Top & Bottom 5 Day: SBLK @1.12(+21.74%) EGLE @1.43(+18.18%) SB @7.28(+9.15%), >>> BALT @4.12(-8.04%), EXM @1.46(-8.75%), SHIP @2.16(-8.86%). The driver behind SBLK enjoying 5 consecutive days of gains totaling over 20% is??? For the last 3 weeks EGLE has placed in the top 3 of the T&B5Day now qualifying for a double short alert. This is somewhat explained below in Ski’s notes. On the flip side we see SHIPhas qualified as a laggard 3 consecutive weeks however we withhold alerting any trades.
The Baltic Exchange: BDI =726 (-15.78%), BCI =1465 (-5.73%), BPI =815 (-20.10%), BSI =695 (-13.88%), BHSI =426 (-12.16%). The Panasisters taking a spanking during decent coal demand just don’t add up like in the past. The market cannot find support with above average coal demand so guess what will happen in a few weeks when the coal tapers off? Slowly read that last sentence again !
The Fixtures: Ore =10, Coal =12, T/C =45, Period =4, Scrap =1, total =72. According to RS Platou there were no fixtures reported on the 25th. Story here is the coal runs out numbering the ore chores. More Kadywhompusness!
Best Done Period vs. spot rates
Capes: none reported vs. $5,732.
Pmax: DIMITRIS APESAKIS 4-7 MOS $11,250 vs.$6,882.
Smax: Densa Jaguar 3-5 MOS $10,500 vs.$7,534.
The Vessels: VLOC =0, Capes =14, Post P =1, Kmax =5, Pmax =27, Smax =10, Hmax =5, Hsize =3, Bulkers =7, total =72.
Ski Notes: It has been our experience that if a shipping equity leads or lags the sector for 2 consecutive weeks a contrarian bet has good results. If we then have that same equity lead or lag for a third consecutive week the contrarian bet is even more often a rewarding gamble. It is now EGLE that has outperformed the entire sector for 3 weeks and is a double alert regardless of any rumors of consolidation. Boomer James shorts EGLE.
SHIP...because the market value of the publicly held shares ("MVPHS") of the Company's common stock for 30 consecutive business days, from December 6, 2011 to January 23, 2012, was below the minimum requirement of $5,000,000 for the continued listing on the Nasdaq Global Market, the Company is not in compliance with Nasdaq Listing Rule 5450(b)(1)(C). The applicable grace period to regain compliance is 180 days.
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