July is drawing to a close, so I may as well start summarizing the month. Seems a lot less choppy a month than June 2024. The overall market behavior had me lock in gains on one of my tiny stakes i.e. STNG. I may still nibble back into the name prior to their earnings. In the interim, it has been replaced in the shipping with another tanker name - TNK.
This past week, I sold a portion of my FRO stake in the Roth ac. Then, a few days later, half the sold portion was reacquired. The sold shares were among my higher cost FRO shares. It was more dealing with what the market presented (a sudden abnormal FRO bounce) then necessarily locking in great gains. Q3-to-date, the VLCC market has been behaving like a typical Q3 (relatively weak). The medium tanker sizes, Suezmax and Aframax/LR2, have held up a lot stronger.
BWLP share price has taken a sudden whack - almost 10% hit. Iām okay with this - have used it as an opportunity to lower my BWLP cost basis. As mentioned elsewhere, have been gaining a better understanding of this shipping entity (that only sought a US listing in 2024).
Added to BDRY - Too early? Cape vessel index (BCI) started a downward trend. Tis a streaky one - just have to let it play out.