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GM Speckies Trader. Now I noticed that you have here a board for the "crème de la crème" of the stocks - best stocks in their sector. Actually, everybody should have noticed it in today's stock market - buy the best stocks only! Look at Apple, Google, Baidu, DryShips. Then why don't we buy only the best? - don't ask me. lol.
I am no expert of shipping sector or the whole marine industry, but I have been long invested in it and have followed it over twenty years. I bought Frontline when it was in $6-12 range, Golden Ocean when it was $0.50 and Jinhui Shipping at $11.00.
Another sector I'm interested and invested in is offshore oil drilling.
Nice to see that you are interested in shipping too and contribute to the Tanker&Bulker board. I think it is wise to try to collect information of one special sector in one place, where it is easy to find. I was wondering long time why IHub did not have a board for shipping industry. Now we have it. Good.
English is not my native language so please pardon me my clumsy wordings. I hope you can understand my thoughts.
Thanks Speckies Trader! This is just what we need here: information about the shipping business and about the companies in it. Everybody can then make his/her own decisions what is best for him/her.
It is essential to know some fundamentals of stocks in such a seasonally volatile industry as shipping is. Look at DRYS: those who knew its small O/S and knew what spot market is, undestood that DRYS will fly high.
If that oil shale story I posted earlier (800 billion barrels in USA!!) proves to be true or if oil slumps for some other reason here's a contrarian oil stock:
UltraShort Oil&Gas ProShares (DUG 40.51)
See the link. There are a couple of other contrarian stocks too
http://biz.yahoo.com/prnews/071102/nyf073.html?.v=93
GM Stuffit. We are now back to basics! Sun is shining here and yesterday's snowfall was peanuts.
List of shipping companies with some key fundamental information. Shipping fans LOOK AT THIS:
http://biz.yahoo.com/p/775pr1d.html
Hello AD. I know the copied and pasted links do not always work. For some reasons they do not work same way on various computers. Wipe off all the extra after .com from the url, and keep just the homepage url.
For example: open link
http://www.newportcorp.com/page_shipping...
wipe out everything after .com in the address field, click and you will come to Newport's homepage, where you will find links to go forward. Click: "The Port of Newcastle"- "Shipping"- "Shipping Movements". Bookmark the site you want to your own computer.
"The Weekly Operations Report" will show how many ships were treated during the week and how many are in line waiting to load.
Sometimes I have used Google, if a link does not open on my computer. I just write the homepage address.
Hope this helps.
Oil shale. Here's a good description of oil shales:
Oil shale may finally have its moment
Posted: November 2, 2007
Section:
Jon Birger, November 1 2007, Fortune Magazine -- Touring a drilling site on a dusty mountain plateau above Rifle, Colo., Harold Vinegar stops, grins and then announces out of the blue, "I love that smell!"
No, the Royal Dutch Shell chief scientist is not referring to the crisp fragrance of the high desert air or the conifer scent wafting from the nearby stand of evergreens. Rather, it's the faint, asphalt-like aroma of oil shale - a sedimentary rock rich in kerogen, a fossil fuel that is now the focus of Shell's single biggest R&D investment.
Vinegar is the energy industry's leading expert on the complex petroscience of transforming solid oil shale into synthetic crude - a liquid fuel that can be refined into diesel and gasoline. The breakthroughs this 58-year-old physicist has achieved could turn out to be the biggest game changer the American oil industry has seen since crude was discovered near Alaska's Prudhoe Bay in 1968.
If that sounds like hyperbole, then consider this: Several hundred feet below where Vinegar is strolling lies the Green River Formation, arguably the largest unconventional oil reserve on the planet. ("Unconventional oil" encompasses oil shale, Canadian tar sands, and the extra-heavy oils of Venezuela - essentially, anything that is not just pumped to the surface.)
Spanning some 17,000 square miles across parts of Colorado, Utah and Wyoming, this underground lakebed holds at least 800 billion barrels of recoverable oil. That's triple the reserves of Saudi Arabia.
The whole story:
http://www.tarsandswatch.org/oil-shale-may-finally-have-its-moment
Oil sands. Connacher (CLL.TO C$3.97) is starting to produce bitumen 10.000 barrels/day from their lease Great Divide in Alberta. They use the SAGD -method, and it takes 90 days to warm up the ground to extract the bitumen, so the production should begin in December. Interesting to see how they will be going forward from here.
