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Seanergy Maritime Holdings Corp.Seanergy Maritime Holdings Corp.Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp.

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ship - Seanergy Maritime Technical analysis.Based on Technical Analysis: Hold for a short term investment and wait to get in to it for a long term investment as soon as the virus issue will be solved. There is positivism in the company based on Fundamental ANALYSIS: Seanergy Maritime (SHIP -32.3%) says it will proceed with a 1-for-16 reverse stock split expected to be effective on June 30, even though the Nasdaq granted an extension until Sept. 25 to comply with the $1.00 minimum bid price. The company believes a reverse split will encourage institutional interest in its shares in any future market recovery. Seanergy reported an $8.3M Q1 loss, compared with an $8.6M net loss in the year-ago quarter, but the daily time charter equivalent of its fleet rose 11% Y/Y to $8,481. Seanergy says strong steel demand in China, historically low iron ore inventories and the ongoing recovery of Brazilian iron ore exports are setting the tone for a much stronger capesize market over the rest of the year.
NASDAQ:SHIP
by Mauriello
Baltic index hits over 7-month high on increasing vessel activitBaltic index hits over 7-month high on increasing vessel activity index touched its highest level in more than seven months on Tuesday, as rates across all vessel segments rose on increasing trading activity. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 59 points, or 3.8%, to 1,617, its highest since Nov. 5. * The index has soared more than fourfold after slipping to a low of 393 points in May, when coronavirus-induced lockdowns hammered global trade and vessel demand. The still looming threat of a renewed lockdown in Autumn, coupled with a still sluggish paced recovery in the West and continued geopolitical issues, leave for a high-risk potential of a complete derailment of the recovery effort being made, finance.yahoo.com The index on Friday posted its biggest weekly gain ever, underpinned by a rebound in global commodities trading as iron ore demand from China picked up. * "Current forecasts point to a healthy ore output from major mines; enough to support the strong Chinese demand and so far we have seen shipments from both Brazil and Australia to have picked up." finance.yahoo.com
NASDAQ:SHIP
by AlenCiken