Jay Minsmire

Subject

Value Investors Edge long only model portfolios > 34.8%

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Um year to date uh the markets have been very crazy and I'm sure Sal's got lots of good questions. We'll dive into that. um our long only model portfolios year to date are up uh 34.8% as of last night.

Subject

Cineor > publicly available VLCC fleet

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There's one company out there called Cineor, which has been trying I people say corner the market. But they have been building a very large stake in the publicly available BLCC fleet and they're up to about 15% of of the publicly available ships right now.

Subject

Cineor > publicly available VLCC fleet

Quote from Video

There's one company out there called Cineor, which has been building a very large stake in the publicly available BLCC fleet and they're up to about 15% of the publicly available ships right now. And 15% for a commodity market where two or 3% changes everything, acquiring up to 15% of tankers is a really big deal.

Subject

Houthi attacks in the Red Sea > diversion of container ship cargo

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But then we had the Houthies and they were launching, you know, small UAVs and autonomous ships and rockets. They managed to divert 70 to 80% of the global global containers ship cargos. And you think about diverting the container ships around the entire continent of Africa as opposed to taking that shortcut right into the Mediterranean Sea.

Subject

Hapag-Lloyd > ZIM

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the board got involved some activist investors got involved and now the deal is hop Lloyd is coming in at $35 a share. Uh now it looks like the deal's a little complex. Uh they have what's called the golden share.

Subject

Gas shipping market > short-term volatility

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I see this more of sort of a flash in the pan uh there might be a few dislocations there might be a few charter rates signed at sky-high prices because they're really trying to load that gas quickly. But in terms of the supply demand imbalance over the next year or two, um really what happened here is everyone was so bullish on the future of LNG.

Subject

LNG export terminals > development schedule

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terminals are always delayed. Whether it's three, six, 12, even 24 months, they're delayed. And so, we see this mismatch up where the new supply coming online is is maybe 50% higher than it should be over the next year or two.

Subject

Dry bulk carrier fleet > within 3 to 5 years

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There's a significant mismatch on ages. There's about 45 to 50% of the fleet which is trending towards obsoletin the next 3 to 5 years.

Subject

China > Australian iron ore with Guinean iron ore

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China's number one focus is going to be replacing that iron ore from Australia with iron ore from Guinea. And so every cargo that they replace takes three to four times the number of ships. And so this is a scenario where Chinese iron ore import growth could be flat and yet demand could move up three to four% per year.

Subject

Dry bulk shipping rates > 15-year highs

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Right now, the rates are higher now and before recent events, like as of like a month ago, they were higher now uh than they've been in 15 to 16 years. So, we're at the highest rates in 15 years.

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Value Investors Edge > a subscription-based research platform on Seeking Alpha

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So Value Investors Edge is a research platform. It's subscription based. Uh so we we have offer annual subscriptions. We're available on Seeking Alpha.

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Value Investors Edge > a team of 11 people

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has expanded. So right now it's a team of 11. Uh so I'm just one person. I'm really just the founder of Value Investors Edge at this point. Obviously I help guide the team and things like that, but we have a a head of shipping research. We have a full-time macro person, full-time energy person, a full-time data analytics, reporting news, you get it. There's a full-time person for for everything in the business.

Subject

DHT Holdings > a spot rate contract exceeding $250,000 per day for a single vessel

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DHT recently signed a ship on spot rate for reported over 250,000 per day. Normally at this point of the year, uh a spot rate would maybe be 30,000 a day. So that single ship basically made their entire year right of profits.

Subject

Starbulk Carriers (SBLK) > trustworthy management and strong corporate governance

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But I will say one of the largest publicly listed companies that we have followed now for over a decade uh very trustworthy management team great corporate governance great shareholder returns is starbulk carriers SBLK.