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Star Bulk, Navios, Eagle Bulk: February Could Be 'Dry,' But 2022 Should Be 'Bulk'

Jan. 06, 2022 11:53 AM ETStar Bulk Carriers Corp. (SBLK), NMMBDRY, DSX, GNK, GOGL, NETI, NYCB, SB, WU, EGLE111 Comments


  • Dry bulkers have had a fantastic 2021, and the start of 2022 is continuing that trend. Over the long run, we expect this trend to continue.
  • Having said that, it wasn't a straight line across 2021, and the past few months have seen the Baltic Dry Index moving 60% off its peak.
  • Traditionally, the start of a calendar year is a challenging period for dry bulkers, and we believe that this year they are facing a particularly greater challenge.
  • For that reason, we're not changing anything within our dry bulk mix; however, we focus on playing defense over the next 2.5 months.
  • Once February is over, we hope/expect the covered CALLs we sold to expire worthlessly, and then the dry-bulk rally can keep marching on without us stopping it short.
  • Looking for a portfolio of ideas like this one? Members of Wheel of Fortune get exclusive access to our model portfolio. Learn More »

Dry cargo ship in the sea, ocean.

Alexey_Lesik/iStock via Getty Images

Please note that this article is based on a few Trading Alerts that were issued on Jan 4, 2021 to Wheel of FORTUNE subscribers.

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Everybody Loves Raymond

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Star Bulk Carriers, Genco Shipping & Trading, Golden Ocean Group, Diana shipping, Safe Bulkers, Eagle Bulk Shipping, and Navios Maritime partners: total return price % change
We're not saying that 2022 won't continue the trend, but we believe that following such a huge run-up a pause is due.

As of today, SBLK is still looking very strong, just as we expect/wish it to be when we bought it last year.

Star bulk carriers, Eagle Bulk Shipping and Navios Maritime Partners: price target
Data by YCharts

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We're advising and consulting to private individuals, mostly (U)HNWI that we had been serving through many years of working within the private banking, wealth management and asset management arenas. This activity focuses on the long run and it's mostly based on a Buy & Hold strategy.

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We believe in, and invest for, the long run but we're very minded of the short run too. While it's possible to make a massive-quick "kill", here and there, good things usually come in small packages (and over time); so do returns. Therefore, we (hope but) don't expect our investments to double in value over a short period of time. We do, however, aim at outperforming the S&P 500, on a risk adjusted basis, and to deliver positive returns on an absolute basis, i.e. regardless of markets' returns and directions.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of SBLK, NMM, EGLE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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