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Navios Maritime Holdings Inc. Message Board

  • mojoinjun mojoinjun Jan 14, 2013 3:37 PM Flag

    Any Thoughtful Insights...

    .... out there? hoping we can break away from the a**holes' daily updates

    Sentiment: Strong Buy

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • We're all here for the div and when it gets to little or goes away, so will we !

      Sentiment: Buy

    • Foo, here is one view on Greek Tax from a shipping insider ,

      Seems from the reports that they are looking to raise money for just this year and next (it seemed like it was not going to be a permanent tax, but don’t know at this stage). Total exposure appears to be like 100 million Euros divided by 3,500 ships controlled by Greek owners, so about EUR3,000 per year per ship. Not sure how they apply this – what is considered a ship for tax purposes. Don’t know anything other than what you have already seen in the press.

      • 1 Reply to mojoinjun
      • Thanks for poking around. Yes, the numbers for expected revenues appeared modest, and of course the NM cos have offices elsewhere. Had me thinking though, where does AF & co want to be able to hobnob? GR has to be high on the list - worth a marginal 'temporary' expense. A presence in Greece is a business plus, but if it becomes less of a haven it will begin to push some cos away. Probably not NM but they'll need to be careful or they could end up the London of Finance. I suspect any real affect on an NM co bottom line will be virtually imperceptible. Nonetheless the story has the potential to support those who would trash NMs stability along with a basket of others particularly if GR get back into the headlines. I lightened NM and considered lightening my larger NNA since I had ventured in a good bit deeper couple weeks ago at as low as 2.18, but can't bring myself to do it.

    • I bought shares of ALDW and NGLS today. Both are refinery MLPs with assets, including export facilties, along the Gulf coast. Good future in LPG and other clean cargoes as I understand it. Large gas carrier rates are pretty solid right now. Maybe help the NNA picture?
      Holding NMM but no NNA or NM at the moment.

      That's the best I can do.

      • 1 Reply to keebon
      • Some more insight perhaps, from the case of StarBulkCarriers (SBLK) which some may be familiar with. The company was inching closer and closer to the abyss and then their lenders required them to take a major charge off on the value of a good portion of their fleet, including all boats without charters. Now, that was followed with renegotiation of the terms of their debt to allow them to defer payments due in 2013 and 2014 (I think), and redo other terms. Two things... first, it only seems to delay the inevitable by keeping the company on life support for another two years, and secondly, I wonder if this isn't a glimpse of the preferred way to deal with other stressed companies... prolong the agony and only delay the inevitable. Seems to me, in turn, that will only delay the shakeout and recovery of dry bulk.

        FWIW

 
NM
8.14+0.02(+0.25%)Sep 16 4:04 PMEDT

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