With the BDI sinking amidst a worsening situation of overcapacity and economic malaise in Europe, the rally in Courage Marine's share price provided a chance for me to cut my long exposure with minimal losses.
We are also blessed to have an industry insider, Jason, amongst the regular readers of ASSI and if the evidence provided is anything to go by, the bleak situation for bulk carriers looks
Showing posts with label Courage Marine. Show all posts
Showing posts with label Courage Marine. Show all posts
Thursday, February 2, 2012
Tuesday, January 17, 2012
Courage Marine: BDI plunging.
Yesterday's Business Times reported that the Baltic Dry Index (BDI) fell to an 11 month low. Today, it fell another 3.799% to 1,013.
The decline is attributed to a worsening glut of ships. Rates are now below operating costs in the Pacific Ocean.
Capesizes, the largest dry bulk carriers cost US$7,437 a day to operate (excluding fuel). However, rates on round trip voyages in the Pacific fell
The decline is attributed to a worsening glut of ships. Rates are now below operating costs in the Pacific Ocean.
Capesizes, the largest dry bulk carriers cost US$7,437 a day to operate (excluding fuel). However, rates on round trip voyages in the Pacific fell
Tuesday, October 11, 2011
Courage Marine: Bought more at 10c per share.
For a while, it looked as if a double top was forming in the Baltic Dry Index (BDI). Well, the potential double top formation has been negated as the BDI broke resistance and looks set to form a higher high.
As most of Courage Marine's business is on a per trip basis and at spot rate, a higher BDI is good news for the company. If the BDI continues to rise into winter, it could turn out to be
As most of Courage Marine's business is on a per trip basis and at spot rate, a higher BDI is good news for the company. If the BDI continues to rise into winter, it could turn out to be
Saturday, September 24, 2011
Double dip recession or just very slow growth?
Stock markets around the world had a very bad week. Everyone it seems is expecting a global recession and the accompanying deflation.
In a truly deflationary environment, all assets will suffer and see their prices fall. Equities and precious metals were all sold down across the board, therefore.
However, reading an article in Bloomberg, it is interesting to note that in the USA, "railroads
In a truly deflationary environment, all assets will suffer and see their prices fall. Equities and precious metals were all sold down across the board, therefore.
However, reading an article in Bloomberg, it is interesting to note that in the USA, "railroads
Sunday, September 4, 2011
Courage Marine: Added at 10.5c a share.
It has been some time since I wrote about Courage Marine. With the BDI in a downtrend, there was no reason to go long on this counter. The last time I did something pertaining to this counter was a divestment when news of a dual listing in Hong Kong was made known.
However, as I like the company, I have been tracking its performance which is of course closely tied to the BDI as most of its
However, as I like the company, I have been tracking its performance which is of course closely tied to the BDI as most of its
Tuesday, May 3, 2011
Courage Marine: Profit warning.
Courage Marine's management issued a profit warning, expecting 1Q 2011 to turn in a loss: "The Board of Directors of the Company wishes to inform Shareholders that, despite efforts by the Group to secure deployment of its fleet, fleet utilisation was low during the first quarter of 2011. The Chinese New Year holidays in February resulted in a decrease in our fleet utilisation over the period. In
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