DOF egenkapital og tidligere nedskrivninger

JALLA
DOF 11.04.2018 kl 07:55 12967

Hei,
Leste i går at DOF har en egenkapital på 1,74/ Aksje i skrivende stund. Da enker jeg at om markedet begynner å snu så????

1. Hvor mange båter er for tiden i opplag??
2. Hvor mye er de blitt nedskrevet med over de siste år?
3. Kommer det mere oppdrag i Brasil til greie rater?
4. Ved alle båter i jobb på dagens rater så vil de jo måtte skrive opp skipsverdier etter hvert skulle jeg trop og da vil jo egenkapitalen pr. aksje gå samme vei etter hvert.

Tror at vi fremover kommer til å få en hyggelig reise i DOF......

/Jalla
Redigert 11.04.2018 kl 08:12 Du må logge inn for å svare

Oljå på 71 dollars og alle båter i sving, 2kr here we come!

Dersom revisorene har rett så ser vi en pris på 1.74 ganske snart. Blir Q1 snu punktet?
JALLA
11.04.2018 kl 09:16 9487

ja og ny tre års kontrakt i dag, undrer hva verdien kan være på her??
5198
11.04.2018 kl 09:18 9465

DOF skal p.d.d ha fire båter i opplag men flere av disse er på vei ut, blir litt overasket om de har båter i opplag når sommeren kommer.
Brasil gir forholdsvis gode rater pga markedet er som det er der nede med båtene som må ha « Brasil flagg» så her er det penger å tjene.

Det som nå blir spennende er om de slutter med ekstraordinære nedskrivninger, den dagen dette slutter vil selskapet ha et ganske solid overskudd. Skulle noe av de siste årenes nedskrivninger bli reversert de nest årene vil dette ha utrolig mye å si for bokført egenkapital pr aksje. Denne er i dag på 1,7-1,8 kr pr aksje, men kan fort øke opp mot en kr pr år om en ser på nedbetalingen av lån samt oppjustering av skipsverdiene.


Litt overasket over at denne ikke har gått mer de siste dagene, utrolig mange gode lange kontrakter. Vi venter fremdeles på Brasil jobbene men de kontraktene vi har fått de siste ukene gjør at DOF ikke lenger er i den hengemyra de har vært.

Tror snart investorene vil prise inn at dette selskapet nå er på full fart ut av krisen, kan ikke se noen grunn til at dette selskapet ikke skal prises til bokførte verdier på 6-12 mnd sikt ( altså rundt 2 kr).
Redigert 11.04.2018 kl 09:26 Du må logge inn for å svare
JALLA
11.04.2018 kl 09:21 9427

Ja nedbetalingen av lån vil jo styrke egenkapitalen men jeg tror at det kan komme en reversering på nedskrivningen i tillegg til om alle båter er i jobb og rater er stabile på dagens nivå eller går opp
JALLA
11.04.2018 kl 09:45 9328

Og allerede 15,5 mill aksjer omsatt etter 45 min.handel. kan bli bra det :)
Kontur
11.04.2018 kl 10:41 9174

http://securities.clarksons.com/~/media/BF5767C1282A4D2398EE670AE089245D.ashx

Les denne. Og det er før den virkelige oppturen starter, kun basert på tørre data.
DOF vil kunne passere 2 kroner relativt raskt.
JALLA
11.04.2018 kl 10:54 9097

Takker Kontur, ser ut som bra lesning :)
Kontur
11.04.2018 kl 11:23 8988

Kopier rett nettleser
5198
11.04.2018 kl 11:55 8867

Utdrag fra Clarksons Platou Securities AS, dette sier bare noe om potensialet på mellomlangt sikt 12-18 mnd.


