Brokers Hargreave Hale gave the following Valuation for HMY

VALUATION
The nearest comparisons to this Group are Sondex, trading on a current year multiple of 14 and Weir Group which typically trades on multiples of 12 plus. We would argue that Hamworthys prospects are brighter than both these companies in view of the strong order book and the global positioning. Fully taxed earnings of 13p this year and 16.5 p for the 2005/6 end March, suggests a current year PE of 9.9x and a prospective PE of 7.8x. There is a prospective yield in excess of 4%. If trading on a similar PER to Sondex the shares would be valued at in excess of 180p. We would argue that a premium to Sondex is justifiable, in particular because of the potential ramp up to sales as a result of the new product pipeline now gaining client acceptance in what is in any event one of the fastest growing markets in the world.

"Shares" Article relating to Hamworthy (HMY) posted below for info.

With a following wind these shares should double over the next year or so.

Some catty folk in the City say the flotation last month by Collins Stewart
could have been handled better, i.e. at a higher price. It was certainly over
subscribed but the rating is half that of similar oil sector service companies
including Sondex.

Just published by Goldman Sachs..."On the back of our Global Energy Research team's increased oil price forecasts, we reiterate our bullish view on the tanker segment and UPGRADE our demand forecast for LNG carriers...We are raising our global LNG carrier (LNGC) forecast to 116 large LNGC's from 98 previously on the back of an increase in global liquefaction capacity"

We already know that a lot more LNG carriers will have to be built, due to Qatars recent activity, but it is good to see the Big analysts thinking the same thing, should hopefully bring a bit more attention to HMY in the coming weeks, especially with good news hopefully around the corner! IMHO

Excelent research Paul.

cheers GF.

We need some positive news flow in the coming weeks for this ship to act like a speed boat.

When can we expect news of any new contracts won or lost??

Am I missing something?

For HMY, -3% is a significant change.

What on earth is going on here.

MS

Whole market is down...all my stocks in red today...HMY just following, and on light volume. I view this as a great oppurtunity to pick up some more on the cheap! IMHO

This is similar to what happened back in mid january, when we fell from 2.02 to 1.82 in one day but quickly bounced up again. I see no reason for this drop?

Neither do I but buyers are coming back in. Had a slice of the action myself. Derd cheap for a play on what is the fastest growing sector (LNG)in the whole economy.

cheers GF.

whats all those sells about first thing this morning !!!

Havent a clue. Looking around for a source.

cheers GF.

is there any news on contracts being awarded?

There is news brewing, but no contracts awarded yet, and all signs are that HMY should be included in these awards, so todays move not due to that... I didnt pick up any news over the weekend either, so maybe some people confused that HMY is a play on oil and tankers, which is dropping along with other shipping stocks? Thats my guess anyway. I am encouraged by the fact the volume on the sells was quiet small, and that we have recovered somewhat. And as GF, i too added this morning, i dont think we will see these cheap prices again. IMHO

Almost recovered...back upto 2.25. As we thought, no reason for the fall!

Good stuff.

cheers GF.

paulgrip
wheres the best place to get wind of any news on this, i tend to use UK Wire as my news site but if theres any others / better ones out there then please let us know.

Cheers

Accord...I work in shipping so have access to all the trade press...lloyds list daily, and tradewinds on fridays, as well as daily reports from various sources...there is often good stuff in these as they have dedicated LNG pages, and i usually copy onto this board. All i know for sure is that the second Qatari tender process is underway and once the owners of the new ships have been assigned (hopefully by end of this month) then we will get the news on what systems will be used. I posted a schedule a couple of weeks ago which should provide a timeframe for news out of Qatar, which relate very closely to possible news from HMY.

Looks like we could be in for some good early news then paul, fingers crossed.

cheers GF.

paulgrip

i thank you.

Nice to see this moving up.

cheers Gf.

Another one with a late run up.

cheers GF.