience with pouncing on AQP far too soon I'm happy to wait. But when they finally bottom I'd expect a fairly swift 100% return for the lucky punters who get their timing right.
See Rns above they sold a ship Made money on it too, they also moved the Registered office to the Channel Island's and the Baltic Dry Index is up close to 6% last week all good for HCL
The Greeks are the best in the world at shipping see post below from the FT as to why
http://www.ft.com/intl/cms/s/0/549e5cdc-5efb-11e1-a04d-00144feabdc0.html#axzz1pH6NjG80 You may need to reg with the FT to access This is a Long term hold 2-3 years before Dividends are paying out again may do a bit of B&B and average Down Yours Shane
Charles Stanley downgrades Hellenic Carriers from buy to hold, target price cut from 129p to 50p.
Hellenic Carriers profit sinks Date: Monday 12 Sep 2011 LONDON (ShareCast) - Marine transportation company Hellenic Carriers posted a sharp drop in half year net profit as it battles against continued pressure in the freight market. The group, which owns a fleet of five dry bulk vessels that transport iron ore, grain, steel products and minor bulk cargoes, said first half net profit fell to $3.1m for six months ended 30 June 2011 compared with $10m last year. Revenue fell to $20.8m during the period from $30.6m previously. Chief executive officer Fotini Karamanli commented, "Since early 2011 the dry bulk market has been subjected to considerable downward pressure resulting in poor freight rates, especially in the capesize sector. The dry bulk market is now experiencing the effects of oversupply of vessels, mainly ordered during the boom years." He added, "This development comes as no surprise since the overhang of the order book was causing concerns for a number of years. However, in this depressed environment there are positive signs which we should not fail to consider." Cash reserves fell to $49.1m from $60m at 31 December. Hellenic has not recommended an interim dividend payment.
http://www.investegate.co.uk/Article.aspx?id=201109120700190036O
The management seem to be really good, just had good annual results, and the company seems to be a good value stock, so will just have to wait a while I guess and hopefully over time the share price should surely increase. No intention to sell my shares, probably won't get more for now though.
www.iii.co.uk/investment/detail?code=cotn:HCL.L&display=news&it=le Looking good, divi of over 7%. Get yourself on the register! :)
Ahoy you scurvy landlubbers, anyone still onboard the good ship HCL? Got some stormy weather on the horizon but I for one have decided to batten down the hatches and hold course. Dispensing of the nautical chatter, we're having it a bit rough at the moment. Down around 20% in a month, for a reason check the BDI which is currently plumbing the depths of late 08' when the index fell of a cliff. Also I think we might have an II seller in Juiptar AM taking a reduced stake. Still, Im always hearing that shipping is cyclical, so as the SP retreats maybe the best thing to do is hold our nerve and look to accumulate. Afterall we were trading well below NAV at 80p, and much of the poor outlook for 2011 should be factored in. Im a weak buyer at these prices on HCL and GPRT. Weak, literally as Iv got next to no cash left anyway. GL and hopefully we'll come out at the other side smiling :) :)