im with you jack. i really dont know what im investing in now. im not familiar with land drilling. they really didnt flesh out any details either. im sure JF other company Archer is gonna get some added well work. is this just a way for rosfnet to sidestep sanctions?
i owned most in ira, i cant collect taxes back. i didnt mind when i was at low 20's the yield was still high. i moved into oil services like nadl, NAO that service the arctic area to still capture some of emerging arctic oil plays. and am getting better yield( 9-10%) without taxes taken out. those dividends will grow as well too.
well MR defined by scorpio is 52k which is panamax. wouldn't the lr2 equivalent be an aframax @ 114k.
From taurus tankers
The Long Range 2 Product Tanker (LR2) ranges in size from 105,000 to 115,000 dwt and is the largest specialized clean petroleum product tanker. Thanks to specialized tank coatings, the vessel is able to carry an array of refined crude products which require special handling; a reason why the LR2 is often referred to as a “coated Aframax.”
These product tankers are designed to carry refined cargoes ranging from jet fuel to heating gas oil with specific tank segregations that allow the vessels to carry multiple grades of cargo on a single voyage. The vessels also have the ability to carry crude oil and therefore are known for their trading flexibility across both clean and dirty petroleum markets.
need more consolidation in the space to ensure it. that is why avance was trying to merge with this company. the pool they set with phoenix tankers will help keep rates elevated. once the div starts ppl should take notice and stock will advance.
spot rates are forecasted to remain strong into 2015 which should play in dorian hand as they were one of first to order and have inside track on deliveries. 2016-17 is anyones guess, it should start coming down closer to the time charter rates. But that is still good money. it all comes down to US fracking and how much of this stuff they can extract and grow exports to absorb the fleet.
this is good companion stock to GLOG. it gives you the regasification that golar has. GLOG+HMLP GLNG. These fsru units are needed to import the cheap gas into country. WIth russias actions of late many countrys in europe will be looking to add lng imports to break reliance on the russian pipes.
A new article is up on bloomberg. seems sanctions take effect aug 1 so being signed before that they can be grandfathered in. And it looks like norway is going to join the EU sanctions. im hoping this all goes away by the time the other contracts are to start.
i had to sell out. Not being able to write off div in my retirement was main cause for selling cause the yield no longer made it worth it. needed funds for other opportunity's out of my retirement in other. I feel there is a glut of oil coming. libya will " cheat" on their exports, just as iran is now doing. they both need money for country needs. iraq looks stabilized and nothing will happen with russia. statoil is my favorite in oil majors. i plan to revisit as they have good exposure to the arctic opening up for drilling after the caps melt.
this is trading like a similiar stock i own gaslog ( glog). the fundamentals where always good and future was bright. But ppl are so impatient these days,until div started no one took notice. i accumulated whole time have average cost 10.85 i made out well. So i think until we get close to dividend keep bumping along bottom. Im thinking of rolling my SDRL into this cause feel has more upside. thoughts?
sb was profitable since downtown. that to me shows good managment when they locked up rates before the crash. SB has all eco ships(avg age 4.7years)which are cheaper to operate and preferred by charterers. The family of Polys Hajioannou owns about 53% of safe bulkers vs 13% for economu. So they have good interest in not blowing up the company. SB is pure play in dry bulk only focusing on task at hand. Dryships has tankers along with bulkers. SB has maintained the div and is now rising, none for dryships. Dryships may be good for trade but i feel SafeBulkers is better INVESTMENT!
i see TK the parent buying in on these offerings. with only 11.9% of shares that is really low . that is why they didnt raise the div this year. the parent wanted to get in before the raise next year. If TK buys will help blunt dilution as they will be long term holders not trading the shares.
I like that cooperman took such large stake. hopefully that will keep herb honest with secondary raises, or force him to use debt instruments.
those where jones act tankers that kinder bought. they are basically an extension of their US logistics chain, as they are used to ship oil from us port to us port. that is a protected trade that international shippers are not allowed to work.
On nat i agree below 9 with Ron. i would save some for after earnings to buy. while rates are good now. it came to late in quarter to avert a loss. If you want the NAO shares need to be in by 3q.