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Global Ship Lease, Inc. Message Board

  • edgetrader2001 edgetrader2001 May 14, 2012 11:11 AM Flag

    Call recap

    Pretty vanilla call (which is why we own this thing, right?) No surprises.


    - panamax day rates have risen to $10k/daily from $8k as of last call

    - Ian stated we would need an additional waiver if ship prices stayed where they are come November

    - DRZ analyst pointed out that cash flow paydown should get us below 75% LTV alone. Ian did not confirm or deny. DRZ analyst asked what level board was seeking for comfort (60%?). Again, nothing specific from Ian

    Noticed that bid/ask of stock shifted down when Ian mentioned raising capital to pay down debt (this was a completely theoretical response to DRZ's question on LTV). I think for those who have listened to past calls and have spoken with the company, there is no intention of raising equity capital at these levels. So, any market reaction to this comment, is unwarranted, in my opinion.

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1.45-0.05(-3.34%)May 26 4:00 PMEDT