Capesize newbuild orders plummet over fears of glut Orderbook down by 50% on 2007 levels as owners turn to smaller bulk carrier segments
Michelle Wiese Bockmann - Monday 30 June 2008
CAPESIZE orders have dropped to 53 vessels in the second quarter of 2008, compared to 117 ships in the first quarter and around 650 ordered in 2007, according to Paris-based broker Barry Rogliano Salles.
Not up to speed on this so anyone with knowledge comment on this relative to JF's company's.
Yes, it directly is relevant to BDI rates. Anticipate shippers to crash price per share going into the fall winter season as the new builds come on line. Heavily shorted DRYS, DSX and EXM on any decent pop (5% plus). GDOCF may drop back to a buck BUT as a long term hold just keep accumulating. That's how I'm playing this. Good luck
The risk of additional ships is overblown. Most are delayed because many new yards have no experience building them. There is also a shortage of parts and engines.
If this planet goes into a depression, you may have a case, but even then, you need to keep in mind that most GDOCF ships are chartered out at fixed rates with several owners. But a buck for GDOCF??? Long before the price gets even close to that Hubb and I will buy all the shares of sellers.
looks like someone left that backdoor to the Sanitarium open and the loons got out...to bad you don't know anything about the industry, JF, or GO...sounds like you all got a case of the Margin Call Blues and are all singing in the same choir, with your pants down around your ankles...glta JF longs!