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  • After Clearing A Major Hurdle, Greece's Outlook Brightens [View article]
    True -- releasing the bulk of information to none! Or well, "It's all Greek to me!!" Seems like the perfect saying here ;)

    I was planning to hold NBG for 5 years, anyways, trading some for extra. So not entirely concerned. Unless it was going for dead. But I think it, along with much of Europe, is and will be on long-term life support.

    I do have F. It was stuck in a rut for 7 months.
    May 20 05:41 PM | Likes Like |Link to Comment
  • After Clearing A Major Hurdle, Greece's Outlook Brightens [View article]
    What is unknown right now is when the rights are effective, and when they expire. I would expect them to have a long expiry date but what would be interesting is to know when the exercise date is. It's not necessarily bad as the people with full control over rights are existing shareholders.

    Also, dilution is dependent on how many shareholders exercise their rights... that is my understanding.

    Be glad to hear differently as I am all theoretical here and have never exercised rights.
    May 20 05:00 PM | Likes Like |Link to Comment
  • After Clearing A Major Hurdle, Greece's Outlook Brightens [View article]
    Actually, this article on Reuters on NBG is very confusing.
    http://reut.rs/17Vjew4

    If you read the headlines, it says RIGHTS. Then doesn't that mean right to buy more shares at $5.50? (pricing after reverse split?) ok, that doesn't necessarily mean you get that kind of price on the market, right? You'd have to essentially be buying the stock now on the Athens for more than that, and then you'd get the rights.

    This means the price as of now will not fall to 55 cents?!?

    The body of the news is further confusing as it doesn't give a date for the 1 for 10. Anyone have a Greek version of the news that does a better job than Reuters?? Thanks =)
    May 20 04:32 PM | Likes Like |Link to Comment
  • After Clearing A Major Hurdle, Greece's Outlook Brightens [View article]
    Looks like we're headed for 55 cents?
    May 20 04:27 PM | 1 Like Like |Link to Comment
  • Shipping: This Rally Doesn't Add Up [View article]
    "Subsequent to December 31, 2010, on January 25, 2011 Korea Line Corporation ("KLC"), one of our charterers, filed for protective receivership in Seoul, Korea. On February 15th, the Korean Courts approved this request. The Company and KLC have agreed that all of Company's charters to KLC remain intact until the Court allows KLC to resume hire payments, although no charter hire payments are currently being received. The Company has further come to an agreement with KLC regarding arrangements to take over the employment of the majority of the affected chartered vessels for this interim period. Earnings during this interim period would be used to offset the charter hire otherwise due from KLC. During February, the Company re-chartered out all affected vessels on the spot market, which is currently averaging around $15,000 per day. The Company will continue to trade these vessels until our business arrangements with KLC have been resolved. As of March 4, 2011, Eagle Bulk is owed approximately $8.3 million of charter hire all related to 2011 activities with KLC, of which approximately $2.5 million was due and owing prior to KLC filing for rehabilitation. With regard to the "Nighthawk," which was scheduled to be delivered to KLC in February 2011, the Company and KLC have agreed in principle, subject to Court approval, to defer the commencement of this charter to allow Eagle to employ the vessel for its own account for the time being. During January and February of 2011, the Company took delivery of two newbuilding vessels, the Thrush and Nighthawk, which immediately entered into short term time charters."
    May 20 01:26 PM | Likes Like |Link to Comment
  • Shipping: This Rally Doesn't Add Up [View article]
    You may be right that next quarter may be tough to beat. The pocket of time between this quarter and next quarter, the stock still has room to run up due to macro events. Then, I may just have to buy back in after the dust settles nearer to the quarterly.

    If you want alpha and less risk on a turnaround shipper, I find this one better than FREE or EXM -- and DRYS for the time being. Though I am starting to think they both have another neat component: stock in another company. DRYS in Ocean Rig, and now EGLE in KLC. I'm optimistic with the extras both come with.
    May 20 01:14 PM | Likes Like |Link to Comment
  • Shipping: This Rally Doesn't Add Up [View article]
    And just saying: none of the shippers are genuinely correlating with BDI right now. Neither are they correlating with fundamentals. They are incredibly correlated with the perceived economic recovery in US and Japan, and upgrades in Greece. If you don't want to go long any shipping stock, don't short any. You can get mowed by the macro events.

