I can't help but think the lack of volume and float allows the price to be pushed around easily. Look at the performance of GLNG today and compare it to GLOG trading. Given the Q3 results, earnings going forward and new fleet as well as additions GLOG should be moving better than this; or is it as simple as this story is not publicized.
Gas Log has 65 Million shares outstanding. With a Q3 profit of $21m that figures out to be about .32 cents per share. Good results.
Did the release state how much had been expended to reduce the debt of the new builds?
New Fleets Coming
I think I saw that in the next four years there will be over 80 new LNG vessels built in the Orient. Some of those will belong to different companies in new countries entering the LNG transport field,
Including China and Japan
Am I wrong? First, U.S. exporter of "LNG" will be Cheniere Energy and their stock has been sky rocketing . But it loses steam when D.O.E. approves another exporter, my question, who will transport lng and shouldn't their stock skyrocket also??
GasLog will take over the vessel from STX Pan Ocean early in the fourth quarter of 2013 in Spain, which makes her well positioned to take advantage of the current tight supply of tonnage for this winter in the
Paul Wogan, CEO of GasLog said: “ .We are also extremely pleased that we have now demonstrated our ability to execute on the two separate growth strategies that we have been articulating to our investors since becoming a public company. . We have accomplished this by adding the previously announced medium to long term chartered newbuildings at attractive rates and now with the opportunistic acquisition of a secondhand ship. . The opportunity to acquire the vessel at this price was a consequence of the well-publicized difficulties, which STX Pan Ocean has been encountering.".
The price reflected the ability of GasLog to acquire the ship at short notice and without a committed charter, hence enabling the vendor to use the funds positively as part of their own reconstruction. This speaks to the strength of the operation and financial platform, which the Company has created. With this acquisition we are further building a strategic mix of potentially more opportunistic vessels that complement our existing portfolio of medium- to long term fixed vessels. We think this mixed portfolio is the best way to maximize risk adjusted returns to our shareholders in what we believe will be a very positive long-term LNG transportation market.”
Simon Crowe, CFO of GasLog said, “Our current financial position and b