A deeply undervalued play on a highly valuable subsidiary
In our view DOF ASA is deeply undervalued because of 1) uncertainty around the timing of a market recovery, 2) recent liquidity issues and 3) little attention from international investors. All of these issues are tied together, but we think in the next 12-18 months all of them will be resolved fully or partly. If visibility around these issues can be improved, we expect the stock will perform well. In part due to leverage, our NOK 1.90 Target Price indicates the stock could nearly triple from current levels. An IPO of DOF Subsea represents the most concrete near-term means of realizing such values.
Many investors remain uncertain about the timing of recovery for offshore vessels, and as such an improvement in dayrates should allay much of that concern. As written in the OSV market section of this report, offshore activity levels are set to rise due to a large increase in project sanctioning, and dayrates in the North Sea are already increasing despite low demand levels. That leads us to believe that rates will further improve as activity moves higher.
The offshore vessel sector has seen an extraordinary wave of restructuring in recent years, and we believe DOF is now moving past the restructuring phase. The company completed an equity issue, bond equitization and bank debt adjustment in June-16, as well as a NOK 500m equity issue to address liquidity issues in DOF Subsea during late Dec-17. With liquidity issues no longer a near-term concern, investors can now begin to think about underlying values. However, it takes time for investors to build confidence and take the equity out of the penalty box.
For DOF ASA to regain confidence and attention from investors, we think they need to move from defense to offense. The natural next step in that regard is an IPO for DOF Subsea, the key component of value in DOF ASA. The company marketed an IPO process for DOF Subsea in late May-17, though falling oil prices and falling stocks closed the window for a new oil services stock at that time. Since the end of May-17, oil prices have risen nearly 40% and DOF Subsea’s peer group (SUBC, FTI, OII, HLX, MDR) has traded up by 25%. Naturally we are more bullish about the prospects of an IPO for DOF Subsea, the most concrete near- term means of realizing value in DOF ASA. By our reckoning DOF ASA’s share of DOF Subsea amounts to 2.7x DOF ASA’s current market cap.
focuss
11.04.2018 kl 12:30 8741

5198

Dette høres jo helt spinnvilt ut. Hvor gammelt er dette?

" By our reckoning DOF ASA’s share of DOF Subsea amounts to 2.7x DOF ASA’s current market cap. "

Redigert 11.04.2018 kl 12:31 Du må logge inn for å svare
5198
11.04.2018 kl 12:40 8648

Denne analysen er referert til flere ganger på forumet og er fra Jan 2018.

http://securities.clarksons.com/~/media/BF5767C1282A4D2398EE670AE089245D.ashx
Redigert 11.04.2018 kl 12:42 Du må logge inn for å svare

Synes det er hel fantastisk. Doffern klatrer noen få prosent. Men melder kontrakter på kontrakter, senest i dag med god kontrakt fra Petrobas. Fred Olsen Energi har på 2 dager klatret 20 % uten noen ting. Ikke lett å bli klok.

Nyhet fra Thomson Reuters:

OSLO, April 11 (Reuters) – The cost of renting offshore supply vessels (OSVs), servicing oil and gas firms, will continue to rise as many ships that were mothballed up during the downturn will not return to the market, the chief executive of Norway's DOF said on Wednesday.

A number of offshore vessel companies went bankrupt after oil prices plunged between 2014 and 2016, or were forced to merge with competitors to survive as oil companies cut spending for exploration and new developments.

But the rates for hiring specialized vessels, which include platform supply (PSV), diving support (DSV) and anchor-handling vessels (AHTS), have increased in the last year.

While the North Sea has been leading the increase in demand for OSVs, with rates for some vessel segments improving by 30 percent from a year ago, activity is starting to pick also elsewhere in the world, DOF's CEO told Reuters.

"The rate levels for PSVs have increased quite a bit from low levels (last year)... Now, at least, you can pay interest rates," Mons Aase said.

The company, which operates more than 60 OSVs, said in a separated statement on Wednesday it had won a three-year contract from Petrobras for a diving support vessel (DSV) in Brazil.
DOF shares were trading up by 3.8 percent on the Oslo exchange by 0955 GMT, and were up 37 percent since the beginning of the year.

The company didn't disclose the contract's value or price, but Aase said it expected "better earnings" from the new contract than before.

"There are reasons to be a bit more optimistic than we have been... Overall (globally), we see that a modest increase in activity," he told Reuters.

His optimism was based on the expectation that a majority of offshore supply vessels laid up in Europe will not return to the market.

"Many of those vessels parked in Europe came from Africa and Brazil, and they don't meet the (European) specifications... We clearly see that a significant portion, about two-thirds, will not be back," Aase said.

Last week, the Norwegian Shipowners' Association said oil companies had to be prepared to pay higher rates for offshore supply vessels in order to ensure the survival of their suppliers.
Some 183 offshore supply vessels and drilling rigs, corresponding to almost one third of the Norwegian offshore supply fleet, were idle last year, the Association's data showed.

