Quote:
Originally Posted by Buckhead
Reviewing their financial statements indicates net losses for 2019, 2018 and a very small profit in 2017. If freight rates normalize they are not going to be in good shape it appears. A lot of risk IMO.
|
Very true. But on the balance sheet, the company was completely transformed in 2020. Not sure if they bought/leased ships that went under due to covid or what.
But they have been very profitable since then.
I know absolutely nothing about shipping companies. But there will be a point where it’s undervalued compared to its stock price. I think we have crossed that line but I’m waiting for my fire sale price.
Looks like this company is the 10th largest shipping company in the world.
Interesting discussing it anyways.
Wish I could find its stock graph before 2021. Not sure why that data is not available.