Seeing some misinfo from containership bears/skeptics about 'NAV in peak markets. To be clear, what we cite as 'adj. NAV' at @Shipping_VIE are based on fixed charters and terminal valuations close to demolition.
Comparison:
-$DAC: $326/sh (adj. $165)
-$GSL: $135/sh (adj. $44)
Comparison:
-$DAC: $326/sh (adj. $165)
-$GSL: $135/sh (adj. $44)
For those who say "NAV will crash if markets turn down," Duh! The $326 and $135 is very high... That's a strawman argument here.
These stocks are wildly cheap. I believe containers offer significantly better risk/reward vs. other #shipping. Do your own DD and see what you think.
These stocks are wildly cheap. I believe containers offer significantly better risk/reward vs. other #shipping. Do your own DD and see what you think.
When rates come down in the future and asset values "crash," the raw NAV (assets minus debts) will come way down. However, in a falling market, charters become *more* valuable and adj. NAV might even go *up* in certain scenarios.
Has happened 2x already in past 15y.
Has happened 2x already in past 15y.
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