How to Make Shipping Investable, Again… 29 th Annual Marine Money Week
Dramatic Underperformance by Shipping Shares Confidential 21016 YTD 1-Year 3-Year 5-Year Crude (1) -32.6% -35.9% +13.8% -79.9% Product (2) -32.9% -40.2% -30.0% -42.9% Containership (3) -17.4% -43.6% -42.1% -39.8% Dry Bulk (4) -47.8% -81.9% -96.0% -98.6% S&P 500 +2.3% -1.5% +31.4% +61.5% Source: FactSet as of 6/21/2016 (1) Crude index includes: DHT, EURN, FRO, GNRT, NAT, TIL (2) Product index includes: ASC, DIS, HAFNIA, STNG (3) Containership index includes: CMRE, DAC, DCIX, GSL, SSW, TEU (4) Dry index includes: BALT, DRYS, DSX, EGLE, GNK, GOGL, NM, SALT, SB, SBLK 1
New Shipping Issues – Since January 1, 2014 Confidential IPOs Follow-ons 6 40 37 Down 52% 6 3 Down 36% Up 24% - Traded Up Traded Down Traded Up Traded Down Source: FactSet as of 6/17/2016 2
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