Shipping - Oil & Gas Tankers, Dry cargo, LNG Message Board

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Non-Tech : Shipping - Oil & Gas Tankers, Dry cargo, LNG

GLNG 38.41

+2.8%

2:01 PM EST

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To: Sam Citron who wrote (99)	5/16/2008 3:13:23 PM
From: Paul Senior	of 2669

Anyone here with an opinion to offer on PRGN? I see from that link: "Meanwhile, after the bell on Wednesday Greek dry bulk shipper Paragon Shipping (nasdaq: PRGN - news - people ) reported first-quarter earnings of $15.8 million, or 59 cents per Class A share, nearly triple the $5.8 million, or 43 cents a share, a year earlier. On an operating basis, the company earned 53 cents a share, far better than analysts' consensus estimates of 43 cents. “Paragon remains one of the most attractively valued stocks in the dry bulk universe, even after gains of 30% during the past month,” said Nokta. “With increased time charter coverage, the company is positioned to increase its payout ratio in the coming quarters.” " I don't understand how PRGN will specifically and soon benefit from the main point of the article which I take to mean bulk rates going up as China NOW needs more raw materials for rebuilding. According to PRGN website, "Our fleet deployment strategy for our new purchases will be to try to employ these vessels in the medium and long term time charter market, while our current fleet is deployed in one to two years time charter." I'd be wanting to find dry bulk carriers that are more tied to day-rate changes for a play on yet more increased Chinese demand now. (Still, of course, [t]PRGN[/t] given its nice div. yield now and maybe good future (per the analyst), may be a buy. Grub (100) for me!

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