Connacher Begins Steam Injection at Great Divide Pod One Oil Sands Project
Connacher Oil & Gas Limited 9/18/2007
URL: http://www.rigzone.com/news/article.asp?a_id=50343
Connacher Oil and Gas Limited began sequential injection of steam into fifteen steam-assisted gravity drainage ("SAGD") well pairs at Great Divide Pod One. This is Connacher’s first 10,000 bpd oil sands project and is located 50 miles south of Fort McMurray, Alberta.
The company completed the processing and steam generating plant in 30 days without complications. Concurrently, fifteen SAGD well pairs were prepared to accept steam and circulation of steam in the injector while producer well bores are underway. Connacher will steam the wells for ninety days prior to the startup of production. The steam process will be monitored on each well to determine the optimum startup date.
"This is a defining moment for Connacher," said Richard Gusella, President and Chief Executive Officer. "With the startup of steaming, we have fulfilled our undertaking to our shareholders, lenders and other stakeholders. In less than four years, a very short period of time for the oil sands, we transformed undeveloped acreage into an operating facility that should shortly see ramped up production, resulting in significant growth to our revenue, cash flow and earnings. We are already looking ahead to our second 10,000 barrels per day oil sands project at Algar (the "Algar Project"), which awaits regulatory approval. We will continue to systematically evaluate our considerable, well-positioned acreage in the Divide region which we believe can provide the basis for sustained and considerable future growth for our company."
Peter Sametz, Executive Vice President and Chief Operating Officer, stated "We are rightly proud of our accomplishment with the startup of steaming at Great Divide Pod One. Congratulations are extended to our management and staff, our consultants, advisors and staff who comprised the construction and commissioning team, to the service sector and to the trades who supported our initiatives. Our state of the art facility can process bitumen, generate steam, clean up and recycle water and house our permanent staff. It was constructed and placed in operation in record time and our next milestone will be to start producing bitumen for sale into the market. Thereafter, we hope to ramp up to capacity at 10,000 barrels per day as expeditiously as possible. This will result in long-life sustainable revenue and cash flow for Connacher, given our solid reserve backing. As the facility is turned over to our permanent operating personnel, we look forward to the future with confidence and with the expectation of a smooth transition from the construction phase."
Rowan Expands Rig Construction Program
Rowan Companies 11/1/2007
URL: http://www.rigzone.com/news/article.asp?a_id=52298
Rowan Companies has entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010. Rowan's total cost of each rig is expected to average approximately $175 million, with more than one-third of that amount attributable to the cost value of the design, kit components and drilling equipment to be provided by the Company's manufacturing businesses.
Rowan will also build two additional 240-C class jack-ups at its own Vicksburg, Mississippi shipyard for delivery in the third quarters of 2010 and 2011, at a total cost of approximately $400 million. The 240-C was designed to be a significant upgrade of the original 116-C class, which has been the "workhorse" of the global drilling industry since its introduction in the late 1970s. The Company's first two 240-C rigs are currently under construction at Vicksburg, with delivery expected in the third quarters of 2008 and 2009.
Danny McNease, Chairman and Chief Executive Officer, commented, "We have continued to experience unprecedented global demand for premium drilling equipment. Each of these new rigs will employ the latest technology to be able to efficiently drill high-pressure, high-temperature and extended-reach wells in just about every prominent jack-up market throughout the world. All six of these new rigs will be equipped to reach 35,000 feet.
"The construction contracts with Keppel AmFELS afford us the opportunity to accelerate the expansion of our offshore drilling business by partnering with a first class organization and shipyard. We will provide our innovative rig design and drilling equipment to this project in further testament to the synergies between our drilling and manufacturing divisions, resulting in an average $20 million cost savings per rig and a proportionately higher return on our investment."
The shipping industry is facing the same problem. Looks like the analysts are not taking this problem seriously, when they expect that there will be a massive oversupply of vessels. Crew of a modern ship must be rather highly skilled nowadays. The industry fears that the workers keep jumping to newer and more comfortable ships, and the old ones are left idle or must be driven to scrap yards.
