Are you ready to end the trading week with a huge winner?
Immediately turn your attention to SHIP (Seanergy Maritime Holdings Corp.).
We believe that this low priced, low float, NASDAQ-listed company is ready to rally back to the $1 mark once again.
About the Company:
SHIP is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers.
The company is registered in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong.
SHIP announced yesterday that it took delivery of a 170,057 dwt Capesize dry bulk vessel, which has been renamed to M/V Geniuship, and a 56,884 dwt Supramax dry bulk vessel, which has been renamed to M/V Guardianship.
Both the M/V Geniuship, which was built in 2010 by Sungdong SB, and the M/V Guardianship, which was built in 2011 by CSC Jinling Shipyard, will be employed in the spot market.
The acquisition cost of the M/V Geniuship and the M/V Guardianship has been funded by senior secured loan agreements with international financial institutions and by a funding arrangement with the Company's sponsor.
As previously announced, the M/V Geniuship and the M/V Guardianship are the third and the fourth, respectively, of seven modern secondhand dry bulk vessels that the Company has agreed to acquire for a gross purchase price of approximately $183 million.
The acquisition of the remaining three vessels is expected to be completed by November 30, 2015.
At that time, SHIP will have a modern fleet of a total of eight dry bulk carriers, six Capesizes and two Supramaxes, with a combined cargo-carrying capacity of approximately 1,145,553 DWT and an average fleet age of about 7.1 years.
Market Overview:
Greece's Syriza-led government is caught between a rock and a hard place now that it has agreed to EU mandated spending cuts in order to continue receiving its bailout payments.
On one hand, Athens would be unable to stay afloat without continued financing from its EU creditors. However, the terms of its bailout deal threaten to completely alienate one of the nation's largest industries, something that could weigh heavily on Greece's economic output.
Greek shipping firms are not happy about Athens' plans to raise taxes on their operations, and in response to the new rules, they are threatening to take their businesses elsewhere. Home to the largest shipping industry in the world, Greece has long been a haven for shipping firms as relaxed tax laws meant they were able to retain a large portion of their earnings. However, new rules would raise Greek taxes on shippers, making the eurozone nation a less desirable place for the firms to operate.
In the spirit of compromise, Greek shipping firms have agreed to double their tonnage tax for the next two years, but the nation's creditors say that won't be enough. Instead, the terms of Greece's bailout call for shipping firms to increase tonnage tax incrementally as well as apply taxes to all shipping operations including their profits and the funds earned from ship sales. In the past, none of these operations were subject to taxes.
In response to the new tax proposal, the nation's shipping companies are threatening to move their operations to places like Cyprus or London, which boast lower tax regimes and have been working to entice Greek shippers to change location. As Greece's shipping industry makes up about 7 percent of the nation's economic output, a mass exodus could do significant damage to the nation's recovery. Greek officials have been desperately searching for ways to make up for its budget shortfalls without imposing taxes on the shipping sector, but so far their efforts have been fruitless.
Technical Analysis:
SHIP has a similar technical setup as many of our recent winners that ran up for double and triple digit percent gains.
Once again, our subscribers have a chance to cash in on what we can almost guarantee will be easy high double-digit percent runner.
SHIP is currently trading at just $0.70 per share...
The company is currently trading only 38.65% above its 52-week low price.
SHIP has plenty of room to run up the chart!
A return run to the company's 52-week high price of $1.51 per share would equate to gains of more than +114%.
SHIP is an extremely volatile play that could deliver massive intraday gains!
We've actually alerted SHIP once before....
On July 1, 2015, we brought the company to our subscribers' attention and it moved from $0.56 to $1.04 per share for a intraday +85.71% gain.
Just about 2 weeks later, the company rallied up the chart even higher...
SHIP moved to $1.44 per share for a total gain of +157.14% for our subscribers!
We have been watching SHIP for sometime now, and we believe that the company has found its bottom yet again.
Timing is imperative with these low price, tiny float, NASDAQ-listed alerts, so we ask that you move fast and pull SHIP up on your trading screen immediately!
(*Remember to use a Stop-loss Order to protect your gains, as well as limit potential losses.)
To learn more about SHIP, please visit their website(s): www.SeanergyMaritime.com
