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Cosco appoint Deputy Managing Director of China Ocean Shipping Tally Company to MD post:
http://info.sgx.com/webcorannc.nsf/AnnouncementToday/E79040F9BC5579CF4825793E0025B89E?opendocument
My guess is it most likely going sideways.
timewatch ( Date: 04-Nov-2011 12:11) Posted:
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will cosco go back to 0.80 cents ?????????
Joining its brother YZJ prize. :)
hope this will help to support the price to stay above $1!
samsonite ( Date: 03-Nov-2011 17:18) Posted:
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COSCO CORPORATION SECURES CONTRACT VALUED OVER USD68 MILLION FOR TWO (2) DRY BULK CARRIERS:
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_9B7370AFC95B3A784825793D0028D06B/$file/Secures_Contract_Valued_Over_USD68M_For_Two_Bulks_Carriers.pdf?openelement
ruanlai ( Date: 03-Nov-2011 11:01) Posted:
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Cosco - Too Early to Turn Positive - SELL ($1.02) TP $0.82 by Citi, UNDERPERFORM ($1.02) TP $0.60 by CS, HOLD ($1.02) TP $1.10 by DB, REDUCE ($1.02) TP $0.69 by Nomura, SELL ($0.99) TP $0.99 by UBS
seems factored in ..... time for forward-looking to it's potential .....
probably just knee-jerk ..... then probably will catch shortists by surprise ..... ?
At least they are still making profit. NOL suffered over 91million loss in its FI report posted on Monday and today NOL shares price shoot up 4cts? NOL also stated that their business incurred losses in line with an industry-wide trend.
On the bright side Cosco may be getting 2 big contract as below. So punters may be eyeing it:
From Credit Suisse
02 November 2011
Which yards will benefit from Petrobras tender for six pipelaying vessels?
SapuraCrest announced that it has been awarded a contract from Petrobras to charter three pipe laying support vessels (PLSVs) for USD1.4 bn, following a tender to purchase six PLSVs.
We believe that SapuraCrest is likely to build two of the units at Cosco Corp’s Nantong yard. On 23 Sep, SapuraCrest issued a Letter of Award to Cosco for the construction of two pipelay cum heavylift offshore construction vessels for US$227 mn. According to Upstream, SapuraCrest received bids from a number of Brazilian yards for the third unit, with Eisa as the frontrunner.
SapuraCrest awarded contract for three PLSVs
SapuraCrest announced that it has been awarded a contract from Petrobras to charter and operate three pipe laying support vessels (PLSV) at a total award value of approximately US$1.4 bn. One of the PLSVs will be constructed in Brazil, whereas the other two will be constructed outside Brazil. This follows a tender by Petrobras to purchase six PLSVs in different sizes, as part of its plan to increase its OSV fleet to 491 vessels in 2015, from 504 in 2020.
Two of three vessels likely to be built at Cosco yard
We believe that SapuraCrest is likely to build two of the international units at Cosco Corp’s Nantong shipyard. On 23 September, SapuraCrest issued a letter of award (LOA) to Cosco for the construction of two pipelay cum heavylift offshore construction vessels at a combined price of US$227 mn. The first, hull number 448, is set to cost US$110.25 mn with delivery between 3Q13 and 4Q13. Hull number 449 will cost US$116.75 mn and is expected to be delivered either at the end of 2013 or the beginning of 2014.
02 November 2011
Which yards will benefit from Petrobras tender for six pipelaying vessels?
SapuraCrest announced that it has been awarded a contract from Petrobras to charter three pipe laying support vessels (PLSVs) for USD1.4 bn, following a tender to purchase six PLSVs.
We believe that SapuraCrest is likely to build two of the units at Cosco Corp’s Nantong yard. On 23 Sep, SapuraCrest issued a Letter of Award to Cosco for the construction of two pipelay cum heavylift offshore construction vessels for US$227 mn. According to Upstream, SapuraCrest received bids from a number of Brazilian yards for the third unit, with Eisa as the frontrunner.
SapuraCrest awarded contract for three PLSVs
SapuraCrest announced that it has been awarded a contract from Petrobras to charter and operate three pipe laying support vessels (PLSV) at a total award value of approximately US$1.4 bn. One of the PLSVs will be constructed in Brazil, whereas the other two will be constructed outside Brazil. This follows a tender by Petrobras to purchase six PLSVs in different sizes, as part of its plan to increase its OSV fleet to 491 vessels in 2015, from 504 in 2020.
Two of three vessels likely to be built at Cosco yard
We believe that SapuraCrest is likely to build two of the international units at Cosco Corp’s Nantong shipyard. On 23 September, SapuraCrest issued a letter of award (LOA) to Cosco for the construction of two pipelay cum heavylift offshore construction vessels at a combined price of US$227 mn. The first, hull number 448, is set to cost US$110.25 mn with delivery between 3Q13 and 4Q13. Hull number 449 will cost US$116.75 mn and is expected to be delivered either at the end of 2013 or the beginning of 2014.
Gross profit of 83.8m and net profit of 50m is quite good for a shipping company.1ST 9 mth NET Profit OF 159M.Cash on hand of $1.35b .i think they may maintain the same dividend of 3-4 cents.
Revenue still higher than last year corresponding quarter
stockwinner ( Date: 02-Nov-2011 20:01) Posted:
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Expected result.... Do you think it will bring the stock much lower???
- Higher shipyard revenue lifted Group turnover by 1.8% to $969.8m.
- Turnover from shipyard operations increased 3.9% to $954.7m on higher contribution from marine engineering projects.
- Turnover from dry bulk shipping and other businesses dropped 55.3% to $15.2m due to lower charter-hire rates.
- Net profit attributable to equity holders of the Company slipped 41.6% to $32.2m on lower profit contributions from dry bulk shipping and shipyard operations.
- The Group will continue to leverage on the strength of its diversified business to remain competitive and fortify its strategic market position.
Have they released results yet, expected to be bad and it has been factored in I guess.
rumours from the FMs.......they start selling when they hit $1.10......till now they still sell.........
sell sell sell.......
Result reporting today evening.
From the insiders point of view.......does not look good.....no aggressive buying........
Look at Yangzijiang.........very strong support and keep pushing up the price.........when touching 92cents.....so.....result must be robusting reporting next wednesday......
Beware of this counter if you wanna to buy......very risky......for this counter from now.....BUT tmr maybe times to buy when ppls panic sell.......
Reverse psychology.....tells.......sell at rumours.......buy at news......
Ship has hit some rocks, but over corrected maybe.
With shipping rates improving they should come out of the woods
Sold 20lots @ 1.09 this morning..earning report is bad and outlook for the coming year is not good either.
timewatch ( Date: 28-Oct-2011 09:35) Posted:
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cosco moving slowly.