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OceanFreight Inc.NasdaqGM: OCNF

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  1. [verwijderd] 6 maart 2010 14:24
    quote:

    AliceC schreef:

    Vermogen genoeg om de koers op te trekken.
    BDI is gestegen.
    Daarbij lijkt me een overname zeker niet kansloos.

    mvg
    Alice

    12 januari
    Oceanfreight files $400 mln mixed securities shelf offering OCNF

  2. AliceC 6 maart 2010 21:16
    Snelle winst 15% op korte termijn mogelijk.
    1 Dollar op korte termijn.

    Succes,
    Allice

    OceanFreight: Why It's Now a Must Buy
    Reasons to own OCNF:

    1. OCNF had recent earnings of $0.11 per share excluding the one off charges due to the sale of an older Panamax vessel. Company's net income on an operating basis was well above analyst expectations of $0.00 per share.

    2. OCNF has secured gross revenues of $115 million until the end of 2010 with 92% fleet charter coverage for the remainder of 2009 and 72% for 2010.

    3. OCNF has a very low price to earnings ratio of 1.20 based on a average of 3 fiscal years.

    4. OCNF has a book value of $3.45 a share, and is trading at only 0.3x book at $1.07.

    5. OCNF is currently trading at only 0.7 x sales.

    I believe OCNF is now a must buy given the current stock price of $1.07 which doesn't reflect the $115 million revenue that is already secured for 2010. OCNF has excellent growth prospects that could very well generate massive upside in the stock price (i.e. 300% to 500% over the next 12 to 18 months). OCNF had a high of $5.50 a share at the start of 2009 and sold off part due to dilution along with the downturn in the drybulk shipping sector; the shares outstanding are now 142M from 90M. In my opinion within the dry bulk shipping sector, OCNF offers by far the greatest upside percentage reward. OCNF is easily 100% undervalued. Watch for OCNF to rally back above its 200 day moving average of $1.37 over the next 30 days.

    OCNF is positioned to take advantage of opportunities in the seaborne transportation markets for both drybulk and energy commodities. The drybulk business has clearly bottomed and now starting to pick up again. The chairman and managing director of Shipping Corp. of India S. Hajara said in an interview with The Economic Times that the worst for drybulk shipping industry is over.

    The share prices of most drybulk shipping companies follow the rise and fall in the Baltic Dry Index or BDI. This is an index covering drybulk shipping. Several of my broker friends that trade this index believe buying a shipping stock below asset value is a sure thing. Several years ago, many shipping stock traded 4 to 5 times asset value.

    I have had OCNF on my radar since 2007 when it peaked at $30 share. After 6 months of being on my buy watch list, I am buying. The downside risk is very low with excellent upside reward. I expect OCNF to be above $3 a share by this time next year. Analysts will likely upgrade OCNF soon.

    ---------------------------------------------------

    Interesting how buried deeply in filing near end is their comment that their ships do not
    follow the dry bulk index due to the manner in which contracts are set up. Says DBI
    affects spot market carriers much more than time based kind like OCNF.
    Implies much of the filing to go for new ship (s) and operations.
    We'll see. As much chance for 0.50 as there is for 1.50 given the length of time @$1.
  3. h980577. 7 maart 2010 11:26
    Bovenstaand stuk kwam mij al zo bekend voor.... Inmiddels hebben ze alweer tegenvallende jaarcijfers bekend gemaakt.
    Dus als je een update van dat stuk hebt mag je deze alsnog plaatsen :)

    quote:

    stampie3 schreef:

    OceanFreight: Why It's Now a Must Buy 2 comments
    by: Jeremy Richards November 30, 2009 | about: DRYS / FREE / GNK / OCNF / PRGN / TBSI
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    OceanFreight, Inc (OCNF) is an owner and operator of both drybulk and tanker vessels that operate worldwide. OCNF owns a fleet of 12 vessels, comprised of 8 drybulk vessels (2 Capesize, 6 Panamaxes) and 4 crude carrier tankers (1 Suezmax, 3 Aframaxes) with a combined dead weight tonnage of about 1.22 million tons.

