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Resource Capital Corp. Message Board

  • mysonchino mysonchino Sep 14, 2011 1:56 PM Flag

    shipping and tankers

    Any opinions about the tanker/shipping segment of the market? Looking at it as a dividend source. Opinions welcome.TIA.

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    • Dividends Food and oil are still pretty popular.

    • Board members...SFL (yield 11%) and SDRL (yield 7%) have been very sweet to me...they both pay nice dividends have good color, strong drivers and a nice forward outlook...

      SFL is my second leading stock gainer of all time because I got of lot of it free on spin offs back when I owned FRO (which I made an outstanding profit on and sold before it crashed)...I also sold half of my SFL at about $22.00 a share and now I am a heavy buyer of SFL again as I am also adding to my current SDRL holdings...

      When I saw the amount of oil coming out of that little hole in the Gulf Of Mexico on TV I could not believe it...I always try to follow the money trail and I feel off shore drilling is where the money is at this time...As always, good luck to all...!

    • As Fred said, there are experienced and knowledgeable persons on the GSL board regarding shippers.

      I have purchased some tankers. I went against my rules and bought some ONAV, subsequently sold it for a loss.

      Currently, DHT is a tanker company that has substantial cash relative to its overall debt, and is paying a dividend. They tried to acquire another tanker company, and impressed me when they let the deal go when they could not get the number of shares they wanted at their price rather than chasing the purchase.

      As you probably know, the shipping sector has been overbuilt, with additional new builds coming on line, so share prices may not recover for some time. If you want to pick the bottom, my suggestion would be to look for companies that are solid financially and have continued their dividends or reinstated them. I have GSL (bought very low and am holding after selling half to lock in profits) which probably won't have a dividend until 2012 or 2013; DHT; and ESEA. All three are currently in a downtrend, so I'm waiting to add more.


    • myson, after reading the posts and thinking of my own experience, I'd ask your same question on the GSL board. Some of the folks there are ones you may already be familiar with.

    • Made some good money on FRO several years back. Any particular shippers you have in mind?

    • I'd be interested in responses as well. I owned GSL for quite a while and made some money trading and finally left it behind with some profit. I also got burned pretty badly on ONAV.

      Shipping/tanker stocks can be pretty good dividend machines, but they don't seem to have the kind of reliability I prefer.

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