Hi, I've been watching this one a while nowI don't think you've...

Hi, I've been watching this one a while now

I don't think you've understood the situation at all.

The purpose is to give them flexibility should the right opportunity present itself, until then I don't see them issuing any shares, they haven't done on previous occasions so why do you think it will happen this time round?

They are a real niche player at the moment. Yes they have a healthy bank balance but only 1 source of income, once the bulk carrier business becomes profitable again, they will get there own ship back in service, they might use the cash to buy some more to take advantage of the upswing, or they may try to get into container terminals, or tugboats if they find a suitable opportunity.

They have the cash to expand, but as yet don't seem to have found any real suitable targets to acquire or joint venture with and some of these business are capital intensive to start with. In the meantime the bank balance grows continually.

LOTM