ChiefEngr

ChiefEngr | Joined since 2015-03-05

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2015-03-12 09:01 | Report Abuse

Sale of 3 vessels minus Hub Enzo more or less confirmed. Now negotiating package price for Hub Enzo as she will need at least 3 months for propeller repair, that's main reason buyer holding their decision on Hub Enzo. Both buyer reps are very happy with Stellar & Grandiose, and can accept Gallardo. Anyway the potential owner actually interested with Gallardo And Enzo in the first place as both equipped with cargo gear...

My view...The BOD mostly from Dennis family and this is one of their main business for years. I don't think they will easily let it go. I believe in restructuring of the company as Bernard / Roy start getting involved in the management. Bernard have been steering their subsidiary Highline Shipping for quite some time now which they claim making profits for the parent company.

Problem with Hubline is cashflow management where the designated people to monitor company OPEX not doing it properly...for the time being i do not see they are going back to container business. It will take years for them to stabilize the operation...

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2015-03-05 22:42 | Report Abuse

Hi..I'm new here. Vessel price around USD2.5M - 3M per vessel except Hub Enzo maybe lower...