skipper54

Four Shippers Emerging from the Mire

Firstly, Shippers are those who load cargo on ships (generally exporters). All the companies you mention should be referred to as 'shipowners'.
Secondly, the dry cargo bulk sector has in the past been the object of speculation (particularly DRYS) which has borne little reference to reality (which is basically the law of supply and demand). You mention the ''listless behavior of the shipper stocks in the past few months" but that listlessness precisely reflects our market and also the lack of interest from the speculators. You are trying to pump the shares up again in order to get back some of that old volatility so beloved of the speculator but I can tell you that the fundamentals suck. Quite simply, there will be millions of tons of new ships coming into the market over the next 2 years without the corresponding increase in cargo volumes. And the balance sheets of today include vessels that are vastly over-valued. And we have seen that the banks are finally beginning to get tougher - don't expect any more covenant waivers: it will be 'pay up or go bust'. Or am I just a pessimist ....?!