Model portfolio update and Deep Dive

(published on Substack on 24 Apr 2026)

Dear fellow value investors,

In today’s post, we will discuss both the portfolio update and we are doing a deep dive into a very interesting company.

Please see below all transactions related to the purchase of businesses in the shipping industry.

The company has a strong balance sheet, and the demand for the commodity is slated to grow in the upcoming years. Interestingly, the company, apart from owning vessels, is also a shareholder of the exporting terminal of the commodity it transports.

Dear fellow value investors, We will be taking a brief scheduled pause in publication next week. During this period, we will not be issuing new research. This short interval is intended to allow for internal review, analysis consolidation, and preparation of upcoming work. Normal publication will resume on Tue, 30

Deep Dive: Pacific Basin Shipping Limited (ticker symbol: 2343.HK)

Deep Dive: Okeanis Eco Tankers Corp. (ticker symbols: OET / ECO)

Dear fellow value investors, Today, we will discuss the company Okeanis Eco Tankers Corp., with ticker symbols ECO (on the NYSE) and OET (on the Oslo Stock Exchange). The company operates in the tanker sector of the shipping industry. The Q1 2026 results for the tanker shipping companies were very