Follow Shipping Stocks?

Well, I snagged twice my original holding around $2.00 so I'm almost even. After dividends I might even be even.

Where will it go. "only the shadow knows" but I can hope. Baltic Dry is up so .....
 
Day rates have come back pretty hard in dry bulk land. Its hard to tell whether this is a temporary pop or the start of prolonged healthier rates. My suspicion is that things will settle out, but whether it is at higher or lower rates than today's I do not know. One of the world's largest dry bulk carriers (Mitsui OSK, Japanese) has also publicly said that they are on the prowl for acquisition candidates and they believe they have the balance sheet capacity to pull off a large deal.
 
Just by the by, take a gander at the most recent deal that NM announced last night. Acquiring ships at a distressed price with virtually no cash outlay and with long term charters that will more than pay for the ships. Looks to me like they are cleaning up amid the wreckage.
 
brewer12345 said:
Just by the by, take a gander at the most recent deal that NM announced last night. Acquiring ships at a distressed price with virtually no cash outlay and with long term charters that will more than pay for the ships. Looks to me like they are cleaning up amid the wreckage.
Click to expand...


almost pulled the trigger on NM 3 days ago... just missed it. but continue to watch it none the less.:(
 
brewer12345 said:
Just by the by, take a gander at the most recent deal that NM announced last night. Acquiring ships at a distressed price with virtually no cash outlay and with long term charters that will more than pay for the ships. Looks to me like they are cleaning up amid the wreckage.
Click to expand...

Hope it pays off for them. I'm all for getting back in the black with my shares.:blink:
 
I think it is likely that over the next year or so they will scoop up more ships in distressed deals, all of which would be very accretive. They have already grabbed 6 capes in such deals.

The real juice I am hoping for is from NNA warrants. This is a NM-sponsored blind trust set up to acquire shipping assets ad it is sitting on $250MM in cash to do a deal by 6/30/10. Bought a pile of warrants as a shoot-the-moon play, and I expect that they will find attractive stuff to buy.
 
when I look at the sea of red in my portfolio, it's almost all in tanker stocks - EGLE, OCNF, ONAV, FRO, SFL, DSSPF, GDOCF, DSX. Huge hits to all of them. These were nice income producers, and now most of them have eliminated the dividend. I will probably never get back what I paid for them, yet I hold on. Once business picks up again, and I believe it will, the divs will be reinstated and their prices will pop nicely. Or not.
 
chasinva69 said:
when I look at the sea of red in my portfolio, it's almost all in tanker stocks - EGLE, OCNF, ONAV, FRO, SFL, DSSPF, GDOCF, DSX. Huge hits to all of them. These were nice income producers, and now most of them have eliminated the dividend. I will probably never get back what I paid for them, yet I hold on. Once business picks up again, and I believe it will, the divs will be reinstated and their prices will pop nicely. Or not.
Click to expand...

Let's hope so.;)
 
Dawg52 said:
Let's hope so.;)
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Saint's are winning - so far. Then again along with EGLE, I have C, UBS, BAC, DOW - hope springs eternal.

:D :LOL::LOL::LOL:. Still holding Con Ed and still believe the Pat's are a good football team in spite of the er ahem recent game.

The Norwegian widow is having a rough year.

heh heh heh - good thing my retirement is full auto with Target Retirement. But one must do a little something to keep those hormones happy. :ROFLMAO: :whistle:.
 
since I am a dividend hound, bought a bunch more Annally Mortgage (NLY) today. Last night they announced their biggest dividend yet of 69 cents (12.9% yld.), payable end of Oct. Figure that some of you folks who like(d) tanker stocks might be interested in this. Do your own DD. It's in a controversial business but I'm perfectly comfortable with it given the interest rates and slope of the yield curve.
 
chasinva69 said:
since I am a dividend hound, bought a bunch more Annally Mortgage (NLY) today. Last night they announced their biggest dividend yet of 69 cents (12.9% yld.), payable end of Oct. Figure that some of you folks who like(d) tanker stocks might be interested in this. Do your own DD. It's in a controversial business but I'm perfectly comfortable with it given the interest rates and slope of the yield curve.
Click to expand...

In another thread people are discussing what they learned in the recent contretemps. IMO, for the most part it is not possible to learn procedures from things like this, just as is it not possible to learn how to fight the next war by adjusting to avoid all the things that screwed you up in the last.

But I think one fairly stable thing that can be gleaned from the recent difficulty is that it is very hard to think of all the ways that financial companies can bite your a$$.

Ha
 
My son, who was once a tanker driver, told me a couple years ago that the shipping business is cyclical. This too shall pass.
 
chasinva69 said:
since I am a dividend hound, bought a bunch more Annally Mortgage (NLY) today. Last night they announced their biggest dividend yet of 69 cents (12.9% yld.), payable end of Oct. Figure that some of you folks who like(d) tanker stocks might be interested in this. Do your own DD. It's in a controversial business but I'm perfectly comfortable with it given the interest rates and slope of the yield curve.
Click to expand...


I have owned a security issued by ANH (very similar to NLY) for a while. You should be well aware that these things are all about interest rate risk. They will print money as long as the yield curve stays steep and does not rise much in general. If the reverse happens, it is not a great time for them. So you will need to think about and carefully time your exit. And unless you know a lot about cuspy coupon mortgage backed securities in a leveraged portfolio, there are people trading these things that know way more than you or I about how these things work. Word to the wise.
 
brewer12345 said:
I have owned a security issued by ANH (very similar to NLY) for a while. You should be well aware that these things are all about interest rate risk. They will print money as long as the yield curve stays steep and does not rise much in general. If the reverse happens, it is not a great time for them. So you will need to think about and carefully time your exit. And unless you know a lot about cuspy coupon mortgage backed securities in a leveraged portfolio, there are people trading these things that know way more than you or I about how these things work. Word to the wise.
Click to expand...

I own ANH also, and NLY since 15. And AGNC since 25. And yeah, I do know quite a bit about how these things work. Certainly agree, though, that you have to be ready to exit if the cost of money starts rising.
 
Are AGNC & ANH good buy?

Are AGNC & ANH good buys? Any other high dividend paying stocks?
 
rsingh6675 said:
Are AGNC & ANH good buys? Any other high dividend paying stocks?
Click to expand...


I've owned ANH_B for years at about $23 per share. I've DCA'ed a bit over the years. Brewer got me interested in it way back when. I've enjoyed the 6.25% ever since. Yes, I'd buy it now.
 
Brat said:
Did any of you catch this article in the New York Times:

http://www.nytimes.com/2009/11/12/business/global/12shipping.html?th&emc=th

Container shipping operations are in BIG trouble, and so are their lenders.
Click to expand...

Old news for those of us who follow the industry. Yup, there will be containership owner bankruptcies and the bank will get nailed.

Meanwhile, dry bulk day rates are poppin' fresh again. Those bottom fishing deals Ms. Frangou did earlier this year are loking even better.
 
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