Not too crazy, but there have been some developments wrt the shipping ideas.
- On the growth side, three nibbles in BWLP
- Closed out the BDRY bet
- Sold some of my FLNG Roth ac stake (4 nibbles)
- On LPG pull-back, another Roth ac nibble
- FLNG Roth ac nibble (Reset cost basis move backfires a little)
- Trimmed GOGL in taxable ac (some positive, some negative)
Explain the dry bulk-related actions? I wasn’t feeling positive about the dry bulk shipping market in early Aug. GOGL’s subsequent Q2 results partially vindicate my feelings (Panamax category). GOGL’s Cape category rates surprised me (and possibly the market)
The BW LPG folks threw a curve ball, or two, maybe three. Q2 results about what I expected, but dividend a little weaker than I expected. Q3-done-to-date a lot weaker. The Avance Gas VLGC additions? Good planning for growth, with on-the-water additions. Short term? Need another cluttered Panama Canal event to assist with rates.
Significant basket holdings
FLNG 27.06%
FRO 16.27%
TRMD 11.73%
BWLP 10.56%
LPG 9.28%
INSW 8.88%
CLCO 8.84%
Smaller picks: TNP-PreE, TNK, GOGL & HAFN
Basket performance not as good as May or June. But, a slight improvement over July. The LPG, CLCO & FRO trims in July were all quite good or timely.
On the results side + dividend payout - INSW, HAFN, & TRMD were the ones that stood out.
Edit:
Smaller picks also includes ECO. One of only three (TNK and BWLP the other two) picks in the red.