Contract book - Ves el Sister Ships* Com** Charterer Notes...

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Unformatted text preview: Ves el Sister Ships* Com** Charterer Notes Panamax Ves els CORONIS 74,381 C $24,000 $0.32 5.00% 6-Apr-10 1 of hire for drydocking ERATO 74,444 C $20,500 $0.28 5.00% 4-Mar-10 NAIAS 73,546 B $19,750 $0.27 5.00% 24-Sep-10 CLIO 73,691 B $25,000 $0.34 5.00% 8-May-10 CALIPSO 73,691 B $23,000 $0.31 5.00% 4-Sep-10 PROTEFS 73,630 B $59,000 $0.80 5.00% 18-Sep-08 THETIS 73,583 B $13,750 $0.19 5.00% 11-Feb-11 march 2012 This contract was just signed. Previously 23,000/day, signed in 3/10 DIONE 75,172 A $20,500 $0.27 5.00% 26-Sep-10 DANAE 75,106 A $12,000 $0.16 5.00% 7-Apr-09 2 OCEANIS 75,211 A $19,750 $0.26 5.00% 17-Sep-10 TRITON 75,336 A $19,500 $0.26 5.00% 10-Oct-09 17-Nov-10 3 ALCYON 75,247 A $34,500 $0.46 4.75% 21-Feb-08 NIREFS 75,311 A $21,000 $0.28 5.00% 12-Feb-10 MELITE 76,436 $16,500 $0.22 5.00% 11-Jan-11 Jan 2013 Contract was just signed, previously 24,250 singed 1/10 Post-Panamax Ves els EAST SUNRISE 88 93,193 $20,250 $0.22 5.00% 30-Nov-10 6 Capesize Ves els NORFOLK 164,218 $74,750 $0.46 3.75% Corus UK Limited 12-Feb-08 ALIKI 180,235 $26,500 $0.15 5.00% 1-May-09 2015 SALT LAKE CITY 171,810 71.57 $55,800 $0.32 5.00% 28-Sep-07 7 SIDERIS GS 174,186 D $30,500 $0.18 5.00% nov 10 feb 2013 SEMIRIO 174,261 D $31,000 $0.18 5.00% 15-Jun-09 8 BOSTON 177,828 D $52,000 $0.29 5.00% 13-Nov-07 9 HOUSTON 177,729 D $55,000 $0.31 4.75% 3-Nov-09 10 NEW YORK 177,773 D $48,000 $0.27 3.75% 3-Mar-10 Ship U ptim e 98% historical y this is 98.5% Daily Vessel Operating Costs 5800 crewing costs, interest, repairs, insurance Key: Ships 23 = revenue under contract Ship Lifetim e 30 Based on ships being scrapped today = estim ated scap value Depreciation T im e 25 ir elevant, they don't pay incom e taxes Scrap value $300.00 per lightweight ton Cur ent # NAM E? Panam ax T ons 25,000 for scap calculations Share Price $9.73 Post-pana T ons 30,000 guess, website did not have actual num bers Exp. Return # NAM E? $0.053 Capesize T ons 58,000 NOT E: 12,079,799.10 Future DW T price 0.16 (3,344,333.73) Voyage Expenses/Revenues 5.0% this is essential y the com m ission paid to brokers. Historical y closer to 4.5% $(366,000) $/DW T G rowth 2.0% (1,207,979.91) Expense G rowth 2.0% 7,161,485.46 Discount rate 10.2% SG & A as % Revenues 9.9% last year's rate Avg. drydock costs/ship/year $366,000 assum ing drydock repairs every three years. Shares Outstanding 91,950,000 DW T price 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Ship N am e Class Yr. B lt dw t 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 204 0 CORONIS Panam ax 2006 74,381 8,155,560 8,155,560 4,517,534 4,607,885 4,700,043 $4,794,043 $4,889,924 $4,987,723 $5,087,477 $5,189,227 $5,293,011 $5,398,872 $5,506,849 $5,616,986 $5,729,326 $5,843,912 $5,960,790 $6,080,006 $6,201,606 $6,325,639 $6,452,151 $6,581,194 $6,712,818 $6,847,075 $6,984,016 $12,550,636 $0 $0 $0 $0 ERAT O Panam ax 2004 74,444 6,966,208 4,432,706...
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This note was uploaded on 02/05/2012 for the course FINANCE 101 taught by Professor George during the Spring '11 term at University of Phoenix.

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Contract book - Ves el Sister Ships* Com** Charterer Notes...

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