That number had fallen to 162 units by February, it added.

(Reporting by Nerijus Adomaitis, editing by Terje Solsvik) ((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters Messaging: nerijus.adomaitis.thomsonreuters@reuters.net)
5198
11.04.2018 kl 15:05 8374

Litt merkelig at denne ikke går mer, får håpe den stiger litt jevnt fremover, de aller fleste har jo ikke posisjonert seg i supply ennå.

Hva i allværden skjer her?
Har folk toalt mista hodet?
Denne er den største bankersen på Ose.
Analyser kommer med tripling i kursen, så presterer folk å selge!!
Er dere totalt hjerne død?

Da er det nok mange som blir skuffet, vintermånedene er de verste i bransjen. Ingen av disse kontraktene som er tildelt kommer vel til å ha noen regnskapsmessig effekt før Q2 eller Q3.
Det som blir spennende med Q1 er jo om nedskrivning av skipsverdier er over eller ei
5198
11.04.2018 kl 15:59 8564

Sant de som ikke har forstått at Q1 er bare sorgen vil bli negativt overasket, samtidig sa ledelsen under Q4 at Q1 skulle bli litt bedre dette er meget sterkt i dagens marked. Vi vil nok se en klar bedring i inntektene fra Q2 derfra vil det tikke jevnt oppover i mange år, kvartal for kvartal.
JALLA
11.04.2018 kl 15:59 8546

Tror ikke det kommer mere nedskrivninger siden rater er på tur opp og er stabile fremover. Tror nok sommer og høsten vil komme brått på og da vil nokk aksje kursen gi speiling til markedet!
Redigert 11.04.2018 kl 16:34 Du må logge inn for å svare

Det er bare en K i nok.
11.04.2018 kl 16:32 8455

Kan vi få slippe stave troll.
thsnek
11.04.2018 kl 17:51 8294

Innkommet 11.04.2018 12:05

OSLO, April 11 (Reuters) - The cost of renting offshore
supply vessels (OSVs), servicing oil and gas firms, will
continue to rise as many ships that were mothballed up during
the downturn will not return to the market, the chief executive
of Norway's DOF said on Wednesday.
A number of offshore vessel companies went bankrupt after
oil prices plunged between 2014 and 2016, or were forced to
merge with competitors to survive as oil companies cut spending
for exploration and new developments.
But the rates for hiring specialized vessels, which include
platform supply (PSV), diving support (DSV) and anchor-handling
vessels (AHTS), have increased in the last year.
While the North Sea has been leading the increase in demand
for OSVs, with rates for some vessel segments improving by 30
percent from a year ago, activity is starting to pick also
elsewhere in the world, DOF's CEO told Reuters.
"The rate levels for PSVs have increased quite a bit from
low levels (last year)... Now, at least, you can pay interest
rates," Mons Aase said.
The company, which operates more than 60 OSVs, said in a
separated statement on Wednesday it had won a three-year
contract from Petrobras for a diving support vessel
(DSV) in Brazil.
DOF shares were trading up by 3.8 percent on the Oslo
exchange by 0955 GMT, and were up 37 percent since the beginning
of the year.
The company didn't disclose the contract's value or price,
but Aase said it expected "better earnings" from the new
contract than before.
"There are reasons to be a bit more optimistic than we have
been... Overall (globally), we see that a modest increase in
activity," he told Reuters.
His optimism was based on the expectation that a majority of
offshore supply vessels laid up in Europe will not return to the
market.
"Many of those vessels parked in Europe came from Africa and
Brazil, and they don't meet the (European) specifications... We
clearly see that a significant portion, about two-thirds, will
not be back," Aase said.
Last week, the Norwegian Shipowners' Association said oil
companies had to be prepared to pay higher rates for offshore
supply vessels in order to ensure the survival of their
suppliers.
Some 183 offshore supply vessels and drilling rigs,
corresponding to almost one third of the Norwegian offshore
supply fleet, were idle last year, the Association's data
showed.
That number had fallen to 162 units by February, it added.

