Pacific Basin 2343

Re: Pacific Basin 2343

Postby eauyong » Wed May 27, 2009 4:23 pm

Pacific Basin (2343) sets off, sit tight!
14:54

BDI has been rising for a period but Pacific Basin (2343) is rather a laggard. It finally advances today, perhaps it's a beginning. It is now trading at $4.78, up 11%, with turnover of $240M.
User avatar
eauyong
Foreman
 
Posts: 353
Joined: Sat May 10, 2008 11:01 am

Re: Pacific Basin 2343

Postby winston » Wed May 27, 2009 4:51 pm

Good Managemet but I'm not sure about the industry ..
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby winston » Mon Jun 15, 2009 7:13 am

Not vested. From Dr. Check, The Standard HK:-

So let's not waste time - focus on laggards such as Pacific Basin Shipping (2343). The company operates one of the biggest networks of dry bulk shipping vessels.

During the first half of 2008, the Baltic Dry Index soared to all-time highs. But in December it dived by 94 percent to 663 points, its lowest level in more than 22 years. At present it stands at around 3,700 points.

The stock has dropped from a peak around HK$17 to HK$5.39 on Friday. The mainland property market's recent strength will spur a recovery of the construction sector. And somebody has to ship the ore from abroad to make steel.

If Pacific Basin's earnings in 2009 can stay at US$100 million (HK$780 million) level, its expected price- earnings ratio will be about 11 times.

A further rebound of the stock may be written in the stars.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby winston » Fri Jul 03, 2009 4:16 pm

Dont understand the Shipping industry. Supposedly, they are the one of the best around ...

======================================================

DJ MARKET TALK: BOCI Ups Pacific Basin Target To HK$4 Vs HK$2.50

1552 [Dow Jones] STOCK CALL: BOCI raises Pacific Basin (2343.HK) target price to HK$4.00 from HK$2.50 after raising 2009-10 earnings forecasts by 5.8%, 74.2% to US$110.5 million, US$38.4 million, respectively, on higher time-charter-equivalent rate assumptions.

But keeps at Sell. "Although spot dry bulk shipping rates rebounded significantly in 2Q09, we believe Pacific Basin Shipping has not benefited much due to its relative high coverage ratio at end-1Q09. The huge upcoming supply of newbuildings will weigh on the market." Shares +0.4% at HK$4.91
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby winston » Tue Aug 11, 2009 8:54 pm

Pacific Basin Profit Falls 78% on Plunging Bulk Rates (Update2)
By Wendy Leung

Aug. 11 (Bloomberg) -- Pacific Basin Shipping Ltd., Hong Kong’s largest operator of commodity vessels, reported a 78 percent drop in first-half profit as rising overcapacity in the global fleet hammered rates.

Net income fell to $74.8 million from $337.6 million a year earlier, the company said in a Hong Kong stock exchange statement today. Sales tumbled 53 percent to $425.9 million.

Pacific Basin has avoided the worst of a collapse in dry- bulk shipping rates by signing long-term contracts.

http://www.bloomberg.com/apps/news?pid= ... e5ZQKG9ttY
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby winston » Thu Oct 15, 2009 7:41 am

Not vested. From Dr. Check, The Standard HK:-

Catch the tide on the dry bulk benchmark

Crude oil prices and the Baltic Dry Index normally move in tandem as shipowners adjust freight rates according to the cost of fuel.

The BDI peaked in June at about 4,200 and fell to 2,400 in September.

During this period, however, oil prices did not soar, hovering instead around US$70 (HK$546) per barrel. So is oil too costly or the BDI too low?

You may focus on shipping stocks such as Pacific Basin (2343) if you think the BDI is indeed low.

The dry bulk shipper's first-half net profit fell 78 percent year on year as shipping rates dived amid a global slump in raw materials demand.

Pacific Basin is the world's largest operator of handysize vessels that can navigate both oceans and rivers. It has US$3.14 million cash on hand.

Pacific Basin's profit for this year is seen at about US$118 million.

The stock closed yesterday at HK$5.60, or 10 times its expected price-earnings ratio. It may be a good catch near HK$5.20. I would advise setting a target price of HK$6.50.

http://www.thestandard.com.hk/news_deta ... 91015&fc=7
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby winston » Fri Oct 30, 2009 12:25 pm

Not vested.

DJ MARKET TALK:Pacific Basin Likely To Stay Profitable Next Yr-MS


1151 [Dow Jones] STOCK CALL: Pacific Basin (2343.HK) likely to stay profitable next year despite volatile global shipping rates, indicated by higher coverage of revenue days in October, at rates higher than spot, says Morgan Stanley.

Notes covered revenue days for Handysize vessels (company's main fleet) in October rose to 97% vs 89% in August; October daily rate down slightly at US$14,210 from August's US$14,280, but still 14% higher than spot rate.

Keeps Overweight, target at HK$6.50; stock +5.9% at HK$5.92 vs HSI +3.1%.

Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby winston » Fri Oct 30, 2009 2:21 pm

Not vested.

DJ MARKET TALK: BofA-ML Raises Pacific Basin Target 7% To HK$4.30

1208 [Dow Jones] STOCK CALL: Bank of America-Merrill Lynch raises Pacific Basin (2343.HK) target 7% to HK$4.30, after company posts higher vessel coverage days, rates in October. But maintains Underperform, tips global shipping rates to slump next year due to overcapacity.

Tips rates to be "highly volatile" over next 6 months, as Chinese steel mills, global iron ore producers to negotiate contract pricing, making sector "increasingly tricky for investors."

Notes, company locked in over 90% of vessel days for 4Q09, 57% for 2010, at rates 10%-20% above spot.

Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby stilicon » Fri Dec 04, 2009 6:54 pm

CIMB issued a report yesterday on bulk shippers. They were surprisingly extremely bullish.
They put a TP on Pacific Basin at HK$8,15 (they were at HK$3,65 in june 2009; apparently things changed a lot according to the CIMB analysts).
I did not touch shippers for at least 9 months, because I felt the recovery was restocking-linked or artificially stimulus-linked.
If cancellations of the orders of 2006/2007 are definitive, if Asia continue to develop (as I expect), then maybe a good company such as Pacific Basin could be worth a small line.
However, for the moment, above HK$6,- I would not take the risk, and wait for an hypothetical dip.

I wonder what Winston, who used to follow a bit those companies, thinks about this topic ...
stilicon
Coolie
 
Posts: 201
Joined: Fri Sep 12, 2008 5:21 pm

Re: Pacific Basin 2343

Postby winston » Fri Dec 04, 2009 9:00 pm

Hi stillcon,

Not vested.

I don't know enough about the industry to be able to make money on it.

However, I understand that Pacific Basin is one of the better run company in the industry. So if the industry is turning around, this co may be one of the first one out the gates.

Take care,
Winston
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

PreviousNext

Return to L to R

Who is online

Users browsing this forum: No registered users and 5 guests