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Star Bulk Carriers Corp. Message Board

  • timepassestime timepassestime Dec 6, 2011 9:41 PM Flag

    Knightsbridge getting into Bulk...

    2012 may be better than we think...depending on how low she goes, SBLK still looks good to buy more...anybody care to guess the bottom, as I'd rather not continue trying to catch on the falling phase...

    "Demand for iron ore, coal and other dry-bulk cargoes will grow 8.1 percent next year as the fleet of carriers expands 12 percent, Morgan Stanley estimated in a Nov. 27 report. Oil shipments will advance 2.1 percent, compared with a 9.3 percent gain in the supply of supertankers, also known as very large crude carriers, or VLCCs, the bank said.

    “We’re looking at dry-bulk acquisitions because they can give a decent contribution to our yield right away with less risk,” said Stockholm-based Lorentzon, a 62-year-old chemical engineer by training. “It will recover earlier than tankers because the demand side is growing better.”

    Panamaxes cost about $30 million apiece and can secure charters at almost $14,000 a day, more than double the $5,700 needed to cover operating costs, Lorentzon said. The company already owns four ore-carrying capesizes."

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    • "Panamax's cost about $30 million apiece and can secure charters at almost $14,000 a day, more than double the $5,700 needed to cover operating costs, Lorentzon said."

      Wow, I wouldn't try to take that one to the bank.
      There are many more expenses involved than the "operating costs" as they put it.

    • time,
      I'm going to offer one more piece of advice. Do not buy either dry bulk or crude oil tankers. The quote you displayed tells the story... in an already poor market, it will be even worse next year for both sectors of the shipping market. Too many ships. Not enough charters. Look at TOO or GMLP, two master limited partnerships that are taxed as C-corps. I.e., distributions are taxed as regular dividends.

      Over and out.

 
SBLK
14.30-0.70(-4.67%)Sep 12 4:00 PMEDT

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