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Industry Discussions / Shipping News
|Subject: Re: Shipping Websites??||Date: 8/30/2011 9:46 AM|
|Author: MorrieSeaCreatur||Number: 2325 of 3371|
Thank you very much. I'll take a look at this tonight. Based on sales data there appears to be no real difference in price between at 38,000 and a 75,000 tanker.
Per your link I'm conervatively using 10 year rates as discount for bankruptyc in a liquidation means even though the ships are 7 years old. Product (2)and Panamax (6) are basically selling at the same rate of $17M. This is slightly less than what Danamos paid ONE for the 80% of their JV for their two ships in production and 2 delivery slots. I had valued those slots as being worth $0 and this gives an estimate of $19M and the ships in the deal were less than 5 years old which makes the valation even less.
That basically confirms for me that in a chapter 7 scenario creditors would not get paid in full and the stock is worth $0.
Can you explain what a evergreen pool is?
My thoughts on trying to figure out cash flows are this.
Spot - means no current agreeement so assume $0 but have to pay some level of fixed costs but not full