Look what the greed of the Canadian authorities is causing in Alberta (hope they are wiser in Saskatchevan):
Canadian Natural Makes Drastic Cut
by Rigzone Staff
Rigzone 11/1/2007
URL: http://www.rigzone.com/news/article.asp?a_id=52349
Citing the new royalty system in Alberta, Canadian Natural Resources announces it will slash its exploration in the area.
"Our defined plan will be optimized to take into account the new royalty program that was announced by the Government of Alberta on October 25th and expected to take effect in 2009," said Canadian Natrual Chairman Allan Markin in a statement.
"The new royalty program will have a negative impact, which we are still attempting to fully define, on our development plans in 2008 and in the future," Markin continued. "As a result, we will carefully adjust our activity to ensure we are maximizing returns for our shareholders."
The company expects the royalty changes to impact the natural gas sector of its exploration and production the most and has adjusted its development plans in 2008 to reflect that.
Canadian Natural stated that it will cut by as much as 50% the number of Alberta gas wells it would have drilled in 2008 and years beyond had the royalties not changed.
"Right now we're in the process of fine-tuning the budget and high-grading all our gas prospects and oil prospects and deciding where we're going to allocate the capital," Canadian Natural President and COO Steve Laut said, according to Reuters. "Obviously with the royalty program, it has made a lot of our gas program uneconomic, particularly at these price levels."
The company's 2007 third quarter net earnings fell 37% from the same period last year to C $700 million.
Ogling Transocean
By Toby Shute November 2, 2007 Comments (0)
4 Recommendations
Once again it's time to check in on Transocean (NYSE: RIG), the doyen of the deepwater. As with bride-to-be GlobalSantaFe (NYSE: GSF), Transocean's dramatic results did not disappoint.
Revenues for the quarter were up 7% sequentially, even though utilization eased a smidge. Results left last year's figures in the dust, thanks to 50% higher dayrates. Operating income nearly doubled, and net income more than tripled, due to benefits from Hercules Offshore's (NYSE: HERO) buyout of TODCO, along with some other non-operating goodies.
High dayrates are great and all, but last quarter's rates, or even today's rates, don't tell you a lot about tomorrow. Rates go up, until they don't. That's why it's critical to keep an eye on contract backlog. Let's look at the growth in backlog over the past few quarters.
Q4 2006 $20.8 billion
Q1 2007 $21 billion
Q2 2007 $21.4 billion
Q3 2007 $22.9 billion
Data provided by Transocean.
Do you see what I see? Backlog isn't just growing -- it's accelerating. The end of the second quarter saw backlog up $400 million. This quarter, jackup backlog alone was jacked up by that much. Yes, shallow, unloved jackups -- the ones that make Wall Streeters squirm. Actually, the undulating jackup market has also made Transocean's CEO uneasy for two years running. It's nice to see him readily admit he's been wrong.
Transocean has done a bang-up job on backlog, but is the stock a buy? Maybe, but you have to wonder what insight you have at this point that other investors are missing. Back in May, I noted a fair amount of market skepticism, but that was around $90 a share. Now, everyone's transfixed with Transocean.
If you seek to invest like a business owner, rather than that guy who put a rattlesnake in his mouth, I happen to think that margin mavens Ensco International (NYSE: ESV) and Noble (NYSE: NE) are most deserving of your drilling dollars.
OILRIGS. Baker Hughes keeps a weekly record of the drilling rigs in use in USA and Canada, and publishes it on Fridays. A more detailed report can be seen on their website, but nowadays you have to register to get it. To those interested in oil drilling it is a very usefull information.
Deep sea drillers (RIG NE PDE DO RDC GSF) make money now. Long contracts (3-4 years)for semisubmersibles at enormous prices $400.000 - $550.000 per day (a couple of years ago it was a sensation to get $150.000/day for a subsemi). Newest contracts for jack-ups $175.000 - $200.000/day (used to be ca $50.000).
Competition for deep sea drillers is heating up. Norwegian drillers (Smedvik, Stolt Offshore, Awilco, FOE, Seadrill) have been very active in Asia, Africa and the Arctic regions.
Land drillers (NBR PTEN RDC PDC) have been complaining about overcapacity, especially in Canada. It seems though that Canada is cheering up. Oil sands explorers keep adding rigs, and drilling for natural gas is expanding.
