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Navios Maritime Acquisition Corporation Message Board

  • winomaster winomaster Dec 13, 2012 6:02 PM Flag

    Comments On STNG

    STNG is currently on a tear with its stock up 21% over the past two weeks. Some details:
    1) The had a stock offering on Dec 5 that did not phase the stock price.
    2) They have announce the purchase of 6 MR newbuilds, eco type for delivery in Q2 & Q3 of 2014.Purchase price $33 m each
    3) They have options on 8 more vessels
    4) The owned fleet of STNG currently stands at 11 vessels..They have now contracted for a 54% expansion of that fleet. If they exercise the remaining 8 options, their owned fleet will have more than doubled.

    Comment: This is an impressive move. They might have pushed back delivery into 2015 for greatest potential. But they may know more than me on that. I hope so.

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