Need any info you can find

[Deleted]

My FIL bought a few thousand shares of GLBS (globus maritime) in 2010

He bought it strictly because of the high yield

The share price has been steadily decreasing....yet looking over financials, i cant seem to figure out why

No glaring issues....they did issue 3 million more shares, but used the proceeds to increase fleet size

Anyone see something i dont? Based on current share price, it looks like something i may even take a flyer on

Appreciate the assist

[Deleted]

Other than the two releases, one for dividend, and other earnings, i didnt see anything out there

I do not have subscriptions to either site though

[Deleted]

You can look up info through Yahoo Finance like this:
Average Time Charter Equivalent per vessel per day rate ("TCE") of $14,912 with an average 6.2 vessels, versus an average TCE of $18,234 with an average 5.0 vessels operating during the same period in 2010. A calculation of the TCE is provided in a later section of this press release;
Fleet utilization was 95.9%; fleet utilization is further defined in a later section below.

It might suggest they've been cutting their prices (or have kept them steady despite increasing fuel costs) since utilization is high, but TCE is lower than it was a year ago.

If you bought it for dividends & company balance sheets are still sound (I did not look, so I don't know this), why would you want to sell now? Do you strategically want to take a loss due to other gains you have exercised?

When in 2010 did you buy? It was under 2 most of the year, but late in the year went up significantly.

[Deleted]

My FIL bought later in 2010

Avg price right at $ 6 per share

Balance sheet looked ok to me

Not looking to sell......i was wondering what you all thought....

I am thinking of taking a small position.....

Always try to do my due diligence...but this is a tough company to find much on

[The Virginian]

I do know that the whole Martime/ Tanker industry is suffering right now :

Here is from MSN Money - The negative sales & Income growth looks bad :

Sales* 37.89 Mil
Income* 2.64 Mil
Sales Growth* -46.40%
Income Growth* -123.50%
Net Profit Margin 6.97%
Debt/Equity Ratio 0.89
Beta NA
EPS 0.37
Forward P/E 9.05
P/E 4.75
Market Cap 38.17 Mil
Shares Outstanding 10.04 Mil


Also found this: Not sure what it means but doesn't sound good:
11/25/2010

Globus Maritime Ltd. Announces Domestication Into The Marshall Islands, Effectiveness Of U.S. Resale Registration Statement And Cancellation Of Listing On AIM

Globus Maritime Ltd. announced that the Company domesticated today from Jersey, Channel Islands, into the Republic of the Marshall Islands. As a result of the domestication, each of the Company's ordinary shares of the Jersey entity has become, by operation of law, a common share of the Marshall Islands entity. All outstanding share certificates of the Company issued while the Company was incorporated under Jersey law will no longer evidence ownership in the Company, as all ownership will now be evidenced in book entry form. Any shareholder that holds a share certificate of the Company is encouraged to return the share certificate to the Company. The Securities and Exchange Commission has declared effective the resale registration statement on Form F-1 that allows the selling shareholders named in the registration statement to publicly resell their registered shares as described in the registration statement. The Company's common shares will commence trading on the Nasdaq Global Market under the ticker GLBS. The Company's shares will be delisted from the Alternative Investment Market effective 7:00 a.m. (Greenwich Mean Time) on November 26, 2010. As a result of the delisting from AIM, all public trading activities in the Company's shares will occur on the Nasdaq Global Market under the new ISIN number MHY272652097 and CUSIP number Y27265 209.

10/22/2010

Globus Maritime Ltd. Announces Intended Cancellation Of Listing On AIM And Potential U.S. Listing

Globus Maritime Ltd. announced that it intends to apply for the cancellation of the listing of its shares on the Alternative Investment Market (AIM) on or around November 25, 2010. The Company will proceed with such cancellation only in circumstances where the Company's shares have been, or will shortly be, listed on an appropriate U.S. stock exchange following the Company's redomiciliation into the Marshall Islands. The Company previously announced that were it to achieve such a listing, it would seek to cancel the listing of its shares from AIM so as to avoid the unnecessary expense of maintaining a dual listing. Although no final decision has been made regarding a U.S. listing, the Company is sufficiently progressed in its preparations for such a listing to announce the earliest intended date for such cancellation.

9/9/2010

Globus Maritime Ltd. Declares Interim Cash Dividend

Globus Maritime Ltd. announced that the Directors declare an interim cash dividend of GBP0.073 per share (USD0.1129 per share), amounting to USD0.8 million in total, for the six months ended June 30, 2010. This interim dividend will be payable on or about September 24, 2010 to all shareholders on record on September 17, 2010.

[Deleted]

Thanks Virginian

Actually i had read all of that from 2010

I also looked at quarterlies from 2011....

Very few (if any) analysts follow this company...i think that is the reason so little information is forthcoming

Too little information can be a major issue....but at $ 3.xx per share, i dont see much downside unless they file bk, which based on the balance sheet i saw looks improbable

Ok...thanks all....made up my mind

Sending in my order now.....

[The Virginian]

I have Teekay Tankers,

The price tends to fluctuate wildly with their dividend pay outs.
Some investors hop in just to earn a quick buck and then it . I'm sure they do the same with GLBS.

[Driftr]

Nov 28, 2011 16:20:54 GMT -5 The Virginian said:

I have Teekay Tankers,

The price tends to flutuacte wildly with their dividend pay outs.
Some investors hop in just to earn a quick buck and then it . I'm sure they do the same with GLBS.

Same with NMM. I just ignore the price on that one and wait for my quarterly dividend to arrive a couple days late.

[Driftr]

Because I looked at it on my Google Finance page on Tuesday, NMM is still listed as a recent inquiry on the left. What the heck is happening with them today? Up 14%? Gdgyva did you sell the rest of your silver and buy a few shares???

[Deleted]

yes....silver is sold out (sold most at $ 41 per oz, sold last part at $ 33 oz) not bad after buying in at approx 19.xx per oz

and i decided not to pull trigger on this toad.....even though i think it could be ok

i owned NM in prior years....and remembered my disgust with water transport companies

These guys stock prices are so tied to contracts...and cycles in the market

I am adding water transport to air transport and auto companies as DO NOT buy lists

[Driftr]

Dec 2, 2011 13:42:11 GMT -5 @gdgyva said:

I am adding water transport to air transport and auto companies as DO NOT buy lists

Smart move. Thie NMM and WHX are the two I wish I hadn't bought when I started. Pretty sure if I sold them both today they'd net to about zero because I bought about the same position size. But the yields sure are tasty and the positions are so small (relatively speaking) I'm more likely to just let them run out and see what happens over time. Plus if I don't sell anything that's one less form to mess with this year. ;-)

Edit: I can say with certainty though that I won't be adding to either holding.

[The Virginian]

Yeah, me neither. The transports are fickle. This is one I'm selling to add to my cash position so hopefully if the big down turn comes I'll have to buy bargains. Nothing but Name Brand US Dividends for me.

[Driftr]

MON seems to be on sale today. I haven't done any research to see why. Not in a strong enough cash position yet to do anything about it today anyway.