This week was good for Suezmax tanker rates, sell off seems unrelated to market fundamentals
Laughing at the short term panic. Doubled down at 6.67
i believe this is now the all time low for NAT
For some new (er) investors here you need to know that shipping stocks including the good ones are volatile as well as their preferred and baby bonds. It's hard but you can't buy them like momentum stocks. when they reach 52 week highs; you sell. 52 week lowd you buy. You never buy at higher than the 52 week low high average. Like REITS it's a good to sell if you're up 16%, more than a year of dividends. Sometimes you will the etd bond literally thrown away. As an example DSXN baby bonds sold for $12 last spring 9.5% coupon. Now 25+.
You can make a lot of money with these and REITS but it takes real discipline.
To all who sold today: Thanks. Thanks for letting me buy cheap shares in a great company.
It's satisfying to see the share price of NAT finally start to reflect the reality of its assets and balance sheet, but I do feel bad for all the retail investors who have been duped by this company. For all of you who like this sector, I would suggest that you consider selling NAT and putting the money to wok in TNK, DHT or EURN. IMO, NAT does not deserve your loyalty.
Such a load of hate. Y'all still mad over Hillary losing? NAT is not bankrupt but trading like it. A hedge fund closed a position. Regardless they actually made a profit! So move on if you lost.$$.To all those who.are short, Well.Played.
Herb, don't you believe in NAT as much as you believe in NAO? Or hasn't gone low enough for you?
Hey Herb your stock is trash....aren't you glad you and your son bought a lot of shares $4-$5 ago.
New 52 week low congratulations Herb!
I got in at $ 10 I should have bailed ship earlier. I can not see any future here --- Is there any good reason to stay in--maybe it's time to bail out dis-connected
JOSEPH & NANCY
I think top management has put this company in such a hole that large investors will stay away. It is time for a change at the top to help all the small investors who have seen their shares continually diluted without any positive gains.
Gamer, your 28 cent dividend forecast is fantasy. Here's why. For Q2 the reported Suez rates..EURN 47 percent days at 22K, GNRT 46 percent at 20.9K, TNK 55 percent at 19.2K, NAT undisclosed. Recent rates have been and are currently well below these numbers.
Excluding the NAO equity loss NAT was about net break-even for Q1 at 22.7K. I will guess Q2 will be 17-18K down about 5K from Q1, an estimated 13 cent loss ( 5K X 30 vessels X 85 days, excluding unknown drdocks), at the low-end of current estimates.
Stock performance During the week Tsakos Energy Navigation released its 1Q17 earnings, its stock price rose 5.6%—the highest weekly return among its peers. To learn more about the stock performance of Tsakos Energy Navigation’s peers, read Ups and Downs: Analyzing Crude Tanker Industry in Week 19.
Below are the returns of crude oil tanker companies in past month as of May 15, 2017:
Teekay Tankers (TNK) fell 2%. Nordic American Tankers (NAT) fell 9.6%. DHT Holdings (DHT) rose 0.67%. Euronav (EURN) rose 1.3%. Gener8 Maritime (GNRT) fell 0.37%.
What are the suezy rates? Going down and fuel going up. Makes for a dream combo for a price increase.
Can you say delusional?
Wait a year or two. It will recover. When you see fleet count decreasing, that is the time to jump in.
Personally I think Herb is a con man.
Volume is better. We should break 5 next week. No way to guess a bottom.
Watch the suezy rates. We are in pain. Question is how long.
Positive to see the price fall like this. Mean people are getting rational. A lot of money can be made here.
Oops. Today I lost my head a bit, did some emotional trades and didn't get out using my normal parameter. . Didn't loose much and ended up buying back at 6.66 and 6.55. They had a lot of volume and it showed on my one trade. I trade in 1,000 share lots and the one trade was filled in lots of 300, 500, 100 and 100.
Early this morning, I had a gut feeling that there was going to be some selling, a down day. I didn't expect as much drop as I ended up seeing. With the cost basis I have the future is that I will be holding on to old Herbs stock to see how it all works out.
But I looked at a long term graph and this stock has seen some rather fast Matterhorn type mountain peaks and then valleys.
Last week suezmax rates where only 11,900 on average