BALT announced the commitment to buy two vessels this morning:
Baltic Trading announced that it has exercised its option to acquire two additional Ultramax newbuildings (6.17)
BALT announced that it has exercised its option to acquire two additional Ultramax newbuildings.
The two option vessels, which will have the same specifications and purchase price as the Ultramax newbuildings Baltic Trading previously agreed to acquire, are expected to be delivered to Baltic Trading during the second and third quarters of 2015.
John C. Wobensmith, President and Chief Financial Officer, commented, “Management’s strategic decision to exercise the option to acquire two additional Ultramax newbuildings is consistent with our ongoing efforts to take advantage of favorable asset prices. With four Ultramax newbuildings now scheduled to be delivered to Baltic Trading, combined with the recently completed acquisitions of two Capesize and two Handysize vessels, we are poised to more than double the size of our modern fleet on a tonnage basis. We intend to use a combination of cash on hand, future cash flow from operations as well as commercial bank debt to fully finance the acquisition of the four Ultramax newbuildings for the benefit of shareholders.”
I am very mixed on this move. The company seems to be spending money like drunken sailors (pun intended). If they are correct and rates trend higher, the stock price will catapult higher. However, if they are wrong…
BEAM is being acquired. Wow.
The liver trade takes a breather, following uneventful news from ICPT. Hot money gets fickle, fast.
DSX was upgraded at DB
Goldman upped its target on TWTR to $65.
Genzyme bought 28% of ALNY for $80. The stock closed at $66 on Friday. ALNY is a liver play. QED.
PAMT started with a strong buy at Needham?
SODA and LULU suck.
Opco named ANGI its top small cap pick for 2014. I couldn’t agree more.
Look, pal, there are plenty of moving parts this morning. Do your own homework and quit eating all of those bagels in the morning. The consumer appears to be dead and jobs are hard to come by. However, markets are at new highs and the well-to-do have never been better. They must be busy buying Picassos and Basqiuat paintings, totally uninterested in afflicting themselves, and loved ones, with type 2 diabetes via the explicit consumption of soda pop.
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SODA blows.
Post it note straws. Antibacterial cocaine use.
It takes an old drug user to pick up on that kind of detail. Or perhaps a 3M investor?
“Opco named ANGI its top small cap pick for 2014.” from where do you have that?
For the sake of generosity, might I suggest that you subscribe to a news source, like Briefing.com?
just thought you are an OPCO customer and this is some internal stuff.
Fly, I know you don’t play around in the muck, but I’ve been eyeing TPI since $0.80 as a combination Chinese lotto/pharma play. Super thin though but actually has earnings, fwiw.
OWW finally on the move