HLAGF - J Mintzmyer's Note Of Caution On Shipping
2024-05-21 08:30:00 ET
Summary
- Shipping disruptions in the Red Sea have led to increased shipping rates in container ships, oil tankers, and dry bulk.
- Container ships are the most affected trade, followed by oil tankers.
- Valuation metrics like price-to-book should not be used for shipping stocks; price-to-NAV is a more accurate metric.
Listen here or on the go via Apple Podcasts and Spotify
Shipping expert J Mintzmyer talks geopolitical volatility and shipping disruptions (1:00). Most affected trade by far is container ships (2:40). ZIM, Danaos, and Global Ship Lease (5:10). Tankers' great year; still long Tsakos (6:40). How to think about an average shipping portfolio (10:00). Biggest things impacting volatility are inflation, what the Fed's going to do and China (15:50). Valuation metrics to (not) use for shipping stocks (23:55).
Transcript
Rena Sherbill: J Mintzmyer , a man who should need no introduction to investors, especially those looking at the shipping sector, but shipping expert extraordinaire, J Mintzmyer, thanks for coming back on the show.
J Mintzmyer: Yeah, absolutely. Thanks for having me back. There's just been so many things happening in shipping over the last couple of years and especially the last few months, and I'm excited to talk about it.
RS : Yes. So many things happening in shipping and it's hard to keep up sometimes. So, happy to have you on. You run an Investing Group on Seeking Alpha called Value Investor's Edge , where you talk more in-depth about shipping.
And you've been on the podcast before , most recently talking about the disruptions in the Red Sea and how we should be navigating the shipping space. Here we are in the middle of May, how are you looking at things and understanding things these days?...
J Mintzmyer's Note Of Caution On Shipping