    The company has agreed to acquire two Capesize dry bulk vessels and upon the delivery of these vessels to OCNF its fleet will consist of 14 vessels, comprised of 10 dry bulk carriers (4 Capesizes, 6 Panamaxes) and 4 tankers (1 Suezmax, 3 Aframaxes) with a combined deadweight tonnage of approximately 1.6 million tons.

    Reasons to own OCNF:

    1. OCNF had recent earnings of $0.11 per share excluding the one off charges due to the sale of an older panamax vessel. Company's net income on an operating basis was well above analyst expectations of $0.00 per share.

    2. OCNF has secured gross revenues of $115 million until the end of 2010 with 92% fleet charter coverage for the remainder of 2009 and 72% for 2010.

    3. OCNF has a very low price to earnings ratio of 1.20 based on a average of 3 fiscal years.

    4. OCNF has a book value of $3.45 a share, and is trading at only 0.3x book at $1.07.

    5. OCNF is currently trading at only 0.7 x sales.

    I believe OCNF is now a must buy given the current stock price of $1.07 which doesn't reflect the $115 million revenue that is already secured for 2010. OCNF has excellent growth prospects that could very well generate massive upside in the stock price (i.e. 300% to 500% over the next 12 to 18 months). OCNF had a high of $5.50 a share at the start of 2009 and sold off part due to dilution along with the downturn in the dry bulk shipping sector; the shares outstanding are now 142M from 90M. In my opinion within the dry bulk shipping sector, OCNF offers by far the greatest upside percentage reward. OCNF is easily 100% undervalued. Watch for OCNF to rally back above its 200 day moving average of $1.37 over the next 30 days.

    OCNF is positioned to take advantage of opportunities in the seaborne transportation markets for both drybulk and energy commodities. The Dry bulk business has clearly bottomed and now starting to pick up again. The chairman and managing director of Shipping Corp. of India S. Hajara said in an interview with The Economic Times that the worst for drybulk shipping industry is over.

    The share prices of most dry bulk shipping companies follow the rise and fall in the Baltic Dry Index or BDI. This is an index covering dry bulk shipping. Several of my broker friends that trade this index believe buying a shipping stock below asset value is a sure thing. Several years ago, many shipping stock traded 4 to 5 times asset value.

    I have had OCNF on my radar since 2007 when it peaked at $30 share. After 6 months of being on my buy watch list, I am buying. The downside risk is very low with excellent upside reward. I expect OCNF to be above $3 a share by this time next year. Analysts will likely upgrade OCNF soon.

    Disclosure: Buying OCNF.

    vr gr willem.
  4. AliceC 7 maart 2010 13:56
    nieuwe info (eind febr. 2010)

    OceanFreight, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2009. For the quarter, the company reported net loss of $135,891,000 or $0.98 per basic and diluted share on voyage revenue of $28,228,000 against net loss of $11,567,000 or $0.65 per basic and diluted share on voyage revenue of $36,269,000 for the same period a year ago. Operating loss of $132,695,000 compared to operating income of $11,112,000 a year ago. Net cash from operating activities of $6,314,000 compared to $12,970,000 a year ago. Adjusted EBITDA were $11,414,000 compared to $21,162,000 a year ago. For the full year, the company reported net loss of $179,397,000 or $2.28 per basic and diluted share on voyage revenue of $118,462,000 against net income of $27,722,000 or $1.94 per basic and diluted share on voyage revenue of $147,116,000 for the same period a year ago. Operating loss of $164,932,000 compared to operating income of $60,658,000 a year ago. Net cash from operating activities of $26,552,000 compared to $82,309,000 a year ago. Adjusted EBITDA were $55,502,000 compared to $96,699,000 a year ago. The company announced an impairment loss of $116,400,000 associated with the write down of the company's tanker vessels to their fair market values.

    en.wikipedia.org/wiki/Over-the-counte...

    OCNF is zeker geen OTC waardig.
  5. AliceC 8 maart 2010 23:06
    www.capitallink.com/press/topships030...

