Hey Hohum,this is for you. There is a section that talks about shipping bonds.http://www.testosteronepit.com/home/2013/3/28/wall-street-cr...Thank you for sharing your insights into the shipping industry.
Hi coolprash,Thanks for the link. Many of the points were not really too surprising.1. I haven't had a dry bulk position in about 9 months mainly because I noted to myselfthat just about all the dry bulk shippers have debt loads that simply cannot be supportedby their existing revenue streams (exceptions might be DSX and NMM). Yet, quite a few areable to kludge together some type of deferment, or a stay from default (GNK, SBLK, EXM asthree examples)2. The Q4 2012 SFL earnings call shed some light on the containership fleet glut. SFLmanagement suggested that container vessels are readily available (from those failed Germandeals)3. Certainly a lot of private equity involvement in shipping in recent years e.g. Wilbur Ross,Blackstone, Oaktree Capital, Anchorage Capital, etc.
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