OceanFreight Inc.  (OCNF) Trade Now »     Rate OCNF  -  Discuss OCNF  -  Add to Watch List        

Dry bulk shippers been really hurt as a group. It's a play on recovery in global shipping

like Warren B with his railroads.  OCNF just reported ok 3Q w/ money after taking loss on selling one ship.  Bought bigger one w/ revs already locked in and 2 more ships to be bought soon.  Greek based.

This stock recently suspended what would have been a 200% dividend. This is based on severely lower income negotiated to keep the ships in service during this downturn, one renegotiation was for 35 months. The stock recently traded about $25 and is now $1.39.

The idea is that there is a hopefully surviveable company that if it returns to last years form in 2 or 3 years will be worth 10 to 15 times present value and pay dividends of 200% or more based on current investment.

They only sail second hand ships so should not have the capitol overheads of some other companies.

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