    TOP SHIPS INC. ANNOUNCES FOURTH QUARTER AND YEAR-END
    2009 RESULTS RELEASE DATE, CONFERENCE CALL AND WEBCAST
    Earnings Release: Thursday, March 11, 2010, After Market Closes in New York
    Conference Call and Webcast: Friday, March 12, 2010, at 11:00 a.m. EST
    ATHENS, GREECE – March 8, 2010 – TOP Ships Inc. (NasdaqGS: TOPS), an international
    provider of worldwide seaborne crude oil, petroleum products, and drybulk transportation
    services, announced today that it will release its results for the fourth quarter and year ended
    December 31, 2009 after the market closes in New York on Thursday, March 11, 2010.
    TOP Ships’ management team will host a conference call on Friday, March 12, 2010, at 11:00
    a.m. EST to discuss the Company’s financial results.
    Conference Call details:
    Participants should dial into the call 10 minutes before the scheduled time using the following
    numbers: 1(866) 819-7111 (from the US), 0(800) 953-0329 (from the UK), or (+44) (0) 1452 542
    301 (from outside the US). Please quote "TOP Ships".
    A replay of the conference call will be available until March 19, 2010. The United States replay
    number is 1(866) 247-4222; from the UK 0(800) 953-1533; the standard international replay
    number is (+44) (0) 1452 550 000 and the access code required for the replay is: 39394642#.
    Slides and Audio webcast:
    There will also be a simultaneous live webcast over the Internet, through the TOP Ships Inc.
    website (www.topships.org) under “Investor Relations”. Participants to the live webcast should
    register on the website approximately 10 minutes prior to the start of the webcast.
    About TOP Ships Inc.
    TOP Ships Inc., formerly known as TOP Tankers Inc., is an international provider of worldwide
    seaborne crude oil and petroleum products and drybulk transportation services. The Company
    operates a combined tanker and drybulk fleet as follows:
    �� A fleet of eight double-hull Handymax tankers and an average age of 2.9 years with a
    total carrying capacity of approximately 0.4 million dwt, of which 76% are sister ships.
    Two of the Company's Handymaxes are on time charter contracts with an average term of
    5 months with both of the time charters including profit sharing agreements above their
    base rates. Six of the Company’s Handymax tankers are fixed on a bareboat charter basis
    with an average term of 8.1 years.
    �� A fleet of five drybulk vessels with a total carrying capacity of approximately 0.3 million
    dwt and an average age of 8.9 years, of which 47% are sister ships. All of the Company's
    drybulk vessels have fixed rate employment contracts for an average period of 24 months.
    Forward-Looking Statements
    Matters discussed in this press release may constitute forward-looking statements. The Private
    Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking
    statements in order to encourage companies to provide prospective information about their
    business. Forward-looking statements include statements concerning plans, objectives, goals,
    strategies, future events or performance, and underlying assumptions and other statements, which
    are other than statements of historical facts.
    The Company desires to take advantage of the safe harbor provisions of the Private Securities
    Litigation Reform Act of 1995 and is including this cautionary statement in connection with this
    safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast,"
    "project," "plan," "potential," "may," "should," "expect" "pending" and similar expressions
    identify forward-looking statements. The forward-looking statements in this press release are
    based upon various assumptions, many of which are based, in turn, upon further assumptions,
    including without limitation, our management's examination of historical operating trends, data
    contained in our records and other data available from third parties. Although we believe that
    these assumptions were reasonable when made, because these assumptions are inherently subject
    to significant uncertainties and contingencies which are difficult or impossible to predict and are
    beyond our control, we cannot assure you that we will achieve or accomplish these expectations,
    beliefs or projections.
    In addition to these important factors, other important factors that, in our view, could cause actual
    results to differ materially from those discussed in the forward-looking statements include the
    strength of world economies and currencies, general market conditions, including fluctuations in
    charter rates and vessel values, failure of a seller to deliver one or more vessels or of a buyer to
    accept delivery of one or more vessels, inability to procure acquisition financing, default by one
    or more charterers of our ships, changes in the demand for crude oil and petroleum products,
    changes in demand for dry bulk shipping capacity, changes in our operating expenses, including
    bunker prices, drydocking and insurance costs, the market for our vessels, availability of
    financing and refinancing, changes in governmental rules and regulations or actions taken by
    regulatory authorities, potential liability from pending or future litigation, general domestic and
    international political conditions, potential disruption of shipping routes due to accidents or
    political events, vessels breakdowns and instances of off-hires and other factors. Please see our
    filings with the Securities and Exchange Commission for a more complete discussion of these and
    other risks and uncertainties.
    Contacts:
    Investor Relations / Media:
    Ramnique Grewal
    Vice President
    Capital Link, Inc.
    230 Park Avenue, Suite 1536
    New York, N.Y. 10169
    Tel.: (212) 661-7566
    Fax: (212) 661-7526
    E-Mail: topships@capitallink.com
    Company:
    Alexandros Tsirikos
    Chief Financial Officer
    TOP Ships Inc.
    1, Vassilissis Sofias Str. & Meg.
    Alexandrou Str.
    151 24, Maroussi, Greece
    Tel: +30 210 812 8180
    Email: atsirikos@topships.org
  6. AliceC 9 maart 2010 20:14
    Shippers Advance Ahead of Contract Talks

