To screen ETFs by asset class, performance, yield and more, check out the
Author Following Options:
Follow this author
See their articles on your Seeking Alpha homepage and in your feed.
Real-time alerts on this author
Get their new articles emailed to you as they are published.
Daily digest on all my authors
Get all your favorite authors’ new articles emailed to you in one daily digest.
View as an RSS Feed
View Greg Womack's Comments
Setting The Record Straight On Eagle Bulk Shipping
Thanks, I'll get that fixed.
Aug 7, 2012. 07:57 AM
Link to Comment
Investors Have Good Reason To Avoid Eagle Shipping
Here's an update on the Q4 results:
-Dec. 31st cash position was still only $25m.
-Debt position remains unchanged.
-No progress was reported towards debt restructuring.
-Eagle is no longer listing its long-term charters with Korea Lines. All of Eagle's ships are now reported to be on short-term contracts.
There's not much to like about these results. Now that we know we can't expect much from Korea Lines we can expect the company to lose cash in the next quarter. It seems virtually certain at this point that they won't have the $36m in cash they need by April 30.
It's also worth noting what was said on the conference call, or rather what wasn't said. In Q3 management characterized their lending discussions as a collaborative effort that was moving in a positive direction. On today's call little was said to suggest these talks were going anywhere.
Mar 15, 2012. 05:14 PM
Link to Comment
Xignite quote data
© 2015 Seeking Alpha