You just don’t know it yet.
The Brent-WTI spread is widening again, now more than $12. I realize my ALJ position has been boring and uneventful. However, I am hoping that will change soon. With the spread widening, this sector has to come back from the dead, a la Dracula, to suck the blood out of those who are short.
Once again, my favorites are ALJ, DK, WNR, HFC and ALDW.
The BDI got crushed again. However, with regards to BALT, both Supramax and Handysize rates haven’t budged at all. As a matter of fact, they’ve been going higher. They own 2 capes, 4 supras and 5 handys. Do the math.
Nevertheless, BALT has been in the doghouse, with the rest of the shippers. I am being punished for the sins of others.
YELP has rebounded nicely off the lows. Due to my situation, I haven’t been able to buy any just yet. There is a rotation taking place and I don’t like it–not one bit.
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AEO on a tear, still like it?
like it
any other shippers with low number of capes in their fleet?
egle
Of course with EGLE you have a much higher risk of a secondary, BALT’s already raised all the capital they should need.
EGLE
You adding more BALT here??
nope
Call me a piker, but from a quick looksey at earnings of the shippers this time last year when there was a similar rate run, and fuel costs were equal/slightly less, one would think earnings would be far better than all of these “predicted” losses. Is this too vanilla?