Anybody interested in rating the top 5 ocean shipping picks for a 2-3 year horizon? Choose either dry-bulk or tanker. I would select ONAV, EGLE, DSX, TOPT (sleeper) and VLCCF. Just to clarify my thoughts I felt sustainable dividend and fleet age were 2 key indicies while load capacity for tankers was vital.
Also, does anyone know what dry-bulks carry the highest % of coal from the backed up Newcastle, Austrailian port? I would think that locked-in charters being paid even if they have to sit would be best in that situation.
BTW, just some things to consider. Here are the 12-month share valuation gains: DSX 66%, EGLE 55%, ONAV 21.3%, VLCCF 5.4%. Granted ONAV has been on a tear of late but they IPO'd at $17 and dropped into the $12's. Just some additional stuff to consider.
In my mind these 4 are it but there's something about TOPF and their philosophy to sell old vessels for lease-back and commit to new purchases. Allows them to walk away from older fleet vessels while still being a player in the sector.
I think you are correct about Top Tankers. I went to the website and tried to read all of the press releases and presentations. They monetize the ship assets, then lease them back and recharter. They are able to produce a modest amount of cash flow from these ships and redeploy into new fleet. Would have prefered that they put most of the cash back into the company rather than the large distributions, but that is history. They are left with a modest owned fleet and an even larger leased fleet.