MCX

[boatguy]

Snowcat started this thread on the members board here:

http://www.3stocksonfire.org/trading/index.php?topic=3959.new#new


MCX shipping-

MC Shipping Inc. is engaged in the business of investing in, owning and operating second-hand vessels. As of
December 31, 2004, the Company's fleet included seven liquid petroleum gas carriers, four containerships and two
multipurpose seariver vessels. Each of the Company's vessels is owned by a separate wholly owned subsidiary of the
Company. The Company employs its vessels on time charter, bareboat charter or spot charter. With time charters,
the Company receives a fixed charterhire per on-hire day and is responsible for meeting all the operating expenses of
the vessels. In the case of bareboat charters, the Company receives a fixed charterhire per day for the vessel and the
charterer is responsible for all the costs associated with the vessel's operation during the bareboat charter period. In
the case of voyage charters, the vessel is contracted for a voyage between two ports: the Company is paid for the
tonnage transported and pays all voyage costs.

Recent news that could impact MCX-

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2005/12/31/cngas31.xml&menuId=242&sSheet=/money/2005/12/31/ixcitytop.html

[snowcat]

The problem is, boatguy, that liquid natural gas is a complicated process.  The gas has to be piped to a lng facility, frozen cryogenically (really, really cold) - that compresses the gas into a liquid state.  It is then shipped in cryogenic freezer tankers, and  is taken to a facility that does a "regasification" process, and then piped to the consumer.  Pretty expensive, and I kind of doubt that there is a facility in the Ukraine.

As the price of n gas increases, the process becomes more feasible - but now MCX is going to have it as it was prior to Nov - slow growth.

[boatguy]

Snowcat-

I wasn't thinking of delivery to Ukraine-

25% of western Europes gas flows through that pipeline, the effects will be felt soon, within days, now Ukraine might not divert the flow for their own use but I wouldn't count on it.

Guess we will know soon enough.

Wish I had invested in MCX 5 years ago! 10,000$ would now be worth 150K!

Still think this will be a good long term investment. I will hold this along with Motorola (in at 14$)  for the long term and add when possible.


From the article below:

"The fact is that Britain's own supplies of gas from the North Sea are not what they were. New horizons have to be opened up. Soon, for example, the sight of huge liquefied natural gas (LNG) ships from Algeria and Venezuela will become familiar in UK ports "

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2006/01/02/wruss02.xml&sSheet=/news/2006/01/02/ixnewstop.html

http://news.bbc.co.uk/2/hi/europe/4573944.stm

How this impacts MCX remains to be seen.

Thanks for the reply

Ken

[setravis]

Boatguy, the more I looked at this the more I liked it, and had to get in on this thread.
I suppose the selling pressure has died out so has the volume.
It now has taken a bounce off a 61.8% Fibonacci retracement.

MCX has had a very nice run up.
One could say this should indicate a takeover candidate,
working some new project. As it happens, bergesens of norway just finished
an ipo in november, it is flush with money and is the worlds biggest lpg-carriers.
MCX might just be the nice complementing of their fleet of big lpg carriers,
it would fit.
On the other hand considering that MCX is still not expensive considering it is
net asset value. One can still expect a nice run-up to come, and a takeover
could come from any of the other lpg-players in this small world.
IMHO...All speculatoin of course.In any case I am looking to buy come Tuesday morning at the open.

Boatguy, Applaud the work on this pick.......


Technicals
Last Price Quote is:
-0.73%below 13-day EMA
9.45%above 50-day EMA
RS Rating: 94 

Fundamentals
Key Data:
Market Cap (M): $70.57 
P/E Ratio: 48.79 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Buy

[setravis]

Had a very nice report for the Third Quarter, news of November 10, 2005.....
Old news now, but good news!!!

Press Release Source: MC Shipping Inc.


