Invested a small amount in this company. Has a lot of debt, but is doing the usual cost saving actions. Pays a div, and in CC ,said they would have sponsor support through 2017.We know what some CEO's word is worth, but am taking a chance.
Crop, my reason for investing in CNNEF is their plan to build a gas pipeline to the atlantic coast. They have 2 major gas producing wells, and the price for gas on atlantic coast is based on eurpoean prices and not the local inland price. The oil side for me is a sideline. Thanks for your input.
Bay, yes. Bought a while ago and made over $20k when I sold. Bought again and up over $11k on my current holding. Cannot complain.
rb, EURN, FRO and DHT are in the same boat.(pun intended). Tanker rates are fairly low and all 3 have VLCC breakeven rates of about $23 per day. You can work outr from current charter rates how much slack they have to make money.
Suadela and keebon, . My problem is that shares are fully priced, and the market seems to be a reluctant bull market in it's final phase. I hold for divs, FRO, SXCP,AMID, TPVG and GSL-PB. For long term capital gains I hold PWE , ATSG and CNNEF.
FYI , I bought PWE a few weeks ago. They have reduced debt to about $600m, and have sold their highest production cost assets. Looks like they have plenty of dry powder to develop the remaining properties.
My only two upstream plays for the long term are PWE and CNNEF.
Stagg, one thing is consistent around the world. farmers are always complaining, about too much rain, too little rain, too hot or too cold : )
Bought a 1000 shares as a spec. Amazon owns part of the company , and ATSG is going to buy20 Boeing 767,s for Amazon deliveries alone. They also a lot of business with DHL, and as a long term growth story could be interesting. No dividend.
Suadela, the container shipping market is a shambles. Far too many ships available for the level of trade. Charter rates are so low that owners barely cover costs, if they find work for their ships. This situation will continue for at least the next 3 years.
I also have a couple of thousand FRO, but sold covered calls to raise some cash. Will be visiting the States in 2 weeks time . Looking forward to it.
rogers, there is a report out that China has now filled it's strategic oil reserves. There is now an expectation of lower volumes being shipped to the east.