My comment about having leaked news was meant to be a joke. Maybe i'm being naive, but what negative news could there possibly be that justifies a 10%+ selloff? I mean, practically everything about this company is knowable in advance of the earnings release. The only real unknown is the fleet utilization rate, and that's basically just a rounding error.
I'm totally winging it (since lately I haven't been paying as much attention to GSL as I should), but I think tomorrow we'll learn that adjusted EBITDA is around $25m and that there will be no change to the guidance on when dividends might resume. There will be no "news" of the significance required to move the needle on the financials. All of that is the same story today as it was on Friday, but today the stock is 10% lower, on the basis of what?
Either in 18 hours we'll learn how wrong I am, or today's buyers are getting a relative bargain.
in the past market selloff...this stock would not only stay rock solid but in some cases, it would go up.
This time, some news seem to have leaked and the stock has been falling....it seems bad news are coming.
I don't know who's selling today, but if you're selling because you think GSL is somehow tied to Greek economic woes then you're sorely mistaken. (If, on the other hand, you're selling because you have leaked access to tomorrow's earnings report, then you're a damn genius).
Earnings on Aug4, 2015 before Market Open. Based on Annual Meeting Proxy voting proposal and last few days of trading, it seems there is not ship purchase or diviy announcement coming. Lets hope i am proven wrong. Also, it is already august and even if there is ship purchase and or diviy announcement, we are talking minimally september.
I agree waiting isn't fun. I think there is a great chance we get the acquisition and divvy on earnings day, but if we don't I expect the ship acquisition very soon after. The catalysts of sustainable large dividend, accretive refinancing, and rapid dividend accretive fleet growth are imminent.
Earnings to be released on August 4, 2015 but still no divvy related announcement. Lets hope they announce ship purchase before or on that day. The Stock just cannot go above $6 pps and that is now worrying me.
1. They have the cash TODAY to make a 8000 TEU ship acq adding $8m on incremental EBITDA. They only need $2m on incremental EBITDA to meet their 2.25x Fixed Coverage Ratio covenant - triggering dividend restart.
2. If they wanted they can borrow an additional $50m cash at 50% LTV on their 2 unencumbered ships.
3. They will announce the dividend plans the same day they announce the ship acquisition (per mgmt.)
I was going to ask the same thing. I believe a dividend is coming but not that soon. If someone has a logical reason why it is, I'd really like to hear. No idle speculation though.
Sentiment: Strong Buy
absolutely no reason we need to wait until september. I expect an imminent ship acquisition and resumption of dividend. Within one month.
Now the 2Q and 1H2015 is complete with now news from GSL regarding dividend restart. So looks after the latest news release of charter increase, we will will have to wait till sometime mid sept 2015 for the additional vessel purchase. Lets hope I am wrong !
i expect the company to acquire 1 more ship within a month or two. The dividend restart will be announced the same day the ship acquisition is announced. I think it will be between .40-.50/sh annualized to start and will increase from there