HoHumYNWA Shipping basket Dec 2022

Well, 2022 is a wrap, so here is the Shipping basket to close out the year
Holding %
FLNG 18.08 (Green)
SBLK 17.50 (Green, if div included)
GNK 12.88
GOGL 11.81 (Green)
GSL 10.52
ZIM 9.55 (Red - ugly)
NMM 9.30 (Green)
BDRY 3.27
TNP-E 3.15 (Green)
NAT 2.45
AMKBY 1.48 (Green)

  1. Consider how bad the overall market was, the shipping basket did well in 2022. Currently, slightly negative, about -3% But, that excludes net realized gains and dividends paid out
  2. ZIM (in particular) & BDRY are the two holdings with significant realized and unrealized losses.
  3. Wonderful gains from GOGL, NMM, FLNG. Also, with ZIM (prior to the massive Q4 2021 payout)
  4. In Dec, nibbles on NAT, ZIM & GSL.
  5. Share prices in the tanker companies seemed to have cooled off a little (except for TRMD and STNG)

On invested capital basis, major holdings rank
Holding %
ZIM 20.78
SBLK 17.89
GNK 13.32
GOGL 10.97
GSL 10.82
So Top shipping idea FLNG doesn’t even crack Top 5. FWIW, FLNG is 9.63%

Received email from Flex LNG (FLNG) regarding Dec 2022 events - increase in share capital

Not opposed to small dilution at those levels. $36.09/sh is higher than any of my FLNG exit price points. I’m good with FLNG building up cash at those levels. Also, helps me have a better gauge as to an entry point for adding shares at some discount.

1 Like