green in my portfolio is my NRZ, and that, being by far my biggest position is keeping today's losses to a minimum, which eases the anxiety quite a bit. :~). I'm not even going to wonder why it's green..
Way back when, when NG soared to over $14 per whatever, the utility companies showed no compassion in raising their energy bills almost monthly to coincide with the commodity price rise. As the NG price dropped it took them many multiples of months and years to bring down the costs to consumers. Currently, with prices stable for a couple of years now they've gotten smart and have not linked any consumer price raises to the cost of the fuel. They now break down their bills (at least mine does) to Basic Gas Supply Service (cost of NG), Service charges, distribution charges, generation charges and Securitization Transition Charges (which covers a load of gobbledygook misc charges). They can raise any of these at any time regardless of the commodity price and get their raises stealthily. My current bill for NG is $9.50 for the commodity and $15.25 for all other charges.
Vin, right now this discovery is putting the pressure on Israel, which had discovered a major gas field off it's coast in 2010. It's been developing plans of how to exploit this major find and now those plans are in disarray because exporting gas to Egypt was a prime consideration.
No sarge, sold NMM about 2 weeks ago. Did increase my SFL this week after earnings. Also about time GLOP did something. I was getting tired of the constant red.
sarge, VZ would have been outstanding if gotten at the open on monday. It gapped down 17% before bouncing back on the early flash crash. Still a great buy here as it's gotten back most of the recent drop.
rb, mREITs like WMC will surely take a momentary dive when the FED raises rates. I'm holding off till then to buy back into some mREITS. I sold my WMC a few months back and will re buy it at that time. JMHO.
I almost always take after hours trades as MM's clearing their books for the day. Unless pertinent news is released late in the day or after market closing, after hours volume means little.
I'll be the anti-jk. I bought some more SFL early this afternoon which means if past history is any panacea you KNOW the stock will go down.
I agree with the sentiment holding it back a bit but it's attachment to the SDRL fiasco also makes investors wary of the company. Note this morning RIG announced they were putting a dividend suspension on the table for shareholders to vote on. No 3rd or 4thQ divvys if approved.
U.S. Navy destroyer stops four Mexicans rowing towards Texas . The Captain gets on the loud speaker and shouts, "Ahoy, small craft. Where are you headed?"
One of the Mexicans puts down his oar, stands up, and shouts, "Gringo ,we are invading the United States of America to reclaim the territory taken by the USA during the 1800's."
The entire crew on the destroyer doubles over in laughter.
When the Captain finally catches his breath, he gets back on the loud speaker and asks, "Just the four of you?"
The same Mexican stands up again and shouts, "No, we're the last four. The other 12 million are already there."
ed: This from the MLP IV board this morning, re: overseas shipping:
The global dry bulk freight market, crippled by oversupply but seeing signs of renewed activity, is expected to take at least a year to hit the road to recovery, according to the latest Platts survey of shipping market participants.
This inaugural Platts Dry Bulk Market Survey was conducted in July and involved more than 100 dry bulk market participants, with respondents including shipowners, ship-operators, charterers, shipbrokers and analysts. Those polled represented all dry bulk segments across the Capesize, Panamax, Supramax and Handysize markets.
Some 89% of respondents felt the dry bulk freight market will need a minimum of one year to recover, while 54% of the industry players questioned were not expecting any positive changes for at least three more years.
"Despite some signs of life in dry freight rates over the past few weeks, the results of our survey indicated that most market players do not believe in a sustained upturn any time soon," said Peter Norfolk, Platts editorial director for global shipping & freight. "While demand-side developments, particularly in China, remain of key importance to this sector, the overriding concern remains the oversupply of vessels."
Among participants occupying various roles, shipowners were more pessimistic than charterers. While 73% of shipowners said the market would need 3-5 years to recover, 41% of charterers felt the turnaround would happen in less than two years. However, both camps were unanimous that freight rates will not be shooting up within the next 12 months.
Shipping professionals continue to see tonnage oversupply as the main reason for the current depressed state of the dry bulk freight market, with more than half of those polled citing this as the key issue hampering the sector. Despite reasonable growth in demand across the key commodities, it remains outstripped by the availability of dry bulk vessels around the globe.
With the oversupply of tonnage being identified as the main factor behind the bearish dry bulk market, it comes as little surprise that tonnage recycling was seen by respondents as the primary driver for its recovery. As many as 39% of respondents placed their hopes on scrapping.
As for the differences across the vessel classes, some 41% of respondents believed that all of the dry bulk market segments are contributing to its overall failing health. Though if there was a spider in the web, it would probably be identified as the Capesize market, 33% of respondents said.
Eco-ships have been considered the darlings of the dry bulk market for a while now. However, as survey results showed, not everyone shared the opinion that eco-vessels have any noteworthy influence on the general state of affairs.
The benefits accruing from eco-efficient vessels on freight rates seem to be marginal with 43% of respondents saying these ships have no significant impact at the moment. This in part can be attributed to the currently low bunker prices that limit the fuel savings that modern tonnage gives. On the other hand, 54% of respondents felt that lower bunker prices are beneficial to both charterers and shipowners.
BDI is down over 20% since it's recent high on 8/5 of 1222. I'm sure that hasn't been helping the shippers either.