HoHumYNWA's Shipping basket - Apr 2023

Investment Analysis Clubs Hohum's RollerCoaster Ride
1

Big moves this month include

  • initiate a position in CLCO, then added multiple times
  • ZIM trim
  • continued build-up of FRO
  • NAT trade and do-over

FLNG 19.57
FRO 18.89
SBLK 13.90
CLCO 9.72
NMM 9.39
ZIM 6.30
TRMD 5.94
GOGL 4.04
NAT
TNP-E
INSW
GSL
SFL
BDRY

SFL is a recent addition after price slipped below $9. Digging deeper, not the same entity as prior years.

  • Share count has increased significantly
  • Drilling assets used to be VIEs - now consolidated. SFL also had to pay for expensive 3rd Survey.
  • Four very large container assets are an investment (SFL minority stake) with some complexity.
  • Ongoing clean-up of older assets (Suezmax, VLCCs, chem tankers)

Had been an opportunity to monetize on additional ZIM shares in early April - missed. Ack! Still, the ugly part is done (Roth exit of ZIM). Pleased with the NAT trade, and opportunity to re-enter so quickly a few days later.

Basket - 15.33%

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