MC Shipping Announces Third Quarter 2005 Results and Changes in Management Structure
Thursday November 10, 12:10 pm ET


MONTE CARLO, Monaco--(BUSINESS WIRE)--Nov. 10, 2005--MC Shipping Inc. (AMEX: MCX - News) reported net income of $2,921,619 or $0.33 per share on gross revenues (excluding interest income) of $9,796,898 for the quarter that ended on September 30, 2005, compared to net income of $359,482 or $0.04 per share on gross revenue of $8,127,173 for the quarter ended September 30, 2004 (see Appendix 1 for the three months financial summary).

The Company's earnings before interest, taxes, depreciation and amortization (EBITDA) were approximately $ 6.8 million and the ratio of EBITDA to interest expense was approximately 5.4 for the quarter that ended on September 30, 2005. In the corresponding quarter of 2004, EBITDA was approximately $ 2.9 million and the ratio of EBITDA to interest expense was approximately 3.1.

Vessel operating expenses (inclusive of dry-dock amortization) were $3,835,790 in the third quarter 2005 compared to $4,463,744 in the third quarter 2004. As a percentage of revenue, vessel operating expenses plus amortization of dry-docking costs decreased from 54.9% in the third quarter of 2004 to 39.2% in the third quarter of 2005.

Commenting on the third quarter results, Tony Crawford, the CEO of the Company, observed, "the Company's net results in the last quarter were in line with our estimates but we did suffer an increase in vessel operating expenses that mostly related to general rise in the crew wages and the price of lube oils. Nevertheless, the consistent quarter-on-quarter improvements keep steadily forming solid foundation for further growth. The Company commenced the process of negotiating new contracts for the vessels whose charters expire in the near term and continues to be optimistic about its prospects."

On November 7, 2005, the Board of Directors of the Company reviewed the management structure of the Company. Since V.Ships is no longer a major shareholder of the Company, the Board decided it was appropriate to terminate the service agreement with V.Investments Limited, whereby Mr. Crawford was seconded by V.Ships to MC Shipping. Furthermore, because of the Board's strong desire to grow the Company, Mr. Crawford was asked to accept the position as full time Chief Executive Officer of MC Shipping and should further select suitable supporting officers and staff to ensure the Company develops in line with the Board's requirements.

MC Shipping Inc. fully or partially owns and operates a fleet of 16 vessels that includes 10 liquefied petroleum gas (LPG) carriers from 3,000 to 78,000 m3, 4 container vessels of 2,300 TEU capacity and 2 small multipurpose/general cargo ships.

This news release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. One can generally identify these forward-looking statements because they contain "expect", "believe", "anticipate", "estimate", "confident" and other words that convey a similar meaning. One can also identify these statements as statements that do not relate strictly to historical or current facts. One should understand that it is not possible to predict or identify all factors that could cause actual results to differ from the Company's forward-looking statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.

[boatguy]

Setravis glad to hear you are in on this one.

Good luck tommorow.

Might get some more myself!

[boatguy]

MCX had another good day.

If we can get over 14.25 with increasing volume tommorow or the next day we may be set for new highs!!

High was up to 13.99 today.

[boatguy]

MCX up over a buck today!

Target around 14.40

Hoping this is leg 4 of a Wolfwave

Any opinions welcome

[boatguy]

WOW!!!

13.80$ now-

Might hit my target today

[boatguy]

High of 14.20 today-

Looking good

[boatguy]

Alright now!! Nice move today for MCX.

14$ was tough resistance but it was broken today on high volume.

If we can get through 15.50 next stop is 20$

400% volume increase on no news, wonder what is in the works?

[calven]

My FULL endorsement of this trade! I will look to get in tomorrow ASAP. Applaud your work...

Nice pick boatguy. A dedicated poster on the chartsetups.com board likes this stock too. Maybe your the person Im talking about. Regardless great find!

Cal 

[calven]

Oh wait that is you.      "boatguy"

Again great work !

[boatguy]

Oh wait that is you.      "boatguy"

Again great work !

Thanks Calvern, I enjoy your Wolfwave discission and thought I would give a little support to your site!

Correct me if I'm wrong but if MCX closes at or above 15 it will be included in IBD 100.

[boatguy]

MCX is HOT-Yes

Picked up some more at 14.25