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CH Offshore
05-05-2014, 10:13 PM.
Post: #21
RE: CH Offshore
not sure what CH Offshore is doing now... just lying low and waiting for market to pick up..
=========== Signature ===========
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 

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12-05-2014, 10:17 PM.
Post: #22
RE: CH Offshore
I sold it 2 years ago after seeing the receivables ballooned out of control and expect write off. So better jump off the ship. I waited 1 year plus finally and eventually they did write off the bad receivables. I thought i was smart.

But to my surprise the stock price hold up well and actually it is higher than my selling price.

So the moral of the story is knowing the accounting book doesn't help you to predict the share price.

Now i am thinking of eating back the 回头草 Big Grin

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13-05-2014, 11:30 AM.
Post: #23
RE: CH Offshore
(12-05-2014, 10:17 PM)hongonn Wrote: I sold it 2 years ago after seeing the receivables ballooned out of control and expect write off. So better jump off the ship. I waited 1 year plus finally and eventually they did write off the bad receivables. I thought i was smart.

But to my surprise the stock price hold up well and actually it is higher than my selling price.

So the moral of the story is knowing the accounting book doesn't help you to predict the share price.

Now i am thinking of eating back the 回头草 Big Grin
Yes! If not people like me have zero chance in the markets. Seldom go beyond the ABC of ARs. And there are just too many variables of unknown.
Like i just sold Singtel at $3.62 and think i can buy it back later (i thought i can trade at price lower than $3.62). So far it never happens.
=========== Signature ===========
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.

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13-05-2014, 01:29 PM.
Post: #24
RE: CH Offshore
ai yo, T.
One thing can not complaint is "make money".
One of my habit is after selling, remove from watchlist and never look at it again (until it's 52 weeks low again).

Be happy always.

Heart Love Compassion
=========== Signature ===========
Live with Passion, Lead with Compassion
2013-06-16

http://web.singnet.com.sg/~chialc88
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13-05-2014, 02:38 PM.
Post: #25
RE: CH Offshore
(12-05-2014, 10:17 PM)hongonn Wrote: I sold it 2 years ago after seeing the receivables ballooned out of control and expect write off. So better jump off the ship. I waited 1 year plus finally and eventually they did write off the bad receivables. I thought i was smart.

But to my surprise the stock price hold up well and actually it is higher than my selling price.

So the moral of the story is knowing the accounting book doesn't help you to predict the share price.

Now i am thinking of eating back the 回头草 Big Grin

haha! I have been eyeing this stock for a long time.
Same like you, I was happy when they announced the massive write off.
But, as we all know, the price didn't move much.....much to my disappointment.

However, the bright side is in the event that the bad debt is recoverable, there will be some upside, won't it?

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13-05-2014, 02:59 PM.
Post: #26
RE: CH Offshore
Any buddies here have any data on their fleet charter profile ? Not very certain if it is largely spot charters or are most of the fleet backed by charters and if so, are they at over-priced pre crisis rates ?
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Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.

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13-05-2014, 03:02 PM.
Post: #27
RE: CH Offshore
(13-05-2014, 01:29 PM)chialc Wrote: ai yo, T.
One thing can not complaint is "make money".
One of my habit is after selling, remove from watchlist and never look at it again (until it's 52 weeks low again).

Be happy always.

Heart Love Compassion
Sorry, i let you misunderstood.
i mean i KK; i thought i can do trading at $3.62 and below. No complain one after so many years i know i can not complain even when i lost 5 figures for being KK with some S CHIPS. But it's a lesson that it's very hard to forget (i mean not to repeat the same mistake if possible).
i KK ma. How can blame anyone or anything? My money, my business, my responsibility, my own foolishness.
Shalom.
=========== Signature ===========
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.

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13-05-2014, 10:08 PM.
Post: #28
RE: CH Offshore
(13-05-2014, 02:59 PM)Nick Wrote: Any buddies here have any data on their fleet charter profile ? Not very certain if it is largely spot charters or are most of the fleet backed by charters and if so, are they at over-priced pre crisis rates ?

In the annual report for FY 13 (june 2013), the company said "the OSV market will continue to remain challenging and highly competitive for ship owners"

However in the 3rd Quarter FY 14 announcement, the company said
" The OSV market remains stable and Group fleet is enjoying healthy utilization."

it seems that the management is feeling more confident now.
In addition, there is an insider purchase of shares by non-executive director after the 3rd quarter announcement

not vested

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13-05-2014, 10:28 PM.
Post: #29
RE: CH Offshore
(13-05-2014, 02:59 PM)Nick Wrote: Any buddies here have any data on their fleet charter profile ? Not very certain if it is largely spot charters or are most of the fleet backed by charters and if so, are they at over-priced pre crisis rates ?
IIRC they only have 1 spot charter boat and 1 docking for servicing. the rest are on long term charters. As for recovering the receivables I think you should kiss it goodbye. Venezuela is a bankrupt state and getting worse by the day. Try suing a bankrupt and you get a moral victory but still unable to recover your debts. worse is if you end up paying all the legal bills.

The way to see CHO is treat it as a FD at 5% dividend yield and wait for the charter rates cycle to go up for a rerating and then you can unload the shares. Currently the charter rates are firming but can also fall off anytime if oil price collapse....if Iran has a nuclear deal and flood the mkt with their oil.

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13-05-2014, 10:37 PM.
Post: #30
RE: CH Offshore
(13-05-2014, 10:28 PM)Jacmar Wrote:
(13-05-2014, 02:59 PM)Nick Wrote: Any buddies here have any data on their fleet charter profile ? Not very certain if it is largely spot charters or are most of the fleet backed by charters and if so, are they at over-priced pre crisis rates ?
IIRC they only have 1 spot charter boat and 1 docking for servicing. the rest are on long term charters. As for recovering the receivables I think you should kiss it goodbye. Venezuela is a bankrupt state and getting worse by the day. Try suing a bankrupt and you get a moral victory but still unable to recover your debts. worse is if you end up paying all the legal bills.

The way to see CHO is treat it as a FD at 5% dividend yield and wait for the charter rates cycle to go up for a rerating and then you can unload the shares. Currently the charter rates are firming but can also fall off anytime if oil price collapse....if Iran has a nuclear deal and flood the mkt with their oil.

I think the money has been secured by London's court, so maybe still have chance?

from Sep2013 report:

the Company had channeled all effort which culminated in the commencement of legal proceedings in London against PDV Marina S.A. and Astilleros De Venezuela C.A. for a claim relating to outstanding charterhire amounting to approximately US$56 million (which amount includes interest claimed). The Company has arrested vessels belonging to PDV Marina as security for its claim. PDV Marina has made payment of US$70 million into court as security for the Company’s claim including interest and costs. Accordingly, the Company has released PDV Marina’s vessels. This was recently announced by the Company on 11 October 2013. In the event that the debts are subsequently recovered, adjustments will be made to the allowance for doubtful trade receivables accordingly.

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