einstein p fleet

Are the Dry Shippers Value Traps?

The world is literally printing money, so sooner or later the credit crunch should begin to ease. My understanding is that there is still a great deal of demand for dry bulk shippers and oil tankers --- the problem lies in the letters of credit needed to ship cargo from one port to another. No dividend is truly safe in this environment, but the risk reward on EXM and PRGN looks interesting at these levels. Bought both at half the price and sold half the position, so there isn't much risk, but I would consider buying more if the BDI began to move again.