- Company reports strong Q3 results and provides decent outlook for Q4. Even the seasonally weak first quarter appears to be well hedged already.
- A host of China-related issues has caused the Baltic Capesize Index to slump approximately 70% from recent highs thus erasing virtually all of its third quarter gains.
- Recent sell-off has resulted in shares trading at an approximately 50% discount to estimated net asset value.
- On the conference call, management hinted to near-term share buyback activity and stated its intent to introduce a dividend policy in the not-too-distant future.
- Speculative market participants willing to closely monitor movements in capesize charter rates should consider scaling into the shares at current levels.
For further details see:
Seanergy Maritime - Cheap Capesize Pure Play Appears Well Hedged Going Into An Anticipated Weak Q1 - Buy