October 17, 2007
– Comments (3)
Are there any shipping companies that aren't headquartered in Greece? Just curious.
There are a few Pirarues or however it's spelled has been a large shipping area in Greece for a long time and they have been able to capitalize because of the strategic position. There's a website devoted strictly to shipping companies not sure of the exact website it's something like championshippingstocks.com or something like that. But the Baltic Shipping Indice is the major shipping indici particualrly for Dry Bulk which is majorly Greek. Also containers Danaos (DAC) is a greek company. Now this is just my opinion but the best Shipping Companies are all Greek DSX, DRYS, NM, QMAR and EXM. In addition to SSW, TNP and others.
NAT and HRZ are both not in Greece. TDW is a tanker out of Lousianna. TBSI and GNK are two other plays not in the exploding Greek Economy I think are possibly the best. I also remeber coming across one in the Marshall Islands that I think looked goood but I can't remember the name right now. General Maritime is another out of New York. TRMD pays a huge dividend out of Denmark. But the problem with a lot of the non-Greek plays is they just aren't growing and if they are it pails in comparison to some of the more effective Greek Shipping companies. If your trying to make a play in Greece on Shipping I would do a lot of research it took me quite some time before I settled on DSX which I think has more upside at this point than say DRYS. QMAR is another great company but was up 10% today when I was looking for something to buy and I didn't want to buy in to that big of a jump.
In my opinion stick to Dry Bulk look at DRYS, QMAR, NM, DSX, TBSI and FRO if you want non Greek the GMR as well as the one out of the Marshall Islands looked good to me but I wanted to Greek to also play against a weeker dollar in comparison to the Euro. The postives not going Greek well look at the tag 222% largely led by DRYS, NM and DSX, but say Marshall Islands stock as I'll call it for now has not been as realized thus you could see more upside. Look for something that the institutions aren't already locked on to, the Insiders are buying and have a good RA.
Can you explain to me why you like DRYS though everyone else on CAPS has been down on it since a 500% gain ago? Also, the Greek drybulk shippers you listed as ones you like did not include ESEA, which I'm pretty sure is Greek drybulk. Do you think it's not a good company? I am particularly interested because I own it with real money.
Thanks for your comment.
There's alot of them I didn't include ESEA because I was rattling them off the top of my head. I forgot that I had looked into that one personally I own DSX. ESEA trades with a P/E of 11 which is very good and PEG of .78 also good in a heavy growth industry. They are a younger company so I'm just going to assume that they have a younger fleet then some of their other competitors this is a huge plus. I'm not an expert on Shipping, so I don't know how much I can say about it. High Insider and Low Institutional Ownership I do think ESEA is a good company and they got the 4.5% dividend.
DRYS, for me I learned my lesson, it is my worst pick at -117, don't go against a hot sector. I personally don't think it's going to fall as hard as the rest of the fools do, whom most I think are probably red thumbing more on gut of holy shit I hated this company and it burnt me for negative 500, well you know what fools in hind sight we were wrong, the stock traded with a P/E of 2 and not to throw anyone under the train but I think a lot of us were simply following some Top Fools that's where I got the idea from looked into it and it sounded fishy.
Valuation for DRYS is not off by too much maybe a little high in comparison to the Industry as far as P/E and then figure in the dividen is lower than most of the shippers. But I'm not convinced it will fall. 2011 maybe but until the USA starts improving and that money comes out of the BRICs and Greece and other countries they will continue to soar. There is only X amount of money in the world, and people wnat the best returns until theres a bottom in housing I think we should continue to see one hell of a bull run in China including DRYS. If it hits 200 then I think the red is justified until then I think it's mostly emotion and hatred from all the fools who got burnt.For me I look back at DRYS and say goddamn I looked at that company at 17 and now it's a 10 Bagger. That would be college for a year.