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Genco Shipping & Trading Ltd. Message Board

  • panamax950 panamax950 Jan 24, 2011 8:49 PM Flag

    Anyone know where we are heading?

    These numbers lately for BDI and drops look eeery... Granted there were a lot of things happening at that time... How low will this go...

    May 1, 2009 17.23 21.17 16.21 20.40 10,943,216
    Apr 24, 2009 18.25 19.30 16.15 18.55 10,074,376
    Apr 17, 2009 14.25 19.45 13.54 19.08 12,168,791
    Apr 9, 2009 13.60 14.40 12.70 14.20 4,882,482
    Apr 3, 2009 12.92 14.65 11.75 14.29 8,310,490
    Mar 27, 2009 12.33 15.15 12.25 13.87 10,121,802
    Mar 20, 2009 12.15 14.50 11.26 11.98 9,617,315
    Mar 13, 2009 11.81 15.13 10.98 11.95 12,084,878
    Mar 6, 2009 11.74 12.84 9.01 12.29 13,217,142
    Feb 27, 2009 13.20 13.59 10.56 12.27 8,577,450
    Feb 20, 2009 15.46 15.85 11.50 12.51 8,207,263
    Feb 13, 2009 21.38 22.76 15.10 16.51 14,783,807
    Feb 6, 2009 14.91 20.85 14.21 20.34 13,294,322
    Jan 30, 2009 14.79 17.21 14.00 15.55 9,774,747
    Jan 23, 2009 14.99 16.10 13.25 14.22 7,171,981
    Jan 16, 2009 18.55 18.70 13.53 15.26 10,924,411
    Jan 9, 2009 17.42 19.85 16.00 18.64 15,335,576
    Jan 2, 2009 13.21 17.35 11.84 17.01 7,946,899
    Dec 26, 2008 14.90 14.90 12.03 13.14 5,501,275
    Dec 19, 2008 12.23 18.92 11.59 15.00 19,142,638
    Dec 12, 2008 8.89 13.52 8.00 11.00 23,178,100
    Dec 5, 2008 9.01 9.09 6.72 7.50 7,489,245
    Nov 28, 2008 7.77 9.84 6.72 9.11 7,205,289
    Nov 21, 2008 13.80 13.80 6.43 7.32 10,732,808
    Nov 14, 2008 20.59 21.40 12.33 13.03 9,651,132
    Nov 7, 2008 21.19 25.39 17.63 18.76 10,144,800
    Oct 31, 2008 15.59 20.90 13.00 20.85 12,245,000
    Oct 24, 2008 20.06 22.73 14.00 15.73 8,127,600
    Oct 17, 2008 18.47 22.82 16.15 19.49 12,962,100
    Oct 10, 2008 24.51 24.51 15.16 16.45 13,858,900

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    • Yes.. you are heading to the toilet

      Read this

      The apocolypse arrives

      http://www.tradewinds.no/finance/574650/shockwave-strikes-us

      • 1 Reply to stelios_hondrocolos
      • Explains the over-reaction in GNK today, even though they only have one frigging ship on contract with KLC.

        Funny, I've never even heard of KLC before, but they appear to have been a pretty big player in the drybulk space - own 43 ships, and have another 100 or so on (money losing) charters contracted to other ship owners, the biggest being Eagle (13), which is why it got pummeled even worse than GNK today.

        From Tradewinds.com:

        "It is a reminder to everybody that even if you have charters in place the owners might not always be there to honour them,” a top analyst told TradeWinds earlier today."

    • How low will what go, the BDI or our stinking stock price? I'm sick to my stomach for not selling last week at $14.40 like I was contemplating, a big loss in profit from as recently as Jan 6th when we traded around $15.40, but noooooo....hold on dude, just ride out the dip.....

      *I'm* the dip(s-h-t) for not listening to what my gut was telling me to do, which was to bail. Now it's all gone, with the downgrade we got crushed to the tune of -8.5% (so far) and I'm back to even, my 35% profit is gone. Crap! And my 30% gain in DSX is almost gone too. DOUBLE CRAP! And I guarantee if I sell either they'll pop back, I'm scr-wed either way.

    • Deflation??-- cost more to operate than not operate???

      • 1 Reply to wwalexanderjr
      • seeking equilibrium. shipping rates are rather inelastic. if you don't have at least 15 000 tonnes of something to send across the ocean, you don't really need a drybulk. and if you have 15 000 tonnes of something, you were probably anticipating this and already have a ship lined up long before.

        maybe this year will bring a bumper crop in every food commodity. maybe the world will build 5 million more cars than anticipated. the demand picture is consistently underestimated. 500-600 extra ships (i believe that's about where we're at) into a market of about 7 000 ships is a 7% oversupply.

        on the bright side, these shipping rates will temper global inflation rates. and subdued inflation helps keep interest rates low. and if interest rates stay low, it encourages stronger economic growth. and stronger economic growth results in more drybulk ship charters....

 
GNK
1.700.00(0.00%)Apr 21 4:07 PMEDT