Globus Maritime Limited (GLBS)

[Longer Than Most]

Because the 2008 recession hit while the global economy was booming. China had A LOT of ships being built to accommodate the ever growing global trade. Then the recession hit, and year after year more ships were completed and competing for shipments. It drove prices down and made the shipping sector incredibly for any company involved. The BDI needs to be at 1300 in order for companies to turn a profit, and it was below 1300 for a couple years. That’s why shippers look horrible but it’s also why I am long shippers. Ships are no longer being built at the same rate and the equilibrium of ships to shipments is slowly being restored