Seanergy Maritime Holdings Corp. (SHIP)

[warrenbuffetjr]

Hi investorwisdom, I would rather have ten humble boats that haul the same amount of cargo as ten brand new boats. That's simple economics. When a company throws out cash on a bunch of fancy toys--bells and whistles-- and then a cheaper price comes "floating along" to do the same exact job (give or take an hour or two) their going with the less expensive company and so would most all other dry bulk consumers.

Imagine you could pay one taxi $25 dollars to give your dog a ride to town or different company $10 to give your dog a ride to town but this company would take five minutes longer to get her to where she was going and the car had some sratches on it. Which company would you use?-- Now suppose your dog had to go to town EVERYDAY for TEN YEARS! Which company would you have haul her. Yes sir...it is simple economics.

It's like insurance, many consumers have no clue and they find insurance is pretty much standard no matter which company they buy it from. The same goes for shipping dry goods, it's all about the less expensive ride not the new paint job and Titanic appeal. People choose an insurance company for the same reason--it's cheaper than the other guy.

We're talking about scrap metal being dumped in a boat with magnets--esentially garbage to the hauling company but Gold to Buyer. I don't know where you have been but China is using steel faster than anyone in the World can supply it to them. You pointed this out...Maybe that's why all those new boats are going online...to meet the upcoming demand.

But I guess you would have to see it from a futuristic perspective to realize my reasoning. But thanks for the conversation. An enjoyable read, nonetheless.

HAPPY MONEY MAKING...