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Knightsbridge Shipping Limited Message Board

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  • phughyoung phughyoung Jul 16, 2012 10:42 PM Flag

    Norwegian Drillers Strike

    What if it's eliminated altogether? That's a real possibility, IMO.

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    • No way - its going to be cut a nickel, which is the difference to the downside in earnings from 1Q to 2Q. Still over 10% dividend, price per share is firming if not climbing upward, now is definitely the time to buy. The share price is way understated and target prices affirm that position.

      • 2 Replies to rogers2308
      • I would buy with both fists if they announce the purchase of some ships.
        Until then, this is a company with rapidly depreciating assets. There is absolutely no reason top buy this company at this price based on current assets.

      • Glad you have so much confidence in your predictions.

        However, not to beat a dead horse, but the difference between earnings from 1st to 2nd quarters hardly predicts earnings from the 2nd to the 3rd or 4th quarter. Even if it did, it wouldn't say much about the dividend. There are many other factors in that calculus.

        And to state that the dividend is "still" over 10%, that the price is "firming if not climbing", and that now is the "time to buy" is just wishing that those things predicted the future.

        I don't agree and think that there is still considerable risk on the downside. Oil prices are climbing again, which depresses demand. You know that tankers are profitable at the margin, and it is marginal demand that gets killed when prices are high and rising. And that is just one of the issues, many of which have already been discussed on this board.

        Good luck to you. If I'm wrong, you'll do well and I'll have nothing on the table but cash.

    • agreed

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