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Cavalier Shipping insights on the current shipping finance market and recent events in the shipping space.
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BDRY: A Valuation Unicorn Among Public Dry Bulk Shipping Stocks
Unlike most publicly-listed dry bulk shipping companies, the Breakwave Advisors Dry Bulk Shipping ETF (BDRY) trades at a slight premium. Public dry bulk shipping companies on average trade at a 25% discount to their net asset value (NAV) yet BDRY stays close to its NAV. How can this be?