a filipino trend follower's blog: in the news: C/CHELSEA LOGISTICS

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10 JUN 2020
Chelsea defers capex, studies job cuts
https://www.bworldonline.com/chelsea-defers-capex-studies-job-cuts/

04 JUN 2020
Pandemic delays delivery of Chelsea Logistics’ passenger ferry from Japan
https://www.bworldonline.com/pandemic-delays-delivery-of-chelsea-logistics-passenger-ferry-from-japan/

11 MAR 2020
Chelsea Logistics losses hit P832 million in 2019
https://www.bworldonline.com/chelsea-logistics-losses-hit-p832-million-in-2019/

10 MAR 2020
Chelsea Logistics was not profitable last year, says Dennis Uy
https://www.bworldonline.com/chelsea-logistics-was-not-profitable-last-year-says-dennis-uy/

19 FEB 2020
PGC awaits bank filing on Chelsea
https://www.bworldonline.com/pgc-awaits-bank-filing-on-chelsea/

17 FEB 2020
P700M lang daw! Dennis Uy not seeking guarantee for P16B loan of Chelsea
https://bilyonaryo.com.ph/2020/02/16/p700m-lang-daw-dennis-uy-not-seeking-guarantee-for-p16b-loan-of-chelsea/

17 JAN 2020
Chelsea Logistics launches M/V Starlite Venus
https://bilyonaryo.com.ph/2020/01/16/chelsea-logistics-launches-m-v-starlite-venus/

08 SEPT 2019
Dito investing P20 billion for Clark data center
https://www.philstar.com/business/2019/09/08/1949858/dito-investing-p20-billion-clark-data-center

04 SEPT 2019
DOTr clears Chelsea’s Davao airport proposal
https://www.philstar.com/business/2019/09/04/1948849/dotr-clears-chelseas-davao-airport-proposal

15 JUL 2019
Third telco license boosts Chelsea’s prospects
https://www.bworldonline.com/third-telco-license-boosts-chelseas-prospects/

13 JUL 2019
Launching of M/V Trans-Asia 20
http://edge.pse.com.ph/openDiscViewer.do?edge_no=f7eafd870cdc4ad4efdfc15ec263a54d#sthash.xGQ1gyQv.dpbs

06 JUL 2019
PPA aims to award OPS to Chelsea for Sasa in Q3
https://www.bworldonline.com/ppa-aims-to-award-ops-to-chelsea-for-sasa-in-q3/

25 JUN 2019
Chelsea orders new ferry from Japanese shipbuilder
https://www.bworldonline.com/chelsea-orders-new-ferry-from-japanese-shipbuilder/

29 MAY 2019
Chelsea gets Philippine Ports Authority OK on Davao port proposal
https://www.philstar.com/business/2019/05/29/1921644/chelsea-gets-philippine-ports-authority-ok-davao-port-proposal

12 MAY 2019
Chelsea 1st quarter income rises 21%
https://www.bworldonline.com/chelsea-1st-quarter-income-rises-21/

09 MAY 2019
Chelsea Logistics, PNOC look to jointly develop LNG logistics hub in Mabini
https://www.bworldonline.com/chelsea-logistics-pnoc-look-to-jointly-develop-lng-logistics-hub-in-mabini/

19 APR 2019
Chelsea Logistics incurs P551-million loss in 2018
https://www.philstar.com/business/2019/04/18/1910862/chelsea-logistics-incurs-p551-million-loss-2018

25 NOV 2018
Chelsea Logistics Holdings Corp.
https://www.bworldonline.com/chelsea-logistics-holdings-corp/

12 OCT 2018
Chelsea’s Davao airport proposal gains headway
https://www.philstar.com/business/2018/10/12/1859246/chelseas-davao-airport-proposal-gains-headway

09 OCT 2018
Chelsea offers to modernize Sasa port
https://www.bworldonline.com/chelsea-offers-to-modernize-sasa-port/

08 OCT 2018
Chelsea Logistics allocates over $100M for fleet expansion
https://www.bworldonline.com/chelsea-logistics-allocates-over-100m-for-fleet-expansion/

06 OCT 2018
Chelsea Logistics acquires two new vessels
https://www.bworldonline.com/chelsea-logistics-acquires-two-new-vessels/

