Me either. Hope they exist and are respected. I like what they have to say and like everyone else would love to see us back in the upper 20s or low 30s, but want hold my breath. Just keep on making enough $ to cover the nice dividend and as I have said before, I like the fact they have been around coming up on 100 years in 2015.
I think we were down about 14% yesterday and fortunate to regain about 9%today. We do have a long road back but hope we can pick up that other 5% just to get back where we ended last Friday and hopefully at least stay Flat for a while. It certainly is 1 day at a time and I am sure it want be a quick trip back as there will be some profit taking on behalf of the day traders, but we should see high 20s again hopefully early in 2015. This is a good old(almost 100 years) steady conservative company that has been around for a long time so it should do well for the long term.
My sentiments exactly in another email. In 1 year this company will be celebrating it's 100TH birthday. That tells alot as it has obviously weathered many storms over 100 years.
Many of you forget that this company is almost 100 years old and obviously survived the great depression and the 2009 recession. What makes you think it is dead now. This is a great buying opportunity, but trying to time wether you get it for 17 or 19 is a mute point. CLMT is not a driller of oil and is only oversold due to guilty with association concept. They are going to make more $ now than before the drop in the price of oil. It was at $27/28 in Sept and it can be back there before you know it once people realize it is not a producer of the raw commodity. Do you realize how many #$%$ there are out there that think CLMT is a driller simply because they deal in, refine and manufacture oil specialty products? Once oil turns and /or someone realizes they are not a producer, the worm will turn.
Great Point and so true. CLMT is so wrongfully over sold all because of being guilty by association with the folks who are indeed at the point of exploration/drillers/producers of oil. Hopefully it is a buying opportunity for CLMT as painful as it is to see the drop in the stock price and at some point someone is going to realize, CLMT is not a driller/producer and hopefully understand they are on the refining side as well as manufacturer of specialty products that are all oil based which means CLMT is paying less for the raw product just like everyone else and making the same or perhaps even better profit on the sale of their various very diversified products. Once people discover this(realize it or think about it) hopefully the buyers step in with wreckless abandon and we see the stock price recover it's losses.
Don't forget that we have come down from $20+ and some people have a $17 price target, so even if Deusche Bank is right, that is actually good for everyone who got in at $15 or below and those that bought more down here to perhaps have an average cost of $15 or less. For those that got in in the high teens and even $20, that does not sound all that great, but still better than where we are now.
True about some contracts expireing in 2015, but that represents approx less than 6% of all existing chartered out contracts. The positive news is that 87.8% of contracted revenue goes out longer than 3 years(72.9%/5-10yrs & 14.9%/3-5yrs) so if people are not optomistic about new contract terms, any new contracts that renew in 2015 are a very small % of their/NMM overall revenue and only 12.2% over the next 3 years, so they are in a very good position as alot of positive things can happen during the next 3 years to be able to get favorable renewal contracts. Equally as important is the financial strength of the lessees, and that is very favorable as well. Companies including HMM Shipping, Yang Ming Shipping, Samsun Logix, Excelon, COSCO, all well healed financially and creditworthyness. I think NMM is in a good position and will do well and dividend is very safe and right now as "bourbon-cornflakes" says above, NMM is wronfully being punished as being associated with the drop in oil and transportation of oil. Good luck to all.
Think there are many investers that simply think of this stock being so closely related to oil that they inadvertantly associate it with the oil producers taking a hit and do not think about CLMT is paying less for the raw commodity which should have a positive effect on all the diversified products that are in fact oil based products that CLMT can charge the same price or even discount now and still make more profit.(cosmetics, lubricants, waxes, solvents, paint, Jet fuel, just about any oil based product imaginable, they are involved and sell it and all the while paying less for the oil. Makes no sense to be down so much in the last week other than just being lumped into the overal oil energy/production business and market being down in general. Probably a great time to be adding to your position if you have plenty of Dry powder in your pocket. It may well hit the 52 week low but when it capitulates and reverses course to the positive direction, it will do it with wreckless abandon
Great Point! Something I totally ignored. Actually, that should be reason for some positive sentiment when you realize NMM performance has nothing to do with the Greek stock exchange and NMM is listed on the NYSE. Overreaction to the downside yesterday for sure.
Scroll down 9 messages ago and look for DIV PAYOUT HEADING and go to choochoo reply and it is explained in specific details. 4 entities mentioned(NMM, NM, NNA and NAP)
You will get back to 16.70 sooner than you think and actually higher than that + collect a nice dividend while clawing your way back. There is no reason that NMM should be down here @ 10.50 other than it is being thrown into the mix of other Ships that transport OIL which NMM does not do. Thay are in good shape financially and making $. They will be back to at least your 16.70 and probably a little higher within the next 6 months and you get 2 dividends during the same time period. Give you something to look forward too and anticipation of the growth will keep you interested.
Comparing this to SDRL is like comparing a cat to a dog. You are exactly right about the committed long term contracts, and NMM transports Dry Bulk Commodities, not oil. The dividend will continue and the shipping lanes for dry bulk remain open for business.
There are 4 entities that can get all of us confused that are all related. NM is Navios Maritime Holdings and pays a .06 qtrly div. It owns 18% of NNA/Navios Maritime Aquisition Corp that pays a .05 qtrly div and NNA is the general partner that owns 57.5% of NMM(Navios Maritime Partners LP) that pays the .4425 qtrly div. Also NM/Navios Maritime Holdings has the right to purchase up to a total of 25% interest in NMM. NNA(Navios Maritime Aquisition Corp) hauls Petroleum products(such as oil) and other liquid chemicals; NM(Navios Maritime Holdings) Transports dry bulk such as Grain, coal, iron ore & other dry commodities. NMM/Navios Maritime Partners LP is also a DRY CARGO Transporter. There is the 4th entity that is NAP(Navios Maritime Midstream Partners LP) that is a Marshall Islands Limited partnership formed by the NNA(Navios Maritime Aquisition Corp) to own tankers that transport Refined Petroleum, other liquid chemicals, and liquified petroleum gas and at this point pays no dividend. So, as you can see it is easy to be confused, but the good news as I see it is our interest in NMM and it is the transporter of Dry Bulk and NOT OIL or Petroleum of any kind. I would think NNA and NAP have more reason to be concerned and NMM is suffering the association of the transporters of OIL stocks such as NNA and NAP. The bottom line is NMM is in good shape and all reports I see indicate it is in good shape and doing well and the analysts seem to feel the .4425 dividend is sustainable for some fair amount of time on into the future. I think today is way overdone to the downside and probably a fantastic opportunity for someone who wants to get into a relatively safe good income producing stock. As someone else
indicated on this board, It looks like there is a lot of red today and NMM is just caught up in the overall down day and some people probably are confusing NMM with being a Transporter of OIL as well.
Good move on your part. This has been a good solid stock to own all during the bad times and as you say consistant dividend payer. It is way oversold & could go lower of course(13s) but there is no reason it will not return to the high teens to 20 in 2015 and meanwhile you are going to continue to receive a great dividend. If you bought down here, you are in a good growth potential situation as well as getting your dividend.
People go to jail for that type mess. Doubt there is book cooking going on, but you may be right about a miss on earnings,however both Credit Suisse and Reuters think they are a worthy company as they each have them rated "Out Perform."
Hopefully this "sucker" has decided to level off somewhere between 10+ and 11. Dividend coming up in November so that should help us hold a little ground as well. Anyone think we will ever see 13+ again?