![]() ![]() The simple fact is that is this he who is the most bullish on the market, or has the lowest cost of capital, or has some personal motivation for doing the deal, or ideally has all the three, wins the ship.At the right price there is endless liquidity, and at an unattractive price there is no liquidity at all. Liquidity is nothing more than a function of finding the market clearing price.Look for situations in which financial leverage can be added to operating leverage.When capital has the desire to go into the shipping industry, it will always find a way.In a commodity business like shipping the only thing that really matters is the price. Pay less for your ships, pay less to operate them or pay less for your capital.When it comes to buying ships, the best deals have the worst cash flow. ![]() If you simply replace “shipping” as “company” almost all of the quotes will make immediate sense, for the rest of them just use your imagination. This is a piece of fiction but its loaded with so much investing sense, that it just ought to be read by investors. ![]() This book is probably the best book one can read to get an insight into the shipping finance business as well as the over all shipping business. ![]()
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