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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: S. maltophilia who wrote (420559)	3/15/2012 6:12:49 AM
From: Jeff Jordan	Respond to of 436258

Thanks...they had or have 44boats, they brought two new vessels on last year and I think they just brought on another one, all the right size and supposedly more cost efficient. Each new charter adding about $35M revenue, but it used to be much more. They have been able to keep them busy and booked since they carry the right commodities...the irony is the commodities have been skyrocketing in value as the the shipping rates have plunged giving double windfalls to the owners of these commodities. They have one bad partner costing them money and are having to write off those revenues. With falling shipping rates and rising costs all the shippers have been getting hammered...it's no surprise they are being controlled and screwed. You would think they would be able to have more control over their rates...unlike the oil companies that simply increase the price at the pump to keep their margins high. These are valued assets in the global supply chain and I simply think they are scheming to take control of these assets themselves for pennies on the dollar as usual? Same ol' game of wealth and power acquiring more wealth and power. I thought they were about to be taken out last fall and still expect to see consolidation at the expense of shareholders....I always get screwed this way.<g>