poor&unemployed

BDI Signals Slack Demand for Raw Materials

BDI is very much rigged index. There are no cleared contracts, which are audited by anyone.

There is something called related party transaction, in which charter rates are manupulated by the related parties. It is like father and son chartering the vessels to each other at $100,000 /day while there are 100 odd vessels willing do the business for $5000 /day or less. BDI includes these transactions to inflate the index.

Explain to me if I am wrong!

Genco Shipping: A New Bubble in the Making?

If this is the case for Genco - What about TBS and Excel?

In past, it was easier for the owners of older tonnage to survive due to low capital costs. But TBS and Excel have old tonnage at very high cost.

Any comments?

Baltic Dry Index Signaling a Market Bottom?

BDI will make all time high by end of 2009, I will be billionaire and media will compare me to Warren.

If not life will go on for this poor and unemployed!

Genco Shipping's New Bulk Carrier Leased at a Whopping Rate

Genco did not purchase a vessel. It purchased a CASHFLOW. This is no different than any commercial real estate deal, where buyer purchases a fully occupied office building with a known cashflow.

In this case - Genco has effectively converted revolving cash facility into income stream. To keep a long story short for all the shipping experts on the wallstreet, who are investing other peoples money (mutual funds etc) - debt is not a income. If it walks like a duck, talks like a duck - it is a duck.

In the market, many first class charterers are reneotiating the contracts. What ever happend to the COMMON SENSE?

Is it Time to Buy Dry Bulk Shippers?

Dry dulk companies are like communism. They are intoxicating to weak and opportunity for the power hungry.

Unless you are a trader - flush your money down the toilet. DRYS, EGLE, GNK, SBLK or EXM They are all same. Out of USA.

About that turn around - I am waiting for my QQQQ to get back to $50 for a very long time now. At least they will not (I hope) go under.

Will All Shipping Companies Suffer Equally?

Finally -

www.forbes.com/2008/12...

Will All Shipping Companies Suffer Equally?

As the shipping companies cut the divident to "ZERO" and struggle with cash-flow, the investors and speculators will lose interest in shipping sector, shares of all the publically traded shipping companies will drop below one US dollar. Biggest investors - mutual funds would not be allowed to invest in them (due to share price) which will bring in private equity supported by the management.

Senior management will personally own all the vessels within next 5 years. - management 100 - Share holders - Zero.

It's same old game from 90's.

Looking Good: Genco in Particular, Shipping in General

Yeah maybe the ships are devalued and that may not look good on the balance sheet but they still float and they still carry goods and they still produce income. Your new car was worth $10,000 less after you drove it off the car lot but it will still get you to work for the next five years.

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Do you apply the same logic to real estate??? Wanna buy my condo in Las Vegas?

There is no such thing as low debt in Shipping.

Looking Good: Genco in Particular, Shipping in General

"I decided Monday to put in an order for some DryShips stock, since it was trading at $3.54 and a P/E of 0.17 at Friday’s market close - but it’s already too late for the first bounce, because the ask price at my broker was already up above $23."

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THESE ARE NOT IGNORANT PEOPLE. THEY ARE PAID PUMPER!

Looking Good: Genco in Particular, Shipping in General

There is a old saying, which is much ignored by the "Shipping Pundits" - Hindsight is 20/20. Looking at past earnings and dividents of a highly cyclical company is like finding a hot blind date every Saturday.

There are several thousand vessels out there and above mentioned companies collectively own less than 200 of them. If you look at the 90's, you will find that the investors lost the money but the management of most companies went away with big smile on their faces and few vessels in the pockets.

Incidently, back then we had the "Asian Tigers" this time we have our hopes pinned on China.