    Some shippers are more likely to run into bankruptcy. Eagle is if you just look at the balance sheet. But if you examine the terms and the parties involved, then things get really interesting.
    May 20 01:02 PM | Likes Like |Link to Comment
  • Shipping: This Rally Doesn't Add Up [View article]
    I have looked into many shipping stocks. When there is war, drought, recession, political instability or piracy, dryships are affected. The world will never be perfect but it is much better this year than the last 6 years. There is so far also no other stock with a really strange high ownership by Goldman Sachs. Or maybe there is, and I don't know of it. I admit to not liking them but I happen to have to grudgingly admit their track record for winning is incredible. All other factors considered, this GS thing weighed in, and I am in for awhile. Like I said, I have a longer term chunk, and I trend trade some of the stock for income.
    May 20 12:52 PM | Likes Like |Link to Comment
  • Shipping: This Rally Doesn't Add Up [View article]
    Also of note, KLC deal includes more cash coming in all the way through to 2021 - was expected to be $5.5 m but now $2.1 m. Instead of more cash, the courts made it more stock. Eagle is now a 5% owner of the KLC stock. And the value of KLC stock is currently very high.

    As per SEC filing disclosure:
    On May 9th of 2013, the shares in KLC stock certificates were issued and are now being secured at the Korean Securities Depository until November 11, 2013, the date on which we will be able to take possession of the share certificates. As a result of the shares trading at an amount in excess of what we had recorded our note receivable at in January 2013, we expect to recorded an incremental gain in the second quarter of 2013. As of May 9th KLC share price was approximately $53.50 per share.
    May 20 12:45 PM | Likes Like |Link to Comment
  • Shipping: This Rally Doesn't Add Up [View article]
    I know they rechartered out. They rechartered out on very short timeframes as they waited for the Korean courts to settle things. Now that that is taken care of, they can change their strategy to long-term charter. I also know the rates are still low. I am looking at the commodity sector. China is once again interested in iron ore. Coal export/ consumption looking up. Most resources are shipped by water. Conclusion: all ships are moving up. High beta Eagle will move up the fastest. I am not saying the crap won't hit the fan. I am saying in the short-term, no crap will hit the fan so I'm going to stay in for the gain.

    http://bit.ly/10I9YmF
    May 20 12:25 PM | Likes Like |Link to Comment
  • Kodak Doesn't Think Much Of UniBoss, So Why Should You? [View article]
    Price dropping from people locking in gains/ freaking out is more likely. News from company? Nah. Lawsuit? Well, the lawyer's can wait like sharks on the side but doubt they're ready to bite.
    May 20 03:19 AM | 2 Likes Like |Link to Comment
  • Kodak Doesn't Think Much Of UniBoss, So Why Should You? [View article]
    You can't sue a company unless it's not doing what it says it's doing. The factory is being setup. If it fails to produce, now's when the trouble begins.

    Why on earth would it already be announcing failure at this point is just too weird. If anything, ramp up should take at least 3 to 4 months, no?
    May 20 03:18 AM | 1 Like Like |Link to Comment
  • Kodak Doesn't Think Much Of UniBoss, So Why Should You? [View article]
    Ugh. You're using a PAYMENT agreement as an argument. "Material" agreement, I take it, equals monetary impact. Well, there's no current monetary impact. Zzzzz

    http://1.usa.gov/18WWpqR
    May 20 12:36 AM | 1 Like Like |Link to Comment
  • Uni-Pixel - A Stock Ready For New Highs [View article]
    What's so special about June?
    May 19 07:54 PM | Likes Like |Link to Comment
  • Shipping: This Rally Doesn't Add Up [View article]
    Revenue is monies made. I don`t see why you are against the KLC revenue. Where would you record it?

    Also, I am glad the KLC thing is wrapped up sooner than expected. KLC contract tied up 13 ships. This frees up the company to write new contracts.
    May 19 07:39 PM | Likes Like |Link to Comment
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