OCNF

[setravis]

OCNF - Volume Alert...

OceanFreight, Inc. engages in the marine transportation of drybulk and crude oil cargoes through the ownership and operation of drybulk and tanker vessels worldwide.

[Livana]

Very nice pick.. I will keep on my watch list. 

[iamonfire]

PROFITABLE EARNINGS IN 2 WEEKS WILL LIFT THIS PUPPY TO $3++

Last Q Excerpts:

"Excluding the one off charges due to the sale of an older panamax vessel, our net income on an operating basis would have been about 11 cents per share, well above analyst expectations. OceanFreight is very privileged not to have any capital commitments at this time. With our proven access to capital and our track record of sourcing modern high quality tonnage with fixed employment we continue to renew our fleet and enhance the longevity of our cash flows. As of the day of this press release we have secured gross revenues of $115 million until the end of 2010 with 92% fleet charter coverage for the remainder of 2009 and 72% for 2010. We remain uniquely positioned among our competitors to use fresh capital to finance asset opportunities at historically low values, which we believe will be accretive to shareholder value over the long term."


Last week an analyst wrote:

"The shipping industry has been affected profoundly by the global recession, as measured by the Baltic Dry Index($BDI), which, after peaking in early July at 11,500, plunging to a low of 800 in early December; finally settled at 3,579 as of December 11, 2009. Economists expect a rebound from a collapse in trade, citing signs of production and purchase orders improvements from Asia, especially China.

"The Company appears to be positioned to profit from a rebound in maritime transportation for drybulk and energy commodities. Industry insiders believe the worst for the industry is over. India S. Hajara, chairman of Shipping Corporation recently told the Economic Times that the worst is most likely over for the maritime shipping business."

[setravis]

iamonfire...you started a new thread.

"WSCI" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders.            
All history on a stock pick in one thread is awesome.           

Thank You....and good luck with all your trades....make some $$$