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发表于 17-9-2008 08:39 AM
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16 September 2008
Baltic Dry Index (BDI) +13 4760Spot Rates | | BCI | (Cape index) | BPI | (Panamax index) | BSI | (Supramax index) | | INDEX | | 6471 | +102 | 4695 | -17 | 3086 | -16 | | SPOT 4 TCE AVG | (USD) | 66038 | +1277 | 37911 | -96 | 32270 | -164 | | YESTERDAY | (USD) | 64761 | | 38007 | | 32434 | | | YEAR AGO | (USD) | 131275 | | 69529 | | 57232 |
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发表于 17-9-2008 10:57 AM
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獲獻議入股POSH‧大馬散裝貨運拓展新盈利
大馬財經 2008-09-16 18:11
（吉隆坡）大馬散裝貨運（MAYBULK,5077,主板貿服組）獲獻議入股太平洋岸外服務公司（POSH），分析員認為這是此公司進軍岸外油氣海運支援業務令人振奮的開端，有助此公司在傳統乾貨運停滯後開發新盈利來源。
乾貨運營運情況低迷
聯昌研究說，大馬散裝貨運的核心業務乾貨運營運情況低迷，貨運收費2009與2010年看低，相對造新船費或二手船、油槽船費用非常高，乾貨運收費率未來兩年不會調漲。
聯昌預測此公司淨利在2008年達6億810萬令吉後，2009和2010年將分別下跌至3億1700萬和1億6140萬令吉，有必要拓展新盈利來源。根據估計，此公司這兩年的現金會達每股1令吉21仙和1令吉21仙，有充裕現金作額外投資。
大馬散裝貨運70%盈利已宣佈用來派息，同時又無資本回退或拆細股票計劃，如果能把多餘資金投資在蓬勃的岸外油氣支援服務業，這將有助帶來新盈利來源。
現金12億融資無問題
達證券估計，此公司截至6月杪的現金達12億令吉，融資方面完全沒有問題。
受全球和區域股災衝擊，大馬散裝貨運無法因為這項消息受激勵，以下跌6仙的3令吉作開後，雖一度回收至3令吉零4仙，但大市特別疲軟，此股欲振乏力，最終以3令吉零2仙作收，下跌4仙。
大馬散裝貨運接獲大股東新加坡太平洋海運（Pacific Carriers）獻議，洽商入股POSH，投資額介於於5億1751萬5000至8億6252萬5000令吉。
太平洋海運和大馬散裝貨運皆為大馬首富郭鶴年旗下公司。
POSH目前是東南亞最大的岸外油氣業海事支援服務公司之一，目前擁有逾70艘郵輪，未來3年將獲移交52艘郵輪。
分析員指出，考量POSH未來3年擴展艦隊規模74%，因此目前趁早投資新領域，可在乾貨業務停滯後拓展新盈利領域。
目前唯一的問題是出價，主要是手頭上沒有POSH的盈利與資產估值詳情，這必須由郭氏家族說明。
儘管波羅的海綜合指數（Baltic Dry Index，BDI）未來2至4週近新低，預期10月至11月間回彈至6500至7000點之間，但分析員基於中國與全球經濟疲弱，而對乾貨運業務表示悲觀。
進軍岸外船運服務業
聯昌認為大馬散裝貨運入股POSH ，無疑是困局中作出大變革的一項步驟；達證券對這項措施保持中和，並認為大馬散裝貨運此舉是進軍岸外船運服務業令人振奮的開始。
“國際岸外支援船隻服務近幾年享受大幅增長，岸外支援服務船（OSV）近期一片蓬勃，主要是各大油公司的高工程與採購（E&P）活動，另外OSV包船服務需求殷切，以支援火熱的油氣業。”
不過，儘管看好擴充業務方向，但達證券認為，油氣支援業務很多船隻正在趕建中，未來供應過量可能會對出租價有負面衝擊。
星洲日報／財經‧2008.09.16
http://biz.sinchew-i.com/node/16524 |
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发表于 17-9-2008 11:09 AM
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Wednesday September 17, 2008
Maybulk share price down on falling shipping rates
By IZWAN IDRIS
PETALING JAYA: Falling shipping rates continued to weigh down on Malaysian Bulk Carriers Bhd’s (Maybulk) share price yesterday, with news of the company’s plan to diversify into the oil and gas support services business failing to spark interest.
A lack of pricing details kept most analysts from projecting the potential impact of the proposed diversification, although Kenanga Research did note that “the offshore marine support investment could potentially mitigate earnings volatility from bulk shipping’’ for Maybulk.
