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The choppy/consolidating (or perhaps worse) market conditions sometimes give the impression that growth plays do not exist, but that is not the case, and one growth company worth an evaluation is OceanFreight.

OceanFreight Inc. (Nasdaq: OCNF) specializes in dry bulk carrier lease charters. Third parties use OceanFreight's dry bulk vessels to carry iron ore, coal, grain, and etc.

OCNF operates a 10-vessel fleet, primarily dry bulk containers, but the company also owns oil tankers. Overall capacity is about 1 million deadweight tons.

Further, the secular, global trend of increased international trade between the Americas and Asia hemispheres bodes well for OCNF. Moreover, OCNF is one of those "off the radar" companies worthy of investor consideration: light institutional coverage gives individual investors a chance to establish a position in a promising company, before the major buy-side institutions drive up OCNF's price. The Reuters FY 2008/FY 2009 EPS consensus estimates for OCNF are $2.78/$2.63

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For OceanFreight, the profits are all around the world originally appeared on BloggingStocks on Thu, 28 Feb 2008 18:09:00 EST. Please see our terms for use of feeds.

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