“At 80 years old, is JF — the man simply known by his initials — strategically unwinding one of the most remarkable single-generation shipping empires ever built?”
“Most of those spinoffs have been disastrous even looking at the share price 12 months after the spin,” Lightbourn told us. “I looked at the spinoff of EuroDry and it was interesting to note the contrast with that more recent batch.”
“I see prolonged weakness in dry bulk, especially in the kamsarmax and panamax sectors, where rates have been in the $8,000 to $10,000 per day range,” Lightbourn said.