20 SEPT 2018
Chelsea proposes P49-billion spending for Davao airport
Read more at https://www.philstar.com/business/2018/09/20/1852919/chelsea-proposes-p49-billion-spending-davao-airport#r8qBHsvDdM5JoDgq.99

23 JUL 2018
DOTr reviews unsolicited proposals for regional airports
Read more at https://www.philstar.com/business/2018/07/23/1835818/dotr-reviews-unsolicited-proposals-regional-airports#IesAOrOL2KjXkuTW.99

04 JUL 2018
Chelsea Logistics’ Trans-Asia deal voided by PCC
http://bworldonline.com/chelsea-logistics-trans-asia-deal-voided-by-pcc/

14 MAY 2018
Chelsea in advanced talks with foreign partners for ‘third player’ telecom bid
http://bworldonline.com/chelsea-in-advanced-talks-with-foreign-partners-for-third-player-telecom-bid/

21 MAR 2018
Chelsea focusing on airport and seaport development
http://bworldonline.com/chelsea-focusing-on-airport-and-seaport-development/

04 JAN 2018
Chelsea boosting 2GO stake to 40%
http://www.philstar.com/business/2018/01/04/1774307/chelsea-boosting-2go-stake-40

16 NOV 2017
Net income of Chelsea Logistics quadruples on 2GO acquisition
https://www.rappler.com/business/industries/188651-chelsea-logistics-net-income-q3

10 NOV 2017
Uy’s Chelsea buys another logistics firm
http://bworldonline.com/uys-chelsea-buys-another-logistics-firm/

05 SEPT
Chelsea Logistics to buy Starlite Ferries
http://bworldonline.com/chelsea-logistics-buy-starlite-ferries/

26 AUG 2017
Chelsea Logistics boosts Q2 earnings by 98%
http://bworldonline.com/chelsea-logistics-boosts-q2-earnings-98/

28 JUL 2017
Lucky numbers

We already know that Chelsea Logistics Holdings Corp. priced its initial public offering (IPO) of 546,593,000 new common shares at P10.68 per share.

If that price doesn’t look curious to you, you’ll need a little knowledge of Chinese business tradition—specifically, traditions over what is considered lucky or unlucky. In this case, P10.68 can look a lot like “168” by just taking out the zero. And one-six-eight in Fookien sounds close to the words that translate to “one road to prosperity.”

“In pricing our initial public offer of shares, we decided to leave more than enough room for upside in the equities market,” CLC founder and chair Dennis Uy said. “Our decision also took into account our desire to ensure great value for our prospective investors. Aside from the numbers 168 being lucky, our strong fundamentals and exciting growth prospects should give our investors a lot of upswing.”

More interestingly, however, the offer shares will allow the investing public to own 30 percent of the 1,821,977,615 outstanding common shares of Chelsea Logistics after the IPO —the firm that will hold the bulk of the Davao businessman’s new interests apart from this flagship firm, Phoenix Petroleum Philippines Inc.

“We always tell investors that Chelsea presents them the opportunity to contribute to the growth of the shipping and logistics industry and the economy as a whole,” Uy said.

The offer period is scheduled for July 24-31 in time for the listing and commencement of the trading of the company’s shares on the main board of the Philippine Stock Exchange under the ticker symbol “CLC” on Aug. 8 (another auspicious date there: the eighth day of the eighth month of the year.)

The company earmarked proceeds from the IPO for fleet expansion; purchase or upgrade of ports, port facilities, containers, and machineries and equipment; acquisition of other shipping and logistics firms; and general corporate purposes.

Chelsea Logistics is working toward becoming the prime mover of vital goods, cargoes and passengers in the Philippines and eventually a regional player by expanding organically and creating synergies with 2GO Group Inc. and affiliates within the Udenna Group.

Udenna started the shipping business in 2006 through Chelsea Shipping Corp. to support the operations of Phoenix Petroleum.

The business has since grown into the country’s largest shipping group. It has the largest tanker fleet in terms of capacity with a total 39,271.64 gross registered tonnage.

In March, Chelsea Logistics acquired a significant interest in 2GO Group and subsequently took over its management. The SM Group would later purchase an equally substantial stake in the publicly listed integrated transport solutions provider. —DAXIM L. LUCAS