Shares in Maybulk eased back 4 sen to close at RM3.02 yesterday with 91,330 shares changing hands. The stock hit an 18-month low of RM2.99 last week, down 33% from this year’s peak of RM4.56 on April 26.
The sharp decline from its April high was largely attributed to concerns that earnings growth would come under pressure as freight rates for dry commodities sank.
The Baltic Dry Index, which tracks shipping rates of iron ore, coal and wheat on dozen of export routes dropped 1% to a new 18-month low of 4,747 points on Monday after losing 1,000 points last week.
The London-based index had fallen 60% from a record 11,793 points registered on May 20.
On Monday, Maybulk told Bursa Malaysia in a filing that the company was invited by Singapore-based Pacific Carriers Ltd (PCL) to take up a stake in a unit involved in oil and gas marine support services.
PCL owns a 34.5% stake in Maybulk.
PCL’s wholly owned PACC Offshore Services Holdings Ptd Ltd (POSH) operates a fleet of 70 vessels and is scheduled to take delivery of another 50 vessels over the next three years. The fleet includes anchor handling tugs, heavy lift barges, supply tugs, tug and barge sets, accommodation barges, as well as anchor handling and supply vessels.
Maybulk was offered to buy new shares in (POSH) valued at between RM520mil and RM875mil. The company has a cash pile of RM1.2bil, which would ensure it has enough money for the acquisition and still maintain a more than generous dividend payout.
CIMB Research said the venture into oil and gas marine support business could turn out to be “a good deployment of excess cash’’ by Maybulk. But it noted that the dry bulk shipping sector would remain challenging with freight rates likely to trend lower in 2009 and 2010.
However, the research house predicted that shipping rates would recover from recent lows to around 6,500 points to 7,000 points by November.
http://biz.thestar.com.my/news/story.asp?file=/2008/9/17/business/2046000&sec=business |
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发表于 17-9-2008 11:12 AM
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Not all pleased by Maybulk plan for unit
By Jeeva Arulampalam Published: 2008/09/17
INVESTMENT analysts gave mixed reviews to a related-party proposal by shipping company Malaysian Bulk Carriers Bhd (Maybulk) to buy into an offshore marine support services unit.
"It's not attractive qualitatively. For Maybulk shareholders, what they had bought into was a shipping company and not an oil and gas firm," OSK Research Sdn Bhd acting head of research Chris Eng told Business Times.
An analyst, who declined to be named, added that the investment could eat into Maybulk's future dividend payout as its excess cash is reduced.
On Monday, Maybulk's major shareholder, Singaporean Pacific Carriers Ltd (PCL), invited the former to invest in PCL's wholly-owned unit, PACC Offshore Services Holdings Pte Ltd.
Maybulk would buy new PACC Offshore Services shares valued at US$150 million to US$250 million (RM518 million to RM863 million).
PACC Offshore Services, which provides support services to the offshore oil and gas industry, has more than 70 vessels, with another 52 to be delivered over the next three years.
Eng said that with oil prices falling, it may not be the right time for Maybulk to diversify as offshore vessel charter rates are under pressure.
Some analysts also expressed concern over the related-party deal because of risks such as overvaluation of assets.
Maybulk told Business Times that it would decide on the deal by the middle of next month, after it has considered all aspects of the proposed investment.
"Barring unforeseen circumstances, (the deal is) expected to be completed before end-2008," a director said in an e-mail response yesterday.
The director also said that the proposed investment would translate into an equity stake of 13 per cent to 21.7 per cent.
Maybulk views the oil and gas sector as a growth area. Its investment in a second-hand container vessel, which will be converted into an offshore accommodation vessel, marks the group's entry into offshore support services.
Kenanga Investment Bank analyst Liong Chee How said the proposed investment seemed favourable at face value as the offshore oil and gas sector was stable.
CIMB Research analyst Raymond Yap said the sector would do well as long as oil prices remained above US$60 to US$70 (RM207 to RM242) a barrel.
However, both Liong and Yap added that the caveat to the deal was the price.
Kenanga also said in its report that Maybulk's cash coffer of RM1.2 billion as at June 30 2008 was sufficient to finance the proposed investment.
"We estimate the group's cash level at RM700 million by year-end, post-investment in PACC Offshore Services, is adequate to support our financial year 2008 dividend forecast of 48 sen," Kenanga said.
It added that the new investment could help mitigate earnings volatility in the bulk shipping business.
