Dry bulk shipping company Genco (GNK)
is holding on by its fingertips. With charter rates crushed by capacity
additions over the last three years, Genco is deep in the red and
facing a day of reckoning with its lenders. Recent spikes in certain dry
bulk rates are encouraging, but not enough to get the company back on
its feet without the cooperation of those lenders. Although I do believe
Genco will manage to restructure or renegotiate its debt, that's a
risky call at this point and the company's net asset value is in the
red. Still, for those investors looking to bet on further recovery in
charter rates, Genco could offer meaningful bang for the buck.
Please follow this link to continue:
Genco Shipping Offers A High-Risk Charter Rate Call Option
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