Monday, January 25, 2021

Me and a Seagull


Yesterday morning on a pier at the San Francisco coastline it was me and a seagull keeping an eye on the East Bay as cargo ships and oil tankers were lined up apparently to dock on the other side of the bay at the Port of Oakland.

You will recall that some months back I posted a picture of a lone cargo ship during the height of the COVID-19 panic. Shipping stock prices had collapsed back then.

Now, compared with last March’s low prices, freight rates from China to the U.S. and Europe have surged 300%. Spot rates are up to about $6,000 per container compared with the usual price of $1,200.

In the EPJ Daily Alert, during the panic, I advised subscribers back in March to buy Costamare Inc. which owns and charters containerships. The stock is up approximately 300% and last week I advised taking profits.

Note: Past spectacular profits do not necessarily mean future spectacular profits.


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