And this is all on a day when every other shipping stock is up 3 to 7% and the market is up huge on the back of good economic news which should help the baltic dry index.
same exact post:
"Are you the new board clown? You sound like one. Do you need some big, red, floppy shoes? How bad are you getting killed on this pig and FRO? Did you listen to that moron Lightson1999 or whatever his latest name is and buy these last week?"
jolynnftfhsieh created today.
I wonder how many aliases he has. And why a so called expert would bother creating aliases?
Huge backlog of orders here. Also the company reported signings in the last quarter of almost 3X what they recorded revenues for in the past quarter. If you do the math assuming the same gross margins, it would add about $20 Million to gross profit and equates to EPS of at least $0.10 per quarter. Anyone have any idea when they get fulfilled?
Did anyone notice the news out of Bloomberg yesterday? Reliance Capital is looking to go forward with a 1.5MW turbine from MY for a huge 2.5GW project in India. Google "China Ming Yang Reliance Energy" to get the full details on the partnership between the two companies from last year. Reliance is part of a huge conglomerate in India that includes the largest privately held energy and infrastructure company in India.
Here are more details on the partnership from last year:
Anil Ambani’s Reliance Group has entered into a strategic partnership w ith Chinese wind turbine maker China
Ming Yang Wind Power Group for developing up to 2,500 MW clean energy projects in India as well as in other South Asian countries. Ming Yang Wind Power has inked definitive agreements with Reliance Capital Ltd and related entities forming part of the Reliance Group.
The Chinese firm’s Singapore subsidiary Ming Yang Holdings (Singapore) Pte Ltd entered into the definitive
pacts. Ming Yang has also inked a Memorandum of Understanding (MoU) with Reliance Power to jointly develop a large portfolio of clean energy projects in India. Further, Ming Yang Holdings plans to establish a joint venture with Reliance group firm Reliance Capital by subscribing to a significant stake in the share capital of Global Wind Power Ltd (GWPL). GWPL is a leading wind power solutions provider in India, in which Reliance Capital and related entities are currently the largest shareholders.
“We are pleased to welcome Ming Yang to India, through their investment in GWPL. Development of clean power is a key priority for India and we at Reliance Power look forward to working with Ming Yang to further develop and enhance our portfolio in both wind and solar energy,” Reliance Power CEO, Mr J P Chalasani, said. As per the MoU, Ming Yang Wind Power is expected to provide total engineering, procurement and construction solutions, including micro-siting, wind resource assessment studies...
Sorry, one other thing...on MY's balance sheet they have "investments in joint ventures" listed at about $121 million as of 6/30/13, up about 8% from 12/31/12. While this is the dollar value invested in these joint ventures, consider that the Global Wind Energy ETF (FAN) is up 50% for the year so there may be upside to this valuation on their books. The company currently trades at a hefty discount to book value of $4.70 without an increase in the value of the joint ventures.
With this partnership, MY will have an approximate 30% market share of the Indian wind energy market. As the only pure play on wind energy in the US markets, MY could be a huge winner down the road.
The initial agreement stated that they would develop a large portfolio of clean energy projects with Reliance Power. Here are the details on the partnership:
"China Ming Yang Wind Power Group Limited (NYSE: MY), announced that the Company, through Ming Yang Holdings (Singapore) Pte. Ltd. ("Ming Yang Singapore"), its Singapore subsidiary, has entered into definitive agreements with Reliance Capital Limited and its related entities, forming part of Reliance Group ("Reliance"), one of India's largest private enterprises.
In addition, the Company has signed a Memorandum of Understanding ("MOU", together with the definitive agreements above mentioned, "Agreements") with Reliance Power Limited ("Reliance Power"), the largest private sector power company in India, both, in capacity under development as well as Market Cap, to co-develop a large portfolio of clean energy projects."
About a month ago, Reliance Capital announced its intention to invest about $15 to 20 Million into this JV (Giving an update on this partnership, Reliance Capital Chairman Anil Ambani today said that the agreement would be closed soon and an investment of Rs 100 crore would be made. "Our agreement with Ming Yang Power from China is in place. We believe that it will be closed shortly and investment of over Rs 100 crore will come through the joint venture," Ambani said while replying to shareholders' queries at Reliance Capital's Annual General Meeting here.).
With news yesterday out of Bloomberg it sounds like this partnership is finally kicking into gear. This could be why the stock is moving recently as this is a potentially game changing partnership for MY.
Does it matter what the decision is as far as a cut? What if they cut the mandate but require use of 15% blend? Or is it all bad news?
Anyone know why this performed so well today relative to DRYS / EGLE / GNK? Is it because they have a better balance sheet and leverage to the spot market? That's what I gather but I can't quite figure out why the outperformance. It's being treated similarly to DSX and NM.
What's the deal with the selloff? Revenues up almost 50% from last quarter on a moderate increase in the spot rates. Industry trends are quite good for the first time in a while, with iron ore inventory levels low and demand rising, ship demand outstripping supply...all of these haven't been in this industry in a long time.
They are buying ships with the potential for 50% returns on their money in the current market.
So what gives? Why the heck would this sell off today?
What are people thinking? Seriously. It's now down 12% from this morning's highs. I listened to the conference call twice and things are definitely looking up. So what gives?
How does this sell down all day long every day? The earnings report was solid, balance sheet is solid, trades at a big discount to NAV, yet it just keeps selling off. Life's too short. I don't need the aggravation.
I've been watching GPRC for a while now waiting for more information on the Green Fence initiative in China. I think this has been stalling their growth while the government clamps down on companies not compliant with governmental import rules. I know that Green Fence is due to expire this month.
If you read through their filings they go into depth about how they treat their imported plastics and waste water. From what I've read a good deal of plastic recyclers in China are mom and pop shops / sweat shops that have no controls over pollution. I'm still waiting on jumping in until I get more clarity but does anyone think there is a chance that GPRC benefits from this? Is there a chance they become one of a small group of approved companies that countries can export waste to?
after hours. Was feeling stupid for selling in the 4.70s the other day but taking this as a gift. I think this can be a high flier eventually because they were formed after the great crash and don't have the debt and old ships others in the industry have. They're able to take advantage of opportunities like this one today where others are shrinking to stay alive. long term picture is quite good for them though because supply growth is falling substantially and is below demand growth