Maybulk's share price declined 1.3 per cent to RM3.02 yesterday.
http://www.btimes.com.my/Monday/OurPick/jmbc16-2.xml/Article |
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发表于 19-9-2008 08:14 AM
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18 September 2008
Baltic Dry Index (BDI) +102 4958Spot Rates | | BCI | (Cape index) | BPI | (Panamax index) | BSI | (Supramax index) | | INDEX | | 6606 | +28 | 5243 | +312 | 3087 | +10 | | SPOT 4 TCE AVG | (USD) | 68415 | +861 | 42414 | +2550 | 32280 | +102 | | YESTERDAY | (USD) | 67554 | | 39864 | | 32178 | | | YEAR AGO | (USD) | 138908 | | 72690 | | 57236 |
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发表于 19-9-2008 11:00 PM
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19 September 2008
Baltic Dry Index (BDI) +17 4975Spot Rates | | BCI | (Cape index) | BPI | (Panamax index) | BSI | (Supramax index) | | INDEX | | 6528 | -78 | 5368 | +125 | 3102 | +15 | | SPOT 4 TCE AVG | (USD) | 67581 | -834 | 43453 | +1039 | 32437 | +157 | | YESTERDAY | (USD) | 68145 | | 42414 | | 32280 | | | YEAR AGO | (USD) | 149467 | | 75183 | | 57445 |
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发表于 23-9-2008 01:36 AM
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发表于 23-9-2008 03:09 AM
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弹煮妹妹有没有在？
或者谁会看图表的，帮忙分析下?
MACD变positive了？
RSI又掉下了？
股价是不是要回升了?
今天的成交价RM2.99, 3.00, 3.02, 3.04, 3.06 ... 接近闭市去到 RM3.10...
很精彩一下。
Maybulk很少这么精彩的。 |
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发表于 23-9-2008 08:29 AM
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22 September 2008
Baltic Dry Index (BDI) -26 4949Spot Rates | | BCI | (Cape index) | BPI | (Panamax index) | BSI | (Supramax index) | | INDEX | | 6408 | -120 | 5396 | +28 | 3112 | +10 | | SPOT 4 TCE AVG | (USD) | 66052 | -1529 | 43697 | +244 | 32545 | +108 | | YESTERDAY | (USD) | 67581 | | 43453 | | 32437 | | | YEAR AGO | (USD) | 153006 | | 75967 | | 57561 |
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发表于 25-9-2008 08:41 AM
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24 September 2008
Baltic Dry Index (BDI) -293 4489Spot Rates | | BCI | (Cape index) | BPI | (Panamax index) | BSI | (Supramax index) | | INDEX | | 5581 | -497 | 4787 | -411 | 3067 | -36 | | SPOT 4 TCE AVG | (USD) | 56724 | -5381 | 38795 | -3324 | 32064 | -382 | | YESTERDAY | (USD) | 62105 | | 42119 | | 32446 | | | YEAR AGO | (USD) | 158403 | | 76721 | | 57727 |
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发表于 25-9-2008 08:42 AM
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发表于 25-9-2008 09:51 AM
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原帖由 小巴菲 于 25-9-2008 08:41 AM 发表 
24 September 2008
Baltic Dry Index (BDI) -293 4489Spot Rates BCI(Cape index) BPI(Panamax index) BSI(Supramax index)INDEX 5581-4974787-4113067-36SPOT 4 TCE AVG(USD) 56724-538138795-3324320 ...
请问这图表代表什么？ |
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发表于 25-9-2008 08:28 PM
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回复 1234# oliver_chia 的帖子
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是BDI指数，和MAYBULK息息相关的......因为它是散装货运...... |
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发表于 25-9-2008 09:10 PM
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发表于 26-9-2008 08:31 AM
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回复 1236# oliver_chia 的帖子
最高点是一万一千多啊........ |
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发表于 26-9-2008 08:32 AM
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25 September 2008
Baltic Dry Index (BDI) -326 4163 Spot Rates | | BCI | (Cape index) | BPI | (Panamax index) | BSI | (Supramax index) | | INDEX | | 5206 | -375 | 4157 | -630 | 3012 | -55 | | SPOT 4 TCE AVG | (USD) | 52616 | -4108 | 33680 | -5115 | 31494 | -570 | | YESTERDAY | (USD) | 56724 | | 38795 | | 32064 | | | YEAR AGO | (USD) | 163024 | | 75958 | | 58050 |
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发表于 26-9-2008 09:31 AM
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发表于 26-9-2008 09:38 AM
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发表于 26-9-2008 09:57 AM
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发表于 27-9-2008 06:44 PM
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