Singapore Shipping Corp

If I understand correctly, its a brand new ship. Ow normally use 2nd hand ships. Either the new ship deal is very good or it is customer mandate SSC to provide?

I doubt a ship charterer has bargaining power...

whats the gearing level like after all the recent acquisitions? Seems pretty highly geared and risky

you will add more value by doing your own research and make more sense than posting such naive and valueless 1 liners...

got to step up yr gears buddy

(12-10-2014, 10:38 PM)LLS Wrote: whats the gearing level like after all the recent acquisitions? Seems pretty highly geared and risky

I thought the forum would be a good way to get information, it seems that instead of answering my question, you ask me to look for it myself. Nvm its fine, thanks for your kind reply.

If I need anything I would just call up my broker and ask him to give me what I need
that's why I pay him commission I guess ^^

If this is your attitude, you won't go far...

Seriously, if you think your broker will be interested to entertain you then i think you will be badly mistaken.

Good brokers are already doing their own business than to focus on servicing demanding clients with razor thin commission.

I m telling you a fact as I help my brokers more than they help me. If you want to improve your skills, there is no better way than to keep improving and value add via sharing with the rest.

GG

(12-10-2014, 11:23 PM)LLS Wrote: I thought the forum would be a good way to get information, it seems that instead of answering my question, you ask me to look for it myself. Nvm its fine, thanks for your kind reply.

If I need anything I would just call up my broker and ask him to give me what I need
that's why I pay him commission I guess ^^

(12-10-2014, 11:23 PM)LLS Wrote: I thought the forum would be a good way to get information, it seems that instead of answering my question, you ask me to look for it myself. Nvm its fine, thanks for your kind reply.

If I need anything I would just call up my broker and ask him to give me what I need
that's why I pay him commission I guess ^^

GG has a valid point, you will get much more from DIY research, than a prefect answer

Hi GG,

I am convinced that it is with good intention, but let's tone down and avoid using abusive words e.g. naive etc.

The most unproductive thing in a forum is a meaningless flaming.

Regards
Moderator

after all the recent acquisitions, sing shipping will have a gearing of over 100%
considering that interest rates are likely to move towards 4% in 2017
the borrowing cost could be as high as 6-8%, this increase in interest cost could greatly put pressure on its earnings

as seen from previous failures of first shipping lease and rickmers, investors should be cautious investing in such heavily gear shipping companies

CHeers

(14-10-2014, 03:45 PM)LLS Wrote: after all the recent acquisitions, sing shipping will have a gearing of over 100%
considering that interest rates are likely to move towards 4% in 2017
the borrowing cost could be as high as 6-8%, this increase in interest cost could greatly put pressure on its earnings

as seen from previous failures of first shipping lease and rickmers, investors should be cautious investing in such heavily gear shipping companies

CHeers

Good. You should stay out of such investments. This is going to cause you many sleepless nights.

(14-10-2014, 03:45 PM)LLS Wrote: after all the recent acquisitions, sing shipping will have a gearing of over 100%
considering that interest rates are likely to move towards 4% in 2017
the borrowing cost could be as high as 6-8%, this increase in interest cost could greatly put pressure on its earnings

as seen from previous failures of first shipping lease and rickmers, investors should be cautious investing in such heavily gear shipping companies

CHeers

Hi LLs,

First ship and rickmers are shipping trusts, not companies. Trusts don't pay down their bullet loans, SSC loans are
Amortize with the lifespan of the charter. Fundementally, the risk involved in loans is different.

Also, the ships are already chartered, at least the first 2 are already chartered, the cash flow generated can be calculated against the finance costs, maybe u should be more concerned about oil price...

Also the PcTC market is different from bulks and containers. there is no over supply of PcTC now, although no one can foretell the future, but it is dominated by a few big players and highly unlikely they will cut each other throats unless a new big player emerged.

I am no expert in SSC, but if u spend some
Time reading through the SSC thread u would have learn a lot more from
Other forummers. Of course, u can disagree with the analysis and a different insight is actually very much appreciated.

The culture at valuebuddies is very different from other forums, I was humbled a few times before time, nonetheless the forum is a gold mine and the humbling is actually a very very small price to pay, if it is any price to pay at all.

Take a quick scan on past discussion of the thread you are interested in.

Enjoy ...

LLS, try and google Ow Chio Kiat's track record.

SSC also bought back the former cougar logistics services business (for the RORO carrier) more than 1 year ago. The company is now renamed MYP. The deal was so cheap to believe. So now SSC has the 2nd business adding in pure cash flow to fund purchase of ships.

THe investing world is full of variations and to be a good investor, need to dig deep.

Even now I consider myself a novice...