thsnek
11.04.2018 kl 17:51 8294

Innkommet 11.04.2018 12:05

OSLO, April 11 (Reuters) - The cost of renting offshore
supply vessels (OSVs), servicing oil and gas firms, will
continue to rise as many ships that were mothballed up during
the downturn will not return to the market, the chief executive
of Norway's DOF said on Wednesday.
A number of offshore vessel companies went bankrupt after
oil prices plunged between 2014 and 2016, or were forced to
merge with competitors to survive as oil companies cut spending
for exploration and new developments.
But the rates for hiring specialized vessels, which include
platform supply (PSV), diving support (DSV) and anchor-handling
vessels (AHTS), have increased in the last year.
While the North Sea has been leading the increase in demand
for OSVs, with rates for some vessel segments improving by 30
percent from a year ago, activity is starting to pick also
elsewhere in the world, DOF's CEO told Reuters.
"The rate levels for PSVs have increased quite a bit from
low levels (last year)... Now, at least, you can pay interest
rates," Mons Aase said.
The company, which operates more than 60 OSVs, said in a
separated statement on Wednesday it had won a three-year
contract from Petrobras for a diving support vessel
(DSV) in Brazil.
DOF shares were trading up by 3.8 percent on the Oslo
exchange by 0955 GMT, and were up 37 percent since the beginning
of the year.
The company didn't disclose the contract's value or price,
but Aase said it expected "better earnings" from the new
contract than before.
"There are reasons to be a bit more optimistic than we have
been... Overall (globally), we see that a modest increase in
activity," he told Reuters.
His optimism was based on the expectation that a majority of
offshore supply vessels laid up in Europe will not return to the
market.
"Many of those vessels parked in Europe came from Africa and
Brazil, and they don't meet the (European) specifications... We
clearly see that a significant portion, about two-thirds, will
not be back," Aase said.
Last week, the Norwegian Shipowners' Association said oil
companies had to be prepared to pay higher rates for offshore
supply vessels in order to ensure the survival of their
suppliers.
Some 183 offshore supply vessels and drilling rigs,
corresponding to almost one third of the Norwegian offshore
supply fleet, were idle last year, the Association's data
showed.
That number had fallen to 162 units by February, it added.


Får håpe at folk har fått opp øynene sine vedr DOF og anbefalinger.
finnes ikke en eneste grunn til å selge denne under 2 kr, ja med mindre du er nødt å selge.
håper man nå kan knipe igjen og få prisen man fortjener, altså over 2 kr.

time will show.
JALLA
12.04.2018 kl 08:42 7838

I det siste så synes jeg at de har vært flinkere å børs melde kontakter etter hvert som de er kommet.
Kan være at det har hjulpet på om det er mange som har mailet og klaget sin nød om lite synlighet overfor markedet.
Håper at de opprettholder aktiviteten og melder etter hvert som de kommer inn.
b66240
12.04.2018 kl 08:56 7780

Det nevnes aldri hva prisen på kontraktene er. Hadde vært artig å visst
JALLA
12.04.2018 kl 08:58 7767

Tror ikke det betyr så mye, rater er jo noenlunde opplyste i markedet...
b66240
12.04.2018 kl 09:03 7744

Kontrakter på 1,5 år kan jo variere
pusimiga
12.04.2018 kl 09:15 7700

DOF er bombe aksje,beste investering på OB...her kommer mange dobbling

her er det bare å komme seg inn i en viss fart.
her kommer store gode nyheter på løpende bånd. overraskelser på Q1 kan forventes.
Denne står i 2 kr før du aner.

andre brasilkontrakten gikk til solstad farstad
davan
12.04.2018 kl 10:19 7517

Om så det er så kan ikke dof få alle kontraktene i Brasil, men det er mange båter
på kontrakt i B, så det kommer sikkert noen flere til dof.
Dof er godt innarbeidet i B, det gir en viss uttelling, så opp med humøret, dof i kr 2 om litt!!

EN ting er ihvertfall ikke enkslt å forstå seg på, det er en del av de som kaller seg for INVESTORER i DOF.
Kan ikke være mye investor når du selger på disse nivåer.
makan til NOLDUSSER!!

Kursen skulle vert godt over 1 kr nå. Er det lønnsomheten i kontraktene som er meldt som bekymrer?

Solstad Farstad kontrakten skal påbegynnes i 3Q, de kontraktene som DOF er med på starter ikke før seint i 4Q og starten på 1Q 2019. Dessuten så fikk de en kontrakt i går på 3 år og opsjon på 2 år.
Redigert 12.04.2018 kl 11:32 Du må logge inn for å svare