Hopefully someone actually reads the results and realizes the "solvency" issue of CMA CGM isn't significant. Meanwhile, GSL gets contracted rev, when put in a DCF at even drastic assumptions, is massively undervalued.
CHANGE OF DATE / CMA CGM - Q3 2011 Financial Statement of Accounts - Conference Call
It appears that the date of the 30th of November is not convenient for a large number of Bondholders as a High Yield Conference will take place the same day.
We will therefore re-schedule CMA CGM Q3 conference call for the next day, December the 1st at the same time (4pm CET / Paris time).
Q3 2011 financials will be made available on the 30th of November.
Sorry for inconvenience caused.
Serge CORBEL, Vice President Corporate Control CMA CGM
Does anyone know if there is a way to listen in on this call? On an off topic note, I just listened to the SFL quarterly call. The stock was hammered yesterday as FRO announced poor results and the need for a restructuring in the short term if rates don't stabilize/improve soon. In 2004, SFL, like GSL, was single counter-party sourced to FRO. Today, while still significant, they are far more diverse and get the majority of their cash flows from their drill ship leases. Hard to believe the JF will let FRO fail. I had a significant stake in SFL acquired in the $6.00 range that I sold around $24.00 but have today grabbed another large position at 10.35. They just confirmed another .39 divy and the CC was generally pretty sound. Bit a call option on JF's ability to steer through the stormy waters, but at nearly a 15% yield and a strong track record, they look interesting. I am no longer adding additional GSL having added a final 10K more at 1.80. Come on world economy, let's start to put together a little run in the next few years......