Follow the sector and crab the possible dibs.
Oil and Gas Rig Count Rises
Friday November 2, 2:28 pm ET
U.S. Weekly Oil and Gas Rig Count Up 35
HOUSTON (AP) -- The number of rigs actively exploring for oil and natural gas in the United States rose this week by 35 to 1,795.
Of the rigs running nationwide, 1,455 were exploring for natural gas and 335 for oil, Houston-based Baker Hughes Inc. reported Friday. Five were listed as miscellaneous.
A year ago, the rig count stood at 1,739.
Of the major oil- and gas-producing states, Texas gained 26 rigs, Louisiana nine, Oklahoma five, Colorado four, Wyoming three and Alaska one. New Mexico lost five rigs.
Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted several record lows in 1999, bottoming out at 488.
Oh my. Is it that Noel heading to NS? Can it go so north?
Well. why not. One time I was in New York a hurricane warning came, and the whole town was stopped. Shools were closed, metro stopped and people left their jobs. I was just going to MOMA, and they closed it in front of my nose. All I saw from MOMA that time was their telephone booths and toilets...lol
I don't like the snow here this early because it's pure slush. The real winter comes usually in December in Helsinki. Fortunately the meteorologists say this is temporary.
Good Morning to you Stuffit, despite it is SNOWING here :(
Are you coming back to winter time this weekend? We moved to winter time last weekend, and therefore this week was easy to follow BQI's closing price, when the market closed at 10pm our time. Next week I have again try to keep awake up till 11pm. Oh well. Many times I do not succeed...
You know Mr. Market. If BQI misses its estimate of 1.5 billion barrels and declares 1.49 billion, Mr. Market will be very very very disappointed... and you get cheap shares.
Evidently Aletheia Research has more confidence in the company, when they bought 17.8 million shares lately (Sept. 30). They certainly must have done some DD...
Somebody bought 286.600 shares at $6.65 AH. Must be a poor short seller.
O/S 186 million according to Nasdaq.
Better to stick to BQI. They have no revenues to bluff us, and the Wall Street analysts do not estimate their resources... lol
Of course. That's the name of the game. Better to read only the SEC filings. Or is it? Didn't SEC read Enron's filing many years and accepted? The bluff came out from quite different sources.
They got scared when they had to testimony before the Congress last winter where they are putting their profits and what were they doing to prevent the looming energy crisis. The congress was thinking to tax their profits a little harder. No wonder that the big oil companies got scared: it's not proper to show so much profit. - They've been thinking..
I think BQI has been traded in this $4-$5 range on base their proven resources, which were confirmed last autumn. I don't remember exact number, but it was in millions. Now if they confirm 1,5 billion barrels of bitumen more, we can move on the next level. I remember that one barrel was estimated worth ca $0,60 (what was oil price in september 2006?). Maybe the estimate is higher now with oil at $90.
Canada has much gold and very much uranium. Some people say that also BQI will evidently bump into uranium some place in that vast area of their land holdings.
BQI. Closed HOD 6.38. Shares traded at 6.65 AH. Something must be brewing.
Well, I can trade Canadian stocks from my broker account here (Nordnet). I sold my CANROYs last spring in NYSE and bought them back in Toronto to get them in Canadian dollars. I have only BQI now in USA (and my fabulous daytrades now and then. No laughing, please)
Oilsand stocks may really be good stocks to own. These companies own the oil they sell, and are not dependent on something else.
Have you found other oilsands stocks to follow? How are they trading? Any volume?
I have not followed UTS or CLL lately, but I know they have potential.
BQI. Here's a good link, where you can see Oilsand Ques's reserves - compared to other oilsands companies' reserves. They bought the reservation - when nobody cared about Saskatchewan resources - with ca. USD 60.000. Look what Suncor, Encana, Shell, Exxon, Syncore etc. own.
The green square in the middle of BQI's lands is the township, which is now supposed to be bought by Petrobank (with its THAI-method). This is NOT confirmed.
Look at the left upper corner - there is their lease Eagle's Nest 22.700 acres. The Pasquia Hill oil shale - 489.600 acres - does not show on the map. It is in eastern part of Saskatchevan.
http://www.oilsandsquest.com/maps/BQI_map_SK_oilsands_20-08-07.pdf
Yep yep yep! Remember also the poison pill: if somebody tries a hostile takeover in this exploration phase, they have to pay $20/share to shareholders.
