Marine Stocks
by jcgthree | September 23, 2021 6:38 pm
Hi
I am president (CCBW) chief cook and bottle washer of a small arizona firm manufacturing, selling, and installing shower doors. (Venus Manufacturing Co.) We import glass and mirrors from overseas. My container shipping prices have gone from $3000 to $20000 per 40 ft container over the last 18 months. I couldnt help but think that the industry might be pocketing some money from this. I managed to hit a winner of the bat called Zim and have sort of moved on to other companies in the marine industries. Charts seem to be heading up on about 80% of the industry stocks although it appears everyone is waiting for the next quarters reports. Dont see container shipping prices coming down before Christmas and the Chinese new year.
One new ETF out there BOAT that uses an Index to make investments in these companies. Seems like newsletters would hit on this. Maybe some of you Irregulars could check this out and let me know what you think.
obviously a lot of debt could be involve in buying containerships and the industry has been thru tough times with covid.
Source URL: https://www.stockgumshoe.com/2021/09/microblog-marine-stocks/
Missed tickers that should have been listed SHIP ATCO CMRE
PANL SB GOGL NMM GNK GSL CPLP
Shipping is a fun industry for traders, but the boom and bust cycles seem to catch a lot of people off guard. I haven’t looked into any of them in detail recently. One to note in container shipping is Seaspan, which is controlled by Atlas Corp (ATCO) (whose largest shareholder is Fairfax Financial, Prem Watsa has been building a stake in Seaspan for years).
I have been looking at this too…I latched onto Safe Bulkers (SB).
Yes i latched on to some safe bulkers(sb) also and continued to invest in the marine stocks. Most had great earnings, great revenue beats and still not going up like a rocket. Check out the quarterly report on zim with a december 16, ex div date payout of $2.50. Switch to quarterly dividends.
Update on Marine is that most of the industrial (marine section) stocks have dropped back 10-15 % along with rest of the market. Container shipping rates still high at about $16,00o per container from asia china to west coast us. ( WAS $3000 TO $5000) You can follow these rates at fbx.freightos.com .
Earnings for quarter start posting in november so stay tuned. ZIM, ATCO,GOGL,DAC