Seanergy Maritime Holdings Corp. (SHIP)

[TheInvisibleHand ™]

SHIP'S Current EPS of 1.00 Warrants a 10+ stock price IMO if the market would stop smoking crack! They earned a 1.00 eps in the roughest of times, and this before they added to the fleet. They are profitable and the coming quarters will only be better, the problem is not SHIP. The problem is the market not pricing things to the fundamentals, but that wont last forever. Eventually the stock price will have to play catch up. They have huge cash position, and only 60 mil os. Imo this is the best shipper to play


A 10 pe should be a conservative evaluation in normal times, it trades under 2 pe right now. The fleet has increased going forward should = more $$$$$$

SOME HIGHLIGHTS http://finance.yahoo.com/news/Seanergy-Maritime-Holdings-iw-1417124299.html?x=0&.v=1

"We are pleased to announce the completion of the MCS acquisition on schedule. We view this as a strategic and transformational acquisition for Seanergy. It increases our controlled fleet to the significant size of 20 vessels while decreasing the average fleet age, and we believe it expands our revenue and profit generation capacity"


"Freight rates continue to remain firm despite an uncertain market place. Currently, congestion at iron ore and coal ports is increasing due to Chinese demand on both products and India's demand for coal which helps offset the newbuildings coming into the market. We expect the harvest season in the southern hemisphere to help sustain rates although volatility will most likely remain. We continue to remain quietly optimistic on the long term outlook for the dry bulk sector due to the robust growth especially in the Far East region and the gradual global economic recovery"





" As of June 3, 2010, our cash reserves amount to $84.5 million and the Company now operates a fleet of 20 vessels. On a combined fleet basis, we have secured under period employment 93% of ownership days in 2010, 58% for 2011, 27% for 2012 and 19% for 2013 providing us with significant cash flow visibility"