Top & Bottom 5 Day: No Gainers >>> GNK 6.93 (-27.59%) EXM 1.65 (-30.38%) TBSI 0.40 (-34.43%). Well now, not a gainer in the entire sector… Do you ever ask yourself how in the heck you got involved in shipping? For the record EXM is being alerted iaw our 5Day criteria as a potential long trade. This is a scary trade if you agree with Boomer James. It is his belief the stock will go under a dollar within 6 months. TMT readers will recall last week we pointed out how DRYS got smacked a bit. Well they didn’t make our leader board but keep them in mind. The stock has fallen ~25 % since November 11th.
The Baltic Exchange: BDI 1807 (-1.53%), BCI 3049 (-3.21%), BPI 1794 (+1.87%),
BSI 1380 (+4.23%), BHSI 639 (-5.33%). The handies are getting spanked, and things are worse than I thought for the operators. We will be getting more informed on the subject and will report back to the readership.
The Fixtures: Ore =24, Coal =11, T/C =68, Period =16, Scrap =1, HSS =1,
Grain =1, total =122. btw I will soon be publishing a separate report dedicated to fixture analysis for those who may be interested. We had a strong week thanks to one of our favorite smokers Taipower. Again we see Midwest Soy Beans heading to China via the Panama. They (Chinese) are worried about becoming too dependent on our corn, but soy is a different product you see…
Best done period vs. spot rates;
Capes: Navios Koyo 1 Year $17,900 vs. $26,786
Pmax: Spar Neptun 4-6 MOS $22,000 vs. $14,635
Smax: Alitis 90-149 Days $12,500 vs. $14,491
The Vessels: VLOC =0, Capes =32, P/P =8, Kmax =7, Pmax =51, Smax =17,
Hmax =1, Hsize =4, Bulkers =2, total =122.
Ski Notes: The following “familiar vessels” populated the fixture reports; Star Kappa, Navios Koyo, Thetis, Alitis. The lenders for TBSI are demanding the common shares go all the way to zero. “ even though our lenders have made it clear that they would not agree to a restructuring in which any value were attributed to our common equity.”
Diana Shipping Inc. (NYSE: DSX) had its price target lowered by analysts at Jefferies to $11.00. Really, Jefferies thinks Diana will see 11 in a year. Really!
Good Fortunes
Ski
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