OceanFreight Inc. not doing well

By Tim | Published: May 20, 2009

ocnf051909.pdf application/pdf Object.

The short earnings release linked above from OceanFreight Inc. shows why this is one of the worst performing shipping stocks for 2009.

  • Falling revenue compared to a year earlier.
  • Higher interest expense.
  • Increasing costs.

I see no good reason to own this stock.

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