So SEA has been revived.Its current top 10:http://finance.yahoo.com/q/hl?s=SEA+HoldingsSorting on % basis1. Euronav 2. TGP 3. TNK 4. OSG5. SSW6. SFL7. NMM8. GMR9. Cosco, DS NordenQuite interesting1. NMM is the only pure-play Dry bulk idea in the top 10 (Ok, both #9's have major Dry bulk fleets)2. #1 thru #4, #6, #8 means tanker companies are well represented3. Just a guess, the ETF was put together with 3 levels. Say 10 4% stakes, 10 3.5% stakes, 10 2.5% stakes. The ideas will get shuffled, and there might be a +/- to a position depending on how that stock is behaving.4. I wonder if they will have a dividend? I think the high dividend initially hurt the previousSEA version.5. GMR in the top 10 is a surprise. Didn't the fleet expansion give them pause? --The GMR fleet expansion news is now being discussed by the company. They've put a betternumber, $620M, on the deal. I'm guessing company mgmt is basing raising capital on thesuccess of the BALT IPO (also a Georgiopolous entity). The company announced 60% financing,http://finance.yahoo.com/news/General-Maritime-to-add-7-apf-...GMR still have to come up with the 40%, or ~$250M. Putting that in some context- GMR's market cap is $458M, revenue $356M (TTM), Book value ~$6/sh, and has existing debt of $1B.IMO, even with the tanker cos. run-up in the last 5-6 months, much better ideas than GMR in the crude tanker space currently.
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