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Atlantic Navigation announces the acquisition of two new vessels for US$28.7mn
By Kevin Scully-Financial Blog  •  November 20, 2013
Atlantic Navigation announces the acquisition of two new vessels for US$28.7mn Wednesday, 20 November, 2013  8:52 AM
Posted by Kevin Scully

Atlantic Navigation, one of my new Stock Picks, has announced that it will acquire two new vessels for US$28.7mn.

These acquisitions are important as Atlantic's current utilisation rate is in excess of 90% so it wil be hard to drive revenue and profit growth from just charter rate renewals.  One vessel is due for delivery in 2014 and the second in 2015.  No impact from the acquisitions on 2013 earnings which remain intact.


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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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