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Genco Shipping & Trading Ltd. Message Board

  • zpenn76 zpenn76 Mar 8, 2013 9:55 AM Flag

    Breaking even

    What is the BDI's ballpark level where GNK breaks even?
    I understand that this can not be accurate because of the nature of the index, but maybe someone knows the range that can be translated to no losses for the company.

    Sentiment: Buy

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    • To get a very rough idea, look at the daily quoted time charter equivalent rate for each sub-index. (BCI, BPI, BSI, BHSI) and average them. If the average is over $10.5k/day then GNK is making money every day. If the average is less than $10.5k GNK is losing money.

      This is a very rough way of looking at it. You can certainly look at their fleet makeup in their investor area of the website. All of their charter contract info is disclosed in their quarterly SEC filings too. This info can be used to get a much more detailed financial picture. You can get close, the only tricky part is figuring out the window to use for the 2 week average. Most of the contracts are based on some % of a 2 week avererage. Knowing when the 2 week period starts and ends is important.

    • GNK is fine. Just buy it and cash out at $15 in December. That's all you need to know.

      Sentiment: Strong Buy

5.87-0.12(-2.00%)Jul 29 4:02 PMEDT