"Capesize vessels are typically above 150,000 long tons deadweight (DWT), and ships in this class include bulk carriers transporting coal, ore, and other commodity raw materials. The term capesize is most commonly used to describe bulk carriers rather than tankers. A standard capesize bulker is around 175,000 DWT, although larger ships (normally dedicated to ore transportation) have been built, up to 400,000 DWT. The large dimensions and deep drafts of such vessels mean that only the largest deep water terminals can accommodate them. Capesize ships are commonly used in transportation of coal, iron ore and commodity raw materials. Because of this, they are often termed bulk carriers rather than tankers. Subcategories of capesize vessels include very large ore carriers (VLOC) and very large bulk carriers (VLBC) of above 200,000 DWT. These vessels are mainly designed to carry iron ore."
Audio, where do you see the Suexmax rates at 60K. On the Teekay Tanker site spot rates for Suezmax are showing to be around $44K as of July 18.
Are much higher rates just around the corner? So it would seem. That is what a lot of people are predicting. I would feel better if they were starting to move up now. Got to be patient I guess.
All good points but it would be nice to see shipping rates start to move up as a lot of people expect them to in the 2nd half of 2014. Last year they started to move up about this same time.
From Fidelity: August 11 APP to announce Q2 earnings After Market (Unconfirmed)
JR, While the current spot rate is $5149 per day you can not say that is what those 28 Panamax are leasing for that unless you have access to some info the rest of us do not.
To keep producing steel at record levels they will need to import a lot of iron ore as their own mines do not seem to be able to compete with imported ore. That should help get the rates of Caps back up to to a decent level.
JR, Think of it as a game of Monopoly. You play the whole game on a shoestring. You buy all the properties you can. You mortgage the properties you own to buy more properties, houses and hotels. You are always on the edge of going broke but in the end you win the game. Those that sit on their cash and don't leverage and invest always lose.
Nothing. Better question IMO: What will happen to APP stock price when 2nd qtr results are announced?
Must have, looks like he jumped the fence to the other side. O' the games people play now!
Now there will be 6.5M shares outstanding. Another 50:1 reverse split will leave 130,000 shares outstanding. What will happen when they get down to one share outstanding? Will that mean no more reverse splits?
Holding here also. Everything I read, other than the daily Mills Report, seems to indicate shipping rates will be moving up soon.
All we need is a decent 2nd qtr report. Doesn't have to be great just positive with a favorable outlook for the rest of the year.
IMO SG must have had some insight as to what the 2nd quarter is going to look like and what they rest of the year might bring. Perhaps the new distribution center is really starting to kick in now. They will make some changes to get APP back to profitability and then will unload their stake, or at least a part of it, for a decent if not huge gain in a year or two. Perhaps they will dress it up for a sale. Like I said before, SG is not a charitable organization. They are in this to make money.
And what could be the possible conflict of interest. So for the time being he is acting CEO. No problem here that I can see.