It is the very fundamentals you point to that are the problem. For the hundredth time, earnings growth will be muted by more ships. Supply and demand. Demand is strong, but there are no significant barriers to building more and more ships.
"All shippers well off their lows". That's horse patootie. List those less harmed than NM.
NM is in exactly the same position as all shippers...well sold off from earlier highs. Patience is needed as the entire sector is under attack. But, this absolutely does not mean any fundamentals are at risk.
Sometimes I think a perceived negative cachet NM and the shipping biz has is just not worth the trouble, as some industries don't ever get the respect they deserve no matter how much money they make, and shipping seems to be one, over the years.
It's not the porno biz, for christ's sake, but I wonder sometimes if shipping has any better investor perception of it due the lack of respect the industry gets no matter how much profit it makes. Can't understand it as it's a great biz with fantastic growth potential.
Hard to always have to swim upstream mainly due to unfair reasons. Sorry, had to vent.