As the year comes to a close, it’s time to reflect on the rollercoaster ride that was 2024. Despite a challenging second half, the portfolio still managed to deliver a solid performance of 20.34% for the year, with a disappointing -2.05% gain for December. The first half of the year felt like smooth sailing, but the second-half selloff was a painful reminder of how quickly tides can turn in the market.
This year saw some notable shifts in the portfolio. While tankers were a letdown, containers and LNG turned out to be unexpected bright spots.
Positions for January 2025
- DAC
- INSW
- NVGS
- OET/ECO
- SBLK
- TEN
- TRMD
Closed positions
BIL
We’ve decided to move away from holding cash or bonds. Nobody can predict the short term, but the steep shipping selloff has made me confident enough to put our dry powder to work.
GNK
There’s nothing wrong with the company, but I believe SBLK offers better value at this point.
HAFNI
Similar story here. Nothing against the company, but we’re already heavily invested in tankers. Despite TEN’s governance issues, I prefer it for the portfolio.
ZIM
We’ve done really well with ZIM, but at this level the stock is just too volatile and risky for a monthly rebalancing strategy. If you’re looking for more container exposure, I’d recommend overweighting DAC instead.
Added positions
ECO
To start the new year, we will transition from the Oslo symbol OET to the NYSE symbol ECO. This isn’t an added position; we’re simply updating the ticker.
SBLK
It’s an awesome company with great management for dry bulk exposure. At this price, SBLK feels like an easy choice, even with the not-so-great outlook for the sector.
TEN
I’m not a huge fan of TEN, but the stock is so cheap that it gives us downside protection while keeping our tanker exposure intact.
Portfolio Performance Tracking
This website contains no investment advice and is purely for informational and educational purpose. Do your own research! For more information please also check the model portfolio page.