Gas Log has 65 Million shares outstanding. With a Q3 profit of $21m that figures out to be about .32 cents per share. Good results.
Did the release state how much had been expended to reduce the debt of the new builds?
New Fleets Coming
I think I saw that in the next four years there will be over 80 new LNG vessels built in the Orient. Some of those will belong to different companies in new countries entering the LNG transport field,
Including China and Japan
GasLog will take over the vessel from STX Pan Ocean early in the fourth quarter of 2013 in Spain, which makes her well positioned to take advantage of the current tight supply of tonnage for this winter in the
Paul Wogan, CEO of GasLog said: “ .We are also extremely pleased that we have now demonstrated our ability to execute on the two separate growth strategies that we have been articulating to our investors since becoming a public company. . We have accomplished this by adding the previously announced medium to long term chartered newbuildings at attractive rates and now with the opportunistic acquisition of a secondhand ship. . The opportunity to acquire the vessel at this price was a consequence of the well-publicized difficulties, which STX Pan Ocean has been encountering.".
The price reflected the ability of GasLog to acquire the ship at short notice and without a committed charter, hence enabling the vendor to use the funds positively as part of their own reconstruction. This speaks to the strength of the operation and financial platform, which the Company has created. With this acquisition we are further building a strategic mix of potentially more opportunistic vessels that complement our existing portfolio of medium- to long term fixed vessels. We think this mixed portfolio is the best way to maximize risk adjusted returns to our shareholders in what we believe will be a very positive long-term LNG transportation market.”
Simon Crowe, CFO of GasLog said, “Our current financial position and b
DEMOCRATS CAN RUN A GOVERNMENT...THEY JUST CAN'T BALANCE THE BUDGET
Telling them to balance the budget is like telling a drunk its time to stop drinking
Their old saying was that "Running a deficit did not matter, We only owed it to ourselves "
Tell that to the Chinese who now want to cash in our debt markers for real assets. Smithfield Meat and Iowa farm land being just the start of that collection process.
With PGH future focusing of the new Bitunimous wells, does any one know the current range of end products uses of the raw material? What is it used for beside paving binder? What is the current well head barrel price of the material?
I have 'Googled' the subject of Oil Sands and bitunimous and found very little product usage and economic materia avaliablel.
Hoegh LNG announced last October that they would buy 50% interest in STX Frontier as they expanded into the LNG market. Spain was to be the market served.
Does anyone know what hapened to Hoegh's plans that they would cancel their plans and the ship would be sold to Gas Log?
What does that have to do with the delivery of the ship to Gas Log in Spain in the 4th quarter when it is currently listed as being in South America?
Gas Log has bought STX Frontier LNG vessel for 160 million USD.
STX Frontier, built in 2010, had a 3 yr contract with Respol YPF of Peru that started in July 2010.
The ship was in alliance with Hoegh Autoliner.
The ship will be delivered in Spain in 4th quarter and it looks like it will be used in the spot market.