When BQI set this poison pill, I thought they must know that the stock is worth it.
BQI. More oilsands stocks to watch: Goldnev Resources (GNZ.V 0.195 CAD)
Saskatchevan is beginning to attract more and more oilsands/oilshale explorers.
This one has been drilling in Pasqua Hills, where BQI has a big lease too. Bqi has not done much in Pasqua Hills, simply because they do not have enough resources to work in several places. Good to see that someone is exploring there - the results ( if good!) will benefit BQI too.
BTW. Oil shale is a bit different than oilsands, and as far as I know there is a big oil shale (not oilsands) area in USA, too (Texas??). Do you know about it?
BQI is mentioned in the last paragraph:
Thursday October 25, 10:29 am ET
CALGARY, ALBERTA--(Marketwire - Oct. 25, 2007) - Mr. Marc Dame, President and CEO of Goldnev Resources Inc. ("Goldnev" or the "Corporation") (TSX VENTURE:GNZ - News), is pleased announce that the Corporation has completed the drilling of the first phase of its previously announced three core hole oil shale exploration and drilling program on its prospective oil shale permits in Pasquia Hills, Saskatchewan.
The three core holes were drilled across the Corporation's first of two oil shale permits which encompasse a total of 68,910 acres in order to provide a preliminary assessment, optimize information and begin to delineate the extent of prospective oil shale deposits on these permitted lands. Detailed geological logging of the cores from the three completed core holes was carried out and Goldnev has been informed by its on-site geologist that oil shale cores have been extracted and recovered from the White Speckled Shale of the late Cretaceous period, the target reservoir as result of the oil shale core hole drilling program.
The collected oil shale core samples were shipped and have been received by Core Labs of Calgary where the cores will be cut horizontally and an initial inspection and analysis will be conducted. This initial inspection and analysis will involve visually confirming the amount of meters of core recovered and making a preliminary analysis of hydrocarbon indicators which is expected to be completed in 10 days. Once the initial inspection and analysis is completed the cores will be prepared and shipped to UMA Engineering for more detailed laboratory analysis to determine qualitatively and quantitatively the hydrocarbon content and distribution of the oil shale cores. The results of the core hole drilling, geological logging and the initial inspection and analysis will be summarized and released within the next 14 days.
Goldnev's Pasquia Hills oil shale prospect is located and comprises of two oil shale permits totaling 155,443 acres (6 3/4 townships) of oil shale rights located in the Pasquia Hills oil shale region in east central Saskatchewan, nearby to the operations of several other petroleum resource companies actively developing oil shale projects in the area including those of Oilsands Quest and Outrider Energy. The oil shale deposits on the Corporation's permits are known to be underlain by oil shale kerogen formations, which are located near surface and can be observed on an outcrop adjacent to one of the drilled core holes and also on the banks of the Carrot River which crosses the Corporation's permitted lands.
About Goldnev
Goldnev Resources Inc. is a public energy company focused on conventional and unconventional oil & gas production with assets in northeastern British Columbia, north central Alberta and an oil shale development project in east central Saskatchewan. Goldnev shares trade on the TSX Venture Exchange under the symbol "GNZ"
Stock Lobster. I know two other small oilsands companies, which are traded only in Toronto (as far as I know):
Connacher Oil Gas Company (CLL.TO CAD4.00)
UTS Energy Corporation (UTS.TO CAD 6.09)
There are more of them, but many are small, one project companies. Should do more digging - there may be pearls in them. Hey, here's one:
Deep Well Oil & Gas (DWOG.PK USD 0.47)
They are drilling in Sawn Lake, Alberta, which is very rich in oilsands area. This can be worth doing some DD.
Then the big ones:
Suncor (SU USD 108.12) 2Q divy USD 0.095
Petro-Canada (PCZ USD 56.51) 3Q divy USD 0.13
Petrobank Energy & Com (PBG.TO CAD 50.33)
Canadian Natural Resources (CNQ USD 81.31) - pays a monthly divy CAD 0.085
Synenco - a private company, where BQI's Chris Hopkins was one of the grounders.
