Amazing first month with a total return of 13.23% in January.
This means that the invested $100,000 grew to $113,100.93 and generated $123.93 in income because of CMRE dividends.
Changes for February 2023
I’ll make some adjustments to the model portfolio as our setup for February.
Closed Positions
I’m concerned about falling rates and the dry bulk sector performance, so we’ll close two positions.
Seanergy Maritime Holdings Corp (SHIP)
Despite the falling rates, SHIP did very well in January. So, I’ll take this opportunity to exit this position and wait for a better entry point. It seems like the reopening and demand from China will be the deciding factor for this sector.
Genco Shipping & Trading Limited (GNK)
We have basically the same reasons for GNK. Dry bulk isn’t looking very promising now, and GNK, with its variable dividend, is probably not the best pick at the moment.
Added Positions
Contrary to dry bulk, I’m pretty optimistic for tankers. The upcoming ban of Russian oil products could be a catalyst here. For this reason, we’ll increase our exposure and add two positions as a replacement for SHIP and GNK.
Scorpio Tankers Inc (STNG)
Insider buys and share repurchases make this stock one of the top picks in the tanker sector. They are very well positioned to take advantage of the upcoming product ban.
Okeanis Eco Tankers Corp (OET)
OET is a tanker company that owns and operates a very young fleet of modern, eco-friendly crude oil and product tankers, which allows them to charge very attractive rates.
Other Remaks
The best performer this month was GasLog Partners (GLOP) as they announced their offer to take the company private. Unfortunately, it was a rip-off offer, but I expect them to improve the deal in the next few weeks. Despite the bad governance, the stock remains in the model portfolio for now.
The other positions are also not changed at the moment as we want to reduce trading to a minimum.
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.