Congratulations on your good timing, however I was the one and only poster I can recall ever mentioning another public offering being a possibility and a concern. See you guys & gals after this thing bottoms out from this news...Nordic Freedom fixture today 126ws sometime in march.
I don't know if I'd worry about missing out on the sale of a ship. NAT is trying to grow it's fleet. They set up the financing to do this in '05. I'm more concerned about another stock offering in order to pay off debt.
Personally, I predicted a rollercoaster ride 10 - 14 days after the ex-div. date, so I guess this lack of activity may suggest that we're establishing a fairly solid base right here. Any thoughts?
I am looking into these tanker companies and looking for solid reasons to buy or not to buy! New to the tanker area but researching like I did on the pipelines in Canada several years ago! Before that the utilities and their prefered stocks! Anything that pays out over 10 to 15% income will get noticed by the other 95% of investors later! Any idea's appreciated!!!!
Maybe the solid dividend payout got the attention of a lot of income investors recently, but...
I'm concerned about the impact of the high oil inventories in the US (left over from mild winter?) on near-term tanker rates.
If I'm not mistaken, the second calendar quarter usually sees a downturn in rates, which might compound the situation... Johnny-come-latelies who bought recently might become alarmed and sell off, not realizing that the rates tend to be seasonal, and that the industry has a cyclical history.
SuezMax daily rates just dropped to the $40K's from the $60K's in a few days. I don't do technical charting, but my guess is that the market psychology will not permit a solid base at this level for much longer, even if this stock can easily beat the long bond at $30K/day.