For OceanFreight, the profits are all around the world

February 28th, 2008 | Category: Commodities

The choppy/consolidating (or perhaps worse) market conditions sometimes give the impression that growth plays do not exist, but that is not the case, and one growth company worth an evaluation is OceanFreight.

OceanFreight Inc. (Nasdaq: OCNF) specializes in dry bulk carrier lease charters. Third parties use OceanFreight’s dry bulk vessels to carry iron ore, coal, grain, and etc.

OCNF operates a 10-vessel fleet, primarily dry bulk containers, but the company plus owns oil tankers. Overall capacity is about 1 million deadweight tons.

Further, the secular, global trend of increased worldly trade within the Americas

and Asia hemispheres bodes well for OCNF. addition, OCNF is one of those “off the radar” companies worthy of investor consideration: light institutional coverage gives individual investors a chance to set up a position in a promising company, before the major buy-side institutions drive up OCNF’s price. The Reuters FY 2008/FY 2009 EPS consensus estimates for OCNF are $2.78/$2.63

Continue reading For OceanFreight, the profits are all around the world

Original post by Joseph Lazzaro

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.