Nat filed for $500 million mixed shelf offering with sec. the fleet renewal should be underway soon.the smart thing to do would not use common down here, and offer commons in few years when stock price is higher. but have feeling will not. anyone else feel like the $55 million newbuild vessel was overpriced? not sure if its a eco design or not. a newbuild can be had for $57 mil right now..so 2 million of for someone else mistake?
Does seem high, but prices do seem to have firmed a bit. The way HH has always done things in the past is to buy a ship then issue common afterwards. He may be planning on substantial fleet growth but it will almost certainly be followed by big dilution.
It has to be in place, so they're doing that. How much of the 470 credit facility is still in place? I do believe that they will buy a few this year, so that will evaporate and cash availability has to be considered. They're actually playing the game quite well, I believe. I don't know the game very well, unfortunately. Today's volume is the heaviest in quite a while. Probably one of their highest. Maybe the corner HAS been turned...I'd bet yes.