As this month winds down, just musing that it has been an odd month. Been trying to wrap my mind around the dry bulk shipping sector. Have waffled on whether Q3 would be good or bad. Turns out it was profitable and it really depended on one’s angle i.e. was one expecting a price bounce or a steady div? The DSX results made me realize the dry bulk market was in decent shape, so I jumped back into GOGL prior to results. DSX had another surprise this week.
The big events
- DSX results, followed by a warrant offer to shareholders
- Build up of an INSW position
- FLNG’s good Q3, including a supplemental div
- Boosting TRMD stake prior to good Q3 results
FRO closes out the month with results next week. Today’s price bounce had me realize gains in traditional IRA account. Might sell additional shares closer to actual results. Worried that traders might expect a better div than the Q2 payout, and it likely does not occur. The additional VLCCs from EURN? At this time, I think a full qtr of revenue impact doesn’t occur till Q1 2024.