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Amit Dalal of Amit Nalin Securities remains very cautious on shipping.

“One should remember that Great Eastern does not have much of a dry bulk exposure in terms of capacity now. They have almost divested most of it. I remain very cautious on shipping. I think there is extra supply of shipping capacity in the world. Orders have been cancelled from shipyards because there is not that much freight to be carried. The global trade will not remain as high as it was before and there was huge leveraging in buying ships which took place from 2003 to 2008. That scenario is going to create a problem for them. So I do not think that one should remain very positive on the shipping sector.”

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source : MoneyControl

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