A week to go to close out the month. A wretched month, as the basket has shifted from black, majority of ideas positive => quite red, majority of ideas negative. That’s prior to the hefty payouts. The dividends help offset the [Edit: unrealized ] capital losses and get me back into positive territory.
All that said, the bleeding has been ugly. Generally, across all-but-one shipping segments. The holdout? Container shipping. Only one holding for me - a tiny position at that, ZIM. But, I have noticed DAC and ESEA have also held up quite well the last month.
During the beat-down, added to INSW, CLCO, & TRMD
Initiated position in ASC
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Dorian (LPG) confirmed their Q3 2024 dividend will be $1/sh. In providing a preview, company also suggested a Q3 TCE rate that was much higher than I expected. Though my LPG position is negative, this news event is a positive for me. That motivated me to add to my LPG stake - first in my Roth ac, then in my taxable ac.
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10/31
A rough month for the overall basket, and per the OP comment, a really rough month for the shipping basket. At a different stage in my investing experience, I would likely have folded out of a few names already. Oddly enough, a few names are still positive. Including, at least two that require the dividend to be included, to remain in the black.
Added to INSW stake today. Added to HAFN earlier this week.
The basket composition
FLNG 26.57%
FRO 12.82%
TRMD 12.72%
INSW 11.46%
LPG 10.22%
BWLP 8.42%
CLCO 6.08%
HAFN 5.15%
Smaller ideas (each less than 5%)
- ECO, TEN - PrefE, GOGL, ZIM & ASC
STNG reported earlier in the week. No current position. Expected more from their LR2 category, and was not impressed with their MR1 avg. Their clean peers (HAFN, TRMD) report over the next 6 weeks. I expect better avgs from TRMD. And that should translate to a better yield than STNG.
Including the dividend stream, shipping basket is about positive. This month has been about growing the basket (in particular, LPG, TRMD & INSW). That said, I am feeling good about the BWLP Roth ac trim earlier month. Also, the CLCO trim early last month.