Wow. The market frenzy has not fully reached out for the dry bulk shipping yet. Even though it looks like it has it surely hasnt yet. To illustrate this Jinhui can easily be used as a prime example. To valuate Jinhui is easy. P/B 0,37 Loan to value ratio about 40% Sadly no dividents at the moment, but this will most likely come. Only once share issue. And also need to mention the elephant in the room, Supramax rate on Baltic Dry around 22.000 USD a day. Sure, Jinhui may not be a victim of these rates, because the fleet is old. But wait, the price on older vessels are actually the ones booming the most. Even if it looks like Jinhui has moved a lot lately, believe me, it has not, compared to potential. This chart is what I believe. Please do research. I will not post this as a long because I can not understand why the price action has been like this. But honestly maybe it has to do with the economic tabloids, and I believe the new buyers do not represent a whole lot of masterminds doing thorough research on the should be price vs could be price on a share. Please let this be start of the next supercycle, it sure looks like that. Ps. Zoom out, check valuation pre-covid and compare with vessel rates and do the same about todays price. Interesting, right?
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Also interesting for comparison from 20 sept, 2019:
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And from august 2014:
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So what do you think guys, is this Jin on repeat? I hope so, balls deep in this.
GL happy trading
GL happy trading
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And last one ...