A few years ago, I read an article written by respectable investor "Cold Eye" regarding Maybulk.
It was published in end of year 2018. He opined that dry bulk shipping industry was recovering from 10-year slump and might turn bullish partly contributed by lower supply of bulk carriers.
I think I came across this article only in 2019. I checked Maybulk's recent financial performance and it was all red. Straight away I lost interest in it at that time.
I didn't study the stock and the industry at all.
Now, after a reader mentioned Maybulk in this blog, I started to look at it again.
After studying Maybulk, I learn something new about the shipping industry.
In general, there are 5 types of cargo ships:
- Containers ships: carry containers
- Tankers: carry liquids (oil, chemical) or gases
- Dry bulk carriers: carry unpackaged dry bulk cargo
- Reefer ships: carry temperature-controlled goods
- Roll-on roll-off: carry wheeled cargo (cars etc)
- Mini (DWT < 10,000), DWT = Dead Weight Tonnage
- Small (DWT 10,000 - 25,000)
- Handysize (DWT 25,000 - 40,000)
- Handymax (DWT 40,000 - 50,000)
- Supramax (DWT: 50,000 - 60,000)
- Panamax (DWT 60,000 - 100,000)
- Kamsarmax (DWT 80,000 - 85,000) a variant of Panamax
- Post-Panamax (DWT 80,000 - 120,000)
- Capesize (DWT 100,000 - 200,000)
- Very Large (DWT > 200,000)