Michael Demaray

Investing in Shipping Stocks: 'Maximum Pessimism' Is Here

Check out Global Ship Lease (GSL). Long term container charters (10 yr average). When you back out excess cash it's trading at a Mkt Cap / Free Cash Flow Equity of less than 1. Currently negotiating waivers from LTV covenant with banks. Little liquidity and I suspect a dividend oriented institutional holder blew out their position this week taking the stock down dramatically....