TBS International: Underwater, but not Sinking [View article]
The stock is currently trading at roughly 80% of book value meaning that if the company were to shut down tomorrow and liquidate its assets, investors would come away with a 25% increase. ++++++++++++++++++++++...
Do you really believe that those 20 year (plus) old vessels purchased less than six months ago are going to get $30 million or more if sold now?
S&P market is closely related to freight market. Freight down resale prices down. Those $30 million vessels may not get $3 million if the market do not recover.
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The stock is currently trading at roughly 80% of book value meaning that if the company were to shut down tomorrow and liquidate its assets, investors would come away with a 25% increase.
Nov 05 22:41 pm
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All Comments by poor&unemployed »TBS International: Underwater, but not Sinking [View article]
++++++++++++++++++++++...
Do you really believe that those 20 year (plus) old vessels purchased less than six months ago are going to get $30 million or more if sold now?
S&P market is closely related to freight market. Freight down resale prices down. Those $30 million vessels may not get $3 million if the market do not recover.