Given the massive burn, I started looking at WLT as an obvious candidate for Chapter 11 which is clearly how the equity and debt market currently sees it. However, even under current dire pricing, they have 2-3 years of liquidity for the markets to turn which can be a lifetime in the coal markets. That estimate doesn't take into account further capital spending cuts or using the PIK toggle feature of their recent debt deal. It is worth noting that the Company was able to refinance their debt with no incremental equity raised (though they did do a debt equity swap at a discount to par). I view this step as very equity friendly. Management owns a lot of stock bought at much higher prices. They are fighting for equity. If pricing improves to more normalized levels, you could easily make 3-13x your money on the common. WLT is also constantly rumored to be a takeout, and I haven't even addressed those scenarios as you don't need to down here.
Maybe he'll get the message. Most annoying poster EVER
Good stuff. Maybe that will shut that lucetto idiot up but I doubt it. He haunted the DRYS board for a couple of years and nobody listened to him there either.
Maersk Broker: Capesize rates set to soar now
BY LOUISE VOGDRUP-SCHMIDT
Published 18.08.14 at 14:51
The proper conditions are in place for the Capesize rates to make a big leap, and the rates are already underway, Research Manager Rikke Lysberg Bernbom of Maersk Broker tells ShippingWatch.
"The average time charter rate currently stands at around USD 16,000 for Capesize. For September the forward rates, FFA (Freight Forward Agreements) look set to reach USD 20,000, and the total average for the fourth quarter will be USD 26,000," she says, adding:
"There's a lot of optimism in the market, driven by the massive volumes of iron ore being sailed to China. The Chinese are importing on a large scale, while the country is also increasing its steel export. In the past, the steel export was around 5-6 percent, while it's more than 10 percent now."
Chinese import and export
The growing Chinese import is a result of the overcapacity in the market for iron ore, which makes it cheaper for the Chinese to import Australian iron ore - a commodity that has become cheaper and cheaper - instead of using the iron ore produced by Chinese mines, as the latter is far more costly.
Where's the can of Raid?
just so you know. sfvip is an emotional amateur who couldn't trade if his life depended on it. his comments are worth what you paid for them
aren't you the coolest little hall monitor. 100 shares traded since that monumental release, bid still above today's low. Get a grip. You think all this wasn't known and priced in?
They're not dangling by fingertips or anything. Come on, things will work out fine. I'm not the least worried. I bought WLT at 4.30 (in RT so nobody bother saying it's BS) when all the trolls were screaming bankruptcy. That was my business. I know the difference.
this lefkowitz guy is freeloader. All he cares about is his 3 cent dividend or whatever it is . Most annoying board EVER
If CAS Wins Vote Expect Bump To $23-25
by pwrsurfer •Jul 15, 2014 1:49 PM
we remember ALL predictions in this shoppe
yeah, I remember people saying that in April of 2009 when the S&P was a 850. Axiom getting a little antsy there, trollbert? Start a rumor of a SEC investigation of the vote or something. That'll get you out.
I'm fixated on keeping it real and you were a basher all the way down.