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Ultrapetrol (Bahamas) Ltd. Message Board

  • laura_axeen laura_axeen Apr 4, 2012 9:25 AM Flag

    One thought on the notes due in 2014..

    The remaining OSV's to be delivered would come extremely close to eliminating these notes if they were to sell them.
    1.Revenue per OSV is increasing by thousands per day.
    2.The value of these ships are over 40 mil per ship.
    Both these facts combined....can easily allow for a significant reduction in ULTR's debt percentage.

    Basically I am saying with one transaction, ULTR could easily change their debt structure, debt percentage, etc... Mr. Menendez knows this...listen closely on the Q&A's. Its not like they have to guess at the future....they lock in for years at great rates. Knowing their debt, knowing the financing of OSV's, knowing future earnings, knowing if they should sell and knowing if they should a decision any of us could make when the time comes as these ships are delivered. ULTR's debt is not a concern, it is a lever (leverage) they can move at any time...that's what its all put your right foot in put your right foot out

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    • Should have them all within the next 18 months...hopefully all the pushboats are re-engined by then as well. Sales of barges should be used to pay down debt. If all that can happen the stock can certainly turn around, though don't expect it anytime soon.

    • Given the repeated delays in the delivery of these ships, I think it is not entirely unreasonable to wonder if they will ever be delivered. I think they will be, eventually, but one cannot help but wonder sometimes.

    • Really? I give info on 100 mil yet to become an asset and you (debreeze) have to say ...(this is a false statement"). I knew I could count on you to have the need to be....the only voice for this site. The minimum is 100 mil.... if remember correctly a response on a question during a call was 45 mil value per ship. I also remember every ship coming off contract could actually have an additional earning of 4 mil per ship. Yes, earnings! If these new ships obtain a contract of over 33 thousand dollars per day....the value of these 4 ships will be beyond the cost of these ships.

      Keeping in mind, for every thousand dollars a day these ships can gain in revenue....actually does mean earnings....everything else is already accounted for. ,,,, Oh that's richt, now you'll say ...what about taxes.

    • "The remaining OSV's to be delivered would come extremely close to eliminating these notes if they were to sell them."

      This is a false statement.

    • the notes are a bargain. I am going to buy them next week.

    • Don't recall metioning their wasn't any financing. To be exact...there is to date only 31 mil of financing out of the 57 mil aready paid. Left to pay or finance is 31 mil. Meaning at most 62 mil in financing on 4 indian built OSV's worth over 40 mil a piece. That alone.. 100 million dollars to significantly change any debt ratio ULTR has...or to leverage if the timing is right. Again, not counting their earnings potential.
      From ULTR's filing:
      On February 21 and June 13, 2007, UP Offshore (Bahamas) Ltd. (our holding company in the Offshore Supply Business) signed
      shipbuilding contracts with a shipyard in India for construction of four PSVs with a combined cost of $88,052, with contracted deliveries
      extended to 2012. The purchase price is to be paid in five installments of 20% of the contract price each, prior to delivery. As of
      December 31, 2011, UP Offshore (Bahamas) Ltd. had paid installments on these contracts totaling $57,233, which are recorded as
      Advances for PSV construction.
      As of December 31, 2011, the Company had remaining commitments of $30,819 on non-cancellable contracts for the construction of four
      PSVs in India scheduled for delivery in 2012.

    • so much to balance boat production barge production weather crops river flow changes in supply and demand of soy bean and iron production and contracts. WE know NM raised the rater on tranportaton 25% Manaagement has their hand full today and need to be ready for 2013

      keep the messaages coming please

    • Are you forgetting that the PSVs are all pretty much 100% financed already? Meaning you sell all four and you only have the incremental gain on the sale of ships for additional debt reduction.

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