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  • johnny66_invest4us johnny66_invest4us Nov 15, 2012 6:14 PM Flag

    What is this stock worth

    the banks were already offering a deal but OSG refused because of the terms..a liquidation (chapter 7) is likely not happening because of the current market situation and the fact that OSG is able to pay the interests from the EBITDA income of its likely the banks will let it run with loan covenants, additional guarantees and higher interests. The tankers are difficult and expensive to park.

    In any case the restructuring of the debt will have hefty price and the shareholders lose a portion or even all of the $1,47B equity. However the value of profitable US flag business (which did not bk and maybe worth $1B alone) and the charter values may not be fully valued in the balance sheet so IMO there is a good chance of getting a part of the OSG II..but this is a stock casino as said.