    By Michael McDonough

    About this article:
    Over the past year, shipping rates have bopped up and down like an ocean vessel facing a long wavelength of swells, and last week was no exception. Over the past week, the Baltic Exchange's Baltic Dry Index (BDI) has gained 15%, led by a 16% increase in capesize rates. Shippers took advantage of climbing rates last week with 36 fixtures. According to Dahlman Rose & Co., 10 panamax time charters of one year or more were booked during the first week of March, after a total of three in February. Recent gains are in stark contrast to what I predicted last week would be growing pressure on rates from elevated Chinese coal inventories and ongoing iron ore price negotiations. So what happened, and will it continue? Baltic Exchange Indices Source: Bloomberg and Capital Link First off,...
  7. AliceC 9 maart 2010 23:30
    Goed op weg naar de 1 dollar.

    Er zal iets moeten gebeuren OCNF te behoeden van OTC. Dit zal gebeuren als het aandeel over 6 maanden onder 1 dollar blijft steken. Een stijging is mogelijk door positief nieuws, een overname, stijgende BDI en of verhoogd toekomstvertrouwen.

    Mijn idee is dat OCNF er alles aan zal doen het bedrijf te geven wat het toekomt. Aandelen hebben ze nodig om te gebruiken als melkkoe in slechte tijden en of bij grote aankopen, er zal naar mijn idee zo doende alles aan gedaan worden het vertrouwen terug in het aandeel te brengen.

    Een Buy waardig,

    mvg
    Alice
  8. Demenkovets 11 maart 2010 22:14
    Koers schoot vlak voor sluiting opeens omhoog. Direct nabeurs het volgende bericht:

    OceanFreight Inc. Announces Date for 2010 Annual General Meeting of Shareholders and Proposed Reverse Stock Split

    Press Release Source: OceanFreight Inc. On Thursday March 11, 2010, 4:05 pm

    ATHENS, GREECE--(Marketwire - 03/11/10) - OceanFreight Inc. (NASDAQ:OCNF - News) (the "Company"), a global provider of marine transportation services, announced today that the Annual Meeting of Shareholders (the "Annual Meeting") will be held at the Company's offices located at 80 Kifissias Avenue, GR 151 25, Marousi, Athens, Greece on June 10, 2010 at 10:00 a.m., Athens time. Among other items, the Company intends to propose a 3:1 reverse stock split, which the Company believes will bring the Company well in compliance with the Nasdaq $1 minimum bid requirement.

    The Board of Directors has fixed the close of business on Monday, April 12, 2010 as the record date for the determination of the shareholders entitled to receive notice and to vote at the Annual Meeting or any adjournments or postponements thereof.

    Formal notice of the meeting and the Company's proxy statement will be sent to shareholders of the Company in due course.

    We encourage all shareholders to read the proxy materials when they are available.

