You can get answer by yourself.
The current cash flow for next 2 years is around $80m for each year. If HMM goes bk and Hanjin does not, then the cash flow will be down to over $40m each year. That is based on existing other contracts and current BDI. Now you can evaluate if the current price is good or not.
NNA is my top holding. Average cost is less than $1.70. Now i am little neverous as you show the same confidence as you had on NMM 3 months ago. AF may #$%$ up again on NNA this time.
How much do you trust her? For me it is almost 0 now. Regarding market stabilization, there is no way she can know it. The BDI could start to drop just right after her purchase.
30% is widely expected! no 15%. After the cut, the earning will be 28 cents and the cash flow will be $60m per quarter. Based on the cash flow, it will take 11 years to pay out the debt. It is a little high in the current environment.
What they have signed is a contract, so VALE cannot just walk away without any compensation. The problem here is that VALE is also the biggest customer of existing revenue, so NSAL may have to re-negotiate with VALE on this. The possible result is that the profit of the new project may be just enough to cover the interest however, NSAL may also get the extension of current contract.