Here's what Wikipedia tells about THAI-extraction method:
Toe to Heel Air Injection (THAI)
This is a very new and experimental method that combines a vertical air injection well with a horizontal production well. The process ignites oil in the reservoir and creates a vertical wall of fire moving from the "toe" of the horizontal well toward the "heel", which burns the heavier oil components and drives the lighter components into the production well, where it is pumped out. In addition, the heat from the fire upgrades some of the heavy bitumen into lighter oil right in the formation. Historically fireflood projects have not worked out well because of difficulty in controlling the flame front and a propensity to set the producing wells on fire. However, some oil companies feel the THAI method will be more controllable and practical, and have the advantage of not requiring energy to create steam.
IVAN - they have a tested extraction method for oilsands too, haven't they? Have you any idea what was their clue?
I'm not so sure about the THAI-method, but I think it was that they use much less water than the other methods. I know I know .. should check before talk.
Let's see if this run holds.
Looks like big guys were buying. Institutional ownership is now at 36%.
BQI. This maybe the reason BQI has been on the move with volume:
"Saskatchewan Land Position Established
In addition, Petrobank has acquired a 23,040 acre Oil Sands Licence in Saskatchewan. The licence has a primary term of five years and forms the basis for a possible future expansion of the application of the THAI(TM) technology into an exciting new potential oils sands resource fairway. "
THAI(TM) is a new, efficient extraction method, which does not use much water to get oil out of oilsands.
What is Petrobank (THAI is their patented method) doing in Saskatchewan?? Is Petrobank the coming JV partner??
Waiting for the resource numbers.
Ok, it was Churchill - but many times those two have equally wise comments ... lol
If Canada is starting its take-off run - as it seems - it is much nicer to be a part of it, and not only follow it across the border. And when you are 90 you need not think "Why didn't I do it?"
When the tide turns, you can always go back. Can you have a double citizenship?
GM. Maybe it was not you, who said it loud and clear, but I have a feeling that's the way you are thinking too...
Pardon me if I'm presenting wrong ideas in you name :)
GM Stock Lobster. I'm reading you are considering to stay in Canada for a while. From this side of pond, that sounds a very reasonable thing to do now. As someone on the board said (was it Stuffit??) "USA will always do the right thing - after having tried everything else". I'm in for that, only how long it will take this time?
But while waiting the right thing to happen you can spend nice time in Canada, when you have possibility to do so. I am sure Ash will find a job, with her knowledge and abilities. Canada needs her now.
Did they say when Global Ship will be listed?
GM. Not much effect on profitability, but on NAV (Net Asset Value). It's good to know the company owns something else than the shipping contracts.
I looked at their 3Q presentation. At the moment, of 71 ships they own 30, and have purchase options for 9 vessels. Sounds good.
Vessel utilization 99.99%! Daily operational costs per owned vessel $3.801.
O/S 100.55M, float 74.06M (Yahoo).
3Q results from yesterday:
Bulkers:
Genco Shipping(GNK 71.89) EPS 0.64 NET 16.3M REV 46M DIV 0.66
Tankers:
Teekay Shipping (TK 55.95) EPS 0.23 NET 17M REV 135M DIV 1.05
General Maritime (GMR 28.18) EPS 0.35 NET 10.9M REV 56M DIV 0.50
LNG Carriers:
Teekay LNG Partners (TGP 33.30) NETloss 17M REV 63.4M DIV 0.53
Offshore drillers:
Transocean (RIG 119.37) EPS 3.24 NET 973M REV 1.54B DIV later
Global SantaFe (GSF 81.03) EPS 1.96 NET 449M REV 1.2B DIV later
Oct 25, 2007
Diamond Offshore (DO 113.23) EPS 1.48 NET 205M REV 644M DIV 1.37
Welcome aboard Speckies Trader. Good to have more people here to bring information and discuss the stocks. Tell us why do you like Navios Maritime (NM $18.07)? How much (%) do they own of their fleet? I remember they have a quite big fleet.
Welcome aboard Earlylight! The purpose is to gather information about the shipping industry in one place and get the opinions of all people, who are interested in and follow the sector. Please post your information and opinions. It is very useful to all of us, who want to learn more about shipping. Spread the word!
Yes, the name of the board may be a long one, but it very well describes the subject of the board: Learn to know why the floating industry has also floating stocks! lol