A few nips of the brown nectar over the weekend cyners.

Im off for some now.

have a good one.

cheers GF.

Interesting article in yesterday's Times:

Rush for ships feeds hope of revival in commodities
'A surge in shipping rates for bulk carriers, used to transport cargoes of wheat, coal and iron ore, has created a frisson of excitement about signs of recovery in trade with China.

'The Baltic Dry Index, a measure of freight rates for dry bulk vessels, gained 10 per cent in value yesterday after a 50 per cent increase last week as mining companies scrambled to hire ships to deliver iron ore to China.'

Copy and paste below for full article:

http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article5697766.ece

OVER 540P

OVER 600p NOW

CKN Clarkson, just opened a new position here, Dry Baltic Index been hitting highs in recent days chart is georgeous and fundies are superb, a fantastic combination........

"

Fundies........

Clarkson PLC

FORECASTS
2009 2010
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
05-06-09 BUY 21.46 77.20 42.00 24.94 89.74 42.00

Daniel Stewart
03-06-09 BUY 28.80 104.00 42.00 30.80 111.50 42.00

Charles Stanley Securities
15-04-09 BUY 21.70 78.95 42.00 24.20 87.89 42.00

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 21.57 78.04 42.00 24.59 88.85 42.00
1 Month Change -0.01 -0.91 0.00 -0.34 -1.12 0.00
3 Month Change -3.71 -17.73 -4.00 -3.25 -14.00 -3.00


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS 83.25% -61.18% 13.85%
DPS 10.53% 0.00% 0.00%

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA 47.90m 31.33m 33.98m
EBIT 41.10m m m
Dividend Yield 6.77% 6.77% 6.77%
Dividend Cover 4.79x 1.86x 2.12x
PER 3.08x 7.94x 6.98x
PEG 0.04f -0.13f 0.50f
Net Asset Value PS 368.25p 579.37p 625.40p

trading on a forward P/E of just under 7 to 2010...............WAY UNDERVALUED.

Broker Snap

CKN Clarkson....

Date Broker name New Price Old price target New price target Broker change

01-Jun-09 Daniel Stewart Buy 602.00p 700.00p - Reiteration
14-May-09 Panmure Gordon Buy 567.00p 725.00p - Reiteration

Bullish comment from Pro TAer Zak Mir....

Zak Mir



Reged: 28/06/07
Posts: 859
Re: CLARKSON CKN
#447910 - 09/06/09 03:08 PM Edit Reply Quote



There is an October resistance line projection suggesting a 750p target for CKN on a one month view, even after all the gains, especially while the 10 day moving average now at 608p provides support.

Lovely chart on CKN Clarkson when you have time to analyse it. First a wedge in a uptrend (could even be a flag if I had got my pole in the right position) and then a breakout into a uptrend channel.

Sp just of the floor aswell of the channel and no clear resistance in site...what a beauty. 700p first thing and the we should go on for more.

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SOLD OUT.SORRY.

over 770p.

Goes ex-divi 16th sept '09. Likely to see a little bit of a build up prior to that, imo.

over 830p

over 840p

looking good.

Small move

StockMarketWire.com
Clarkson has warned that profits for 2016 will be materially lower than last time.

The group says that since the annual general meeting, the Clarksea index has fallen a further 10%, so that its average level for the first six months of 2016 was 30% lower than for the first half of 2015.

The Baltic Dry Index has similarly fallen sharply year on year, testing all-time lows during the first quarter of 2016.

This deterioration in freight rates reflects the increase in global economic uncertainty and the continuing imbalance between supply and demand in shipping and offshore.

Clarksons says the recent recovery in the oil price has driven the return of some activity within offshore broking, however the offshore industry remains depressed and will require this recovery to be sustained for some time before confidence returns and meaningful volumes start to come through. Overall transaction volumes within the broking division have continued to grow, but the fall in freight rates and asset values has both impacted revenues and driven the market to be spot focussed with little newbuilding activity. This combined with quiet capital markets and weak investor confidence has reduced activity within the financial division.

Whilst recent strengthening of the US dollar against sterling, if sustained, will offer some limited enhancement to reported profits, the Board nevertheless now anticipates that profits for 2016 will be materially lower than the full year 2015.

The Clarksons business does however remain highly robust, evidenced by the significant growth in volumes within broking, sales growth in research, an encouraging mandate pipeline within the financial division and a strong balance sheet.

The group will release its interim results for the six months ending 30 June on 15 August.

StockMarketWire.com
Clarkson warned on Monday that profits for both the first half and the full year were expected to be materially lower, amid a challenging environment in shipping and offshore capital markets.

'The challenging environment in shipping and offshore capital markets has led to transactions being pushed back within the financial segment and has compounded a quiet period in sale and purchase activity for the group across shipping and offshore,' the firm said.

The firm cited lower freight rates within the tanker market and a fall in the value of the US Dollar as additional headwinds expected to weigh on performance.