Genco Shipping & Trading Limited (GNK)
A New York City-based company that transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes.
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Cyclical action in an uncertain market in an adverse environment.
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I really like shipping industries. I just don't think that this one has got what it takes.
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dry bulk shipping
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Has cimbed too far too fast. Time for investors to take profits.
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I believe the entire dry bulk shipping sector is stratospherically overvalued. With more ships coming online everyday, I believe dry bulk shipping rates will fall.
I'm betting this is the next bubble.
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Good stock with poor short term outlook as recession woes take hold, also higher energy cost will drag for a while. Look for a buyin sometime in H2 '07.

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