Shipper SBLK. Yes, I've been reviewing that one, and have an order to buy more at .90.
My last buys were at $1.39 and $1.06. I show I have some bought 4/09 at $$2.58. That '09 buy would be one of the few stocks bought at those market low months that didn't subsequently work out okay.
It looks like they've got several of their ships on charter vs on day-rate this year and going into next, and that the ceo is confident that their financing through '12 is not an issue for them. Refer here to a nice section on their website, "media interviews", where, 10/31, Mr Capralos, President, CEO is interviewed: shipping.capitallink.com
I have been trying to figure what the value of the ships would be sold for if they were scrapped. I assume they'd sell for some $ value per pound. I can't find what the weights of the ships are. (I found only "tonnage" - that's just what the ships can carry)
Fwiw, I have varying amounts of these shipping stocks: NM NNA SFL ULTR GASS TOO SBLK DSX . My largest position here is TOO: I like its business, its distribution yield, the fact there's no k-1. It's part of the Teekay group - and because I'm not exactly sure how it fits in, that part of TOO I'm not so comfortable with. |
