Tuesday, January 21, 2014

The Genco Fleet


"Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Excluding Baltic Trading Limited’s fleet, we own a fleet of 53 vessels, consisting of 9 Capesize, 8 Panamax, 17 Supramax, 6 Handymax and 13 Handysize vessels, with an aggregate carrying capacity of approximately 3,812,000 dwt. In addition, our subsidiary Baltic Trading Limited, owns a fleet of 9 drybulk vessels, consisting of 2 Capesize, 4 Supramax, and 3 Handysize vessels."
The vessel maximum sizes are interesting. Here are the boxes that define the sizes of the Panamax, Suexmax, and so forth. The ships (of course) go almost all the way to the maximum: like this vessel in a Panama lock, or the USS Missouri here in the Miraflores Locks.


Stagflationary Mark said...

Fascinating picture of the USS Missouri! They really squeezed it in there.

I actually took a tour of that ship when it was here in Bremerton (WA) when I was a kid (my dad served on the USS North Carolina in WWII).

theyenguy said...

The Chart of Shipping Stocks, SEA, rising from 14.50 to 22.00, together with Greece, GREK, and the National Bank of Greece, NBG, communicates the tremendous leverage that came through both currency carry trade investing, and debt trade investing, at the end of the paradigm and age of liberalism, as investors acted in euphoric manner to drive up risk assets of all sorts, acting in liberalism's dynamos of creditism, corporatism, globalism, and clientelism. Now, authoritarianism coming on the failure of fiat money, features the singular dynamo of regionalism.

One can follow the tremendous unwinding of tail risk from the crack up boom in fiat wealth investments by using this Finviz Screner of highly leverage shipping stocks.

The chart of Tsakos Energy Navigation, TNP, shows a parabolic rise in value; it is a debt trade investment leader with a debt to equity ratio of 1.48. Investors in such behemoths are like the wooly mammoth of prehistoric times who were caught in an extinction event and were literally frozen in place by catastrophic storms.

The chart of Genco Shipping, GNK, shows that this shipper has not been one of the debt trade and currency carry darlings.

The Shipping Industry, SEA, with a PE of 11, as well as the nation of Greece, GREK, where many shippers are based, is going to be very much an epicenter of chaos and conflict, as liberalism’s twin sources of investment liquidity have been turned off, as risk appetite turns to risk avoidance. Greece, GREK, and the National Bank of Greece, NBG, are currently seeing strong investment derisking and deleveraging. Many of the ships in operation today will be taken out of operation, as the bond vigilantes and currency traders have commission under economic destructionism to fully engage in debt deflation and competitive currency devaluation.

Under the rule of the libertarian despised Creature from Jekyll Island, mankind experienced the Means of Economic Inflationism, that is the Benchmark Interest Rate, $TNX, driving inflation in both fiat money, defined as Aggregate Credit, AGG, coupled with Major World Currencies, DBV, and Emerging Market Currencies, CEW, as well as fiat wealth, defined as World Stocks, VT, Nation Investment, EFA, and Global Financials, IXG, ever higher.

But when the bond vigilantes gained control of the US Ten Year Note, ^TNX, calling it higher from 2.48, on October 23, 2013, fiat money died in deflationary extinction event, that forced AGG, DBV, and CEW lower.

Soon, very soon, fiat money, will die as investors derisk out of debt trade investments,and deleverage out of currency carry trade investments, forcing VT, EFA, and IXG, in another deflationary extinction event.

At that time the world will fully pivot from the paradigm and age of liberalism, into that of authoritarianism, which will be an universe and epoch of economic deflation and economic recession; the likes of which the world has never seen, but which is clearly communicated in Bible prophecy of Revelation 13:3-4.

CP said...

Good one to follow:


Not all dry bulk shippers though.