My pick for investment focus in shipping stocks now, as opposed to only chart traders, is to focus on off shore service providers who have a strong book that is likely to be sustained even in recession. After that, if demand for oil seems it is going to pick back up with decent volume, the tankers might have some interest. For now, OPEC pulling back on the throttles again tomorrow will mean there is less oil to ship... and using oil tankers as crude storage containers isn't a high value gig for them... but that might take some capacity for a short time, until the supply cuts match demand. Dry bulk shippers you should look at later, while the ships are tied up at the docks rusting, when no one wants to buy a ship... and the debts owed for them are starting to really hurt... forcing fire sales.
For now, that narrow the entire universe to three:
ULTR, GLBL and TMM... in roughly that order.
ULTR services the ongoing development of new oil fields in off shore Brazil, which seems set to continue their book for at least a year or two as the recession unfolds.
GLBL... similar case if less specific elements in the demand.
TMM services off shore Mexico where there is a need for a lot of additional investment, but less certainty that the investment will happen, much less that it will happen in timely fashion...
Still, none of them are particularly timely picks... all three trading at the top of the bands.
