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SBLK - Seanergy Maritime - Stock Craters After Capital Raise - Why I Bought The Drop
Star Bulk Carriers Corp.
Small, Greece-based drybulk carrier Seanergy Maritime (NASDAQ:SHIP) has been experiencing tough times as of late. As a highly leveraged capesize pureplay with its vessels mostly trading in the spot markets, fallout from the recent Vale S.A. (VALE) dam incident in Brazil will likely be hitting the company hard in the first half of 2019.
Despite the current challenges, management offered some reassuring comments in the company's recently published Q4/2018 report:
In the beginning of 2019 we have experienced a sharp drop in the market that was driven primarily by the