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S&P 500: 1,340.35 Change: -0.84%
SoKorScout
P&P Score: 33.04 | Points: 0.00 | Accuracy: 30.00 | Average Pick Score: 0.00   Annual Return: N/A  
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BUY: EAGLE BULK SHIPPING INC. (EGLE) Rating: 3
Start Price: $7.35
Points: -120.17
Created: 01/02/2009
EGLE is a dry bulk shipping firm, small in size, but has been finding its niche in that industry...though times for that segment of the water transportation industry has been tenuous of late, I am betting the the infrastruction boom will stimulate opportunities for stable firms in the sector. EGLE ships food grains, metal ore & products, building materials, fertilizers, liquid non-fuels, as well as drygoods...and need I remind, it rewards its investors with a nice dividend...

1 Comment(s):

Author SoKorScout     Date 2010-01-04 22:00:42
I did own EGLE, a real favorite of mine, but dropped it when it cut its dividend (I did say cut)...as for the shipping industry as a whole is concerned..the dark clouds will linger -- remember when things were going great guns before our short recession of the recent past? Well, that same recession demolished the shipping industry and recovery may be further off than you may think, as there is certainly an oversupply of ships now and many, many more on order to be built in shipyards the world over. I kept two shipping stocks of my 8 shipping stock portfolio, SFL and NAT...but got rid of NAT after it dropped its dividend down significantly...SFL is now at $1.00 a share. I'll keep as long as it holds its div. But from the looks of things, even among the shippers themselves, we will be waiting awhile before the light shines as bright as it did in the first two qtrs of 2008.
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