Seanergy Maritime Holdings Corp. (SHIP)

[warrenbuffetjr]

I think we are going to get an end of month PR (last was on the 30th). SHIP is sitting undervalued and I am a value investor.

China has just been officially declared the worlds largest energy and dry goods consumer. What this means for shipping companies that ship dry goods is that they will be cashing in on China's high demand. SHIP is a dry goods shipper.

The ships that SHIP owns have a long life value (twenty plus years) so I don't see any concern regarding the minimal depreciation.
Did you know the military is still using battle ships that were built in the 60's? That was fifty years ago! It's all about how the boats are maintained. A properly maintained dry shipper can run seaworthy much longer that any battle ready destroyer. All they have to do is make reinforcing support welds and give her a new paint job every year ($80,000--plus paint).

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Ships are like airplanes, did you know that the B-52's (many built in the 50's) were only retired a few years back for the B-1 and they still have an airworthy rating. Those planes were 60 years old--some even older! And they were operational up until only a few years back. Actually you will see these 60+ y/o planes flying at airshows to this very day.

I think the company pps will hit just over 1.25 in the next month. Then move on it's earnings to around $2.18 by the end of October. China is going to pay handsome returns to any dry load of steal at her ports--for years to come. So, we're looking at a value buy here. This is a double in four months.

I am giving SHIP my soon-to-be coveted "Money Tree."



HERETOFORE is my persoanl opinion-nothing more.