    Een 3:1 R/S.. ik weet niet goed wat ik hiervan moet denken. Enerzijds voorkomt dit de afdaling naar de OTC, wat positief is (dit gevaar hing al een poosje boven de koers volgens mij), anderzijds zorgt een R/S toch ook vaak voor koersdruk. Ik durf zo niet te zeggen welk aspect op dit moment zwaarder weegt..
  9. AliceC 11 maart 2010 23:05
    BDI is stijgend, meer vertouwen in de markt, OCNF heeft een pos. balans, so what the problem zou je denken....

    Voorspelbare actie 3/1, echter ben ik bang dat OCNF van de gelegenheid gebruik maakt wat extra aandelen uit te geven om, "de balans te versterken". Verwatering ? (Aandeelhouders stemden eerder toe geen bezwaar te hebben met uitgifte van extra aandelen.)
    Jammer dat grote Griekse broer Dryships geen helpende hand toesteekt, OCNF laat dobberen en te gebruiken als melkkoe.

    Heb 1/3 vanavond op het drogen getrokken.

    Blijft een optie koers.

    mvg
    Alice

    www.thelion.com/bin/aio_msg.cgi?cmd=s...
  10. welshterrier 5 12 maart 2010 09:14
    volgens mij willen ze alle draadje bij de IEX laten verdwijnen of hun zoekfunktie werkt niet meer.
    Bij invoering: Ocean of letterlijk de kop van dit draadje kopieren komt het NIET te voorschijn.
  11. h980577. 12 maart 2010 17:03
    10% lager op het bericht over de splitsing???
    willen ze zorgen dat ie na splitsing precies op 1 dollar komt ofzo... :s
  12. [verwijderd] 12 maart 2010 17:11
    quote:

    h980577. schreef:

    10% lager op het bericht over de splitsing???
    willen ze zorgen dat ie na splitsing precies op 1 dollar komt ofzo... :s
    Is deze reactie niet een beetje overdreven van -10%?
  13. h980577. 12 maart 2010 17:11
    quote:

    domus muris schreef:

    [quote=h980577.]
    10% lager op het bericht over de splitsing???
    willen ze zorgen dat ie na splitsing precies op 1 dollar komt ofzo... :s
    [/quote]

    Is deze reactie niet een beetje overdreven van -10%?
    Blijkbaar niet, want -15% stond er ook al..... ik koop bij....
  14. Demenkovets 18 maart 2010 16:03
    Nieuws:

    OceanFreight Inc. Announces the Termination of the Standby Equity Distribution Agreement

    ATHENS, GREECE--(Marketwire - 03/18/10) - OceanFreight Inc. (NASDAQ:OCNF - News), a global provider of seaborne transportation services, announced today that it has terminated its Standby Equity Distribution Agreement (SEDA) with YA Global Master SPV Ltd., an affiliate of Yorkville Advisors LLC, pursuant to which the Company had the option to issue and sell shares worth up to $450 million. The program has been inactive since January 2010 and as of today, the Company raised approximately $99.7 million of gross proceeds and the total number of shares outstanding is 181,800,001.
  15. Demenkovets 18 maart 2010 16:07
    quote:

    welshterrier schreef:

    Je bent me net voor, via de zoekfunktie is Ocean fr echt niet te vinden
    Nee idd, ik gebruik de gewone zoekfunctie van mijn browser en skip zo snel door de verschillende pagina's met topics. Dan is ie vrij snel gevonden.
  16. [verwijderd] 18 maart 2010 16:08
    quote:

    welshterrier schreef:

    Je bent me net voor, via de zoekfunktie is Ocean fr echt niet te vinden
    Wat ook werkt is op voorpaginan drukken van iex.nl en dan de zoekfuncktie gebruiken die links staat.
    Suc6
  17. Demenkovets 18 maart 2010 19:01
    quote:

    real life schreef:

    [quote=welshterrier ]
    Je bent me net voor, via de zoekfunktie is Ocean fr echt niet te vinden
    [/quote]
    Wat ook werkt is op voorpaginan drukken van iex.nl en dan de zoekfuncktie gebruiken die links staat.
    Suc6
    Dat is een slimme inderdaad. Dat werkt ook!
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