Back on March 18, Cramer warned viewers away from a number of new shipping stocks, citing mainly the weak industry, their lack of an operation history and their status as subsidiaries. Crude Carriers , Alma Maritime and Baltic Trading , all of which had recently come public, were to be avoided, he said. Investors were better off going with either Diana Shipping or Nordic American Tanker instead.
But during Wednesday’s Mad Money, Baltic Trading’s Peter Georgiopoulos appeared on the show to defend his company. Georgiopoulos serves as chairman of Baltic’s board, and he’s the founder and chairman of Baltic’s parent company, Genco Shipping . In addition, he’s the chairman and former CEO of General Maritime , an international oil tanker company, and the chairman of Aegean Marine Petroleum Network, a leading marine fuel logistics company.
Needless to say, Georgiopoulos knows the business, but is that enough to change Cramer’s mind? Watch the video for the full interview.
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