What Should You Pay For SALT? The Net Asset Value Of Scorpio Bulkers Plus The Premium
- SALT has amassed a huge order book of 79 dry bulk vessels across 3 vessel classes, with the majority being delivered in 2015 and 2016.
- A recovery in the dry bulk market is probable, according to the experts but the age old problem of over capacity may dampen the recovery when it materializes.
- SALT's share price is trading at circa 4% premium to its net asset value per share of $9.27.
- The premium is warranted as SALT offers: competent management, latest generation of bulk carriers and leveraging at the higher range of industry standards therefore maximizing shareholder returns.
- The current share price offers investors a good buy-in point.