They are going the whole minus juice thing again. Last time they did this (the only time they've done this) the bigger juice hit. So I am leaning to the Up play, but damn it I dunno
To remove first post, remove entire topic.
Up -150
Down -110
They are going the whole minus juice thing again. Last time they did this (the only time they've done this) the bigger juice hit. So I am leaning to the Up play, but damn it I dunno
you ever hear of OceanFreight, Inc OCNF they're a seaborne transportation services provider with about 13 ships. their dividend is 44%. stock is @ 7.25 (8.54 after hours) they announced they were keeping thier .77 dividend for the 3rd qtr. wondered if you ever looked into them or know anything about them.
Walls
you ever hear of OceanFreight, Inc OCNF they're a seaborne transportation services provider with about 13 ships. their dividend is 44%. stock is @ 7.25 (8.54 after hours) they announced they were keeping thier .77 dividend for the 3rd qtr. wondered if you ever looked into them or know anything about them.
They arent interested in being consoled, just let them yell and scream and be pissed for the night.
WLD, Ocean Freight isnt a stock I would own..they are going to keep the dividend and that isnt a shock..the 3rd Q had monster BDI rates, this Q is the issue.
I know the stock very well and it isnt one I would own because I personally dont own a stock for divi payouts, at this stage in life I am looking for appreciation and growth and when I look at the INTERNALS of Ocean Freight I dont see things I like. Internals meaning the charters, margins that sort of stuff.
If you want to buy it, let the stock come in and just make sure you are in before the ex-date.
Hat,
They arent interested in being consoled, just let them yell and scream and be pissed for the night.
WLD, Ocean Freight isnt a stock I would own..they are going to keep the dividend and that isnt a shock..the 3rd Q had monster BDI rates, this Q is the issue.
I know the stock very well and it isnt one I would own because I personally dont own a stock for divi payouts, at this stage in life I am looking for appreciation and growth and when I look at the INTERNALS of Ocean Freight I dont see things I like. Internals meaning the charters, margins that sort of stuff.
If you want to buy it, let the stock come in and just make sure you are in before the ex-date.
Ocean Freight is also new to the market which means it isnt very liquid, it will probably have bigger spreads and a large position might not be easy to navigate in and out of. Not sure you are going large or not but at this price there isnt a TON of risk in owning it.
Check out the age of their fleet, they will have more maintenance than younger ships and in a bad rate environment, older vessels will make less or not even be chartered at all.
The newest vessel is from 2000..everything else is very old. That means the underlying asset values are very bad..if the value of NEW vessels are dropping, those of Ocean Freight have to be cratering.
The stock is only as good as the dividend..at 120M or whatever market cap, the asset value is much less than the market cap, they have 3 times debt to market cap and 10 times debt to cash.
If the banks force Ocean Freight to bring in cash to bring equity levels up, I dont know where they get it...meaning at 300M, given the extreme AGE of their fleet, I dont know how much equity they have in the fleet since most are 10-15 yrs old.
You could make out on the divi but look at their charters, there is no earnings growth there, no room for expansion with ZERO cash and tight credit markets.
I wouldnt be shocked if Ocean Freight could be a casualty if the BDI doesnt pick up and banks force smaller bulkers to revalue their fleet.
WLD,
Ocean Freight is also new to the market which means it isnt very liquid, it will probably have bigger spreads and a large position might not be easy to navigate in and out of. Not sure you are going large or not but at this price there isnt a TON of risk in owning it.
Check out the age of their fleet, they will have more maintenance than younger ships and in a bad rate environment, older vessels will make less or not even be chartered at all.
The newest vessel is from 2000..everything else is very old. That means the underlying asset values are very bad..if the value of NEW vessels are dropping, those of Ocean Freight have to be cratering.
The stock is only as good as the dividend..at 120M or whatever market cap, the asset value is much less than the market cap, they have 3 times debt to market cap and 10 times debt to cash.
If the banks force Ocean Freight to bring in cash to bring equity levels up, I dont know where they get it...meaning at 300M, given the extreme AGE of their fleet, I dont know how much equity they have in the fleet since most are 10-15 yrs old.
You could make out on the divi but look at their charters, there is no earnings growth there, no room for expansion with ZERO cash and tight credit markets.
I wouldnt be shocked if Ocean Freight could be a casualty if the BDI doesnt pick up and banks force smaller bulkers to revalue their fleet.
This is a shot in the dark tomorrow 
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