I have held this for many years, unfortunately. One thing that always gets to me is to see the charters announced as so much "minus a 5% commission paid to third parties". I never see who those third parties are and the price is always 5%. Does anyone know who is getting this money? Most shipping companies, and I would think this one, can arrange their own charters so I am getting a bit skeptical about this aspect of Dianas business. Do they have an in house agency that does charters? Is this commission paid to "unaffiliated" third parties? Any comments?
Been there mike. When dsx goes under 7 buy and around 8 sell for now imho. Getting ready to get back in, don't pay attention to the noise.
China is all a bunch of bs. CHina has been slowing for months. The china mkt runs from low 2000 last yr to 5000 this year and now its 3000K and its a big deal. Still up over the last yr so its all #$%$. Manipulate it up and then down
"Why do they pay 4.75% commission on a continuation when the agent does no due diligence to find the best rate contract?" Why do commercial RE landlords pay agent commissions for lease renewals @ what, to outsiders grabbing numbers off the web, may appear to be below market rates?
I can understand your position. Tough to invest in drybulkers when we don't have good vision. Takes a strong stomach to hold. With capes at 20k. We need a decent renewal. Looks like the market doesn't be in this strong bdi and cape rally
Has anyone asked why DSX management keeps renewing its continuation charters at lower than current market rates? On top of that they pay a 4.75% commission to intermediaries or agents, which by the way could be one of the 'management's' own pocket. Why do they pay 4.75% commission on a continuation charter when the agent does no due diligence to find the best rate contract? Or, really, does nothing to earn that commission!
This has me concerned and although DSX may be a great company, with honest management, I called it quits on the last rally couple of weeks ago, and liquidated my 35,000 plus shares. I am not sure I will invest in DSX again, despite increasing BDI rates.
Things seem to be turning up and now they downgrade? Where were they last yr when it was 12-13. Analyst are a joke sometimes. Like they all downgrade BTU over the last 2 weeks. Really at 1 buck you downgrade when it was 60 bucks or even in the teens it was obvious things were bad for coal.
Little good news.. And then some not so good.. Per Compass Maritime weekly.. T/C Rates for Capes went up $2K per day last week..But DSX has 20 Panamax and losing serious money.. Rates for them stayed the same. At $7.5K per day...
As of last Fri..T/C rates hadn't went up with BDI.. Google, Compass Maritime to see what they done this week.. Getting ready to do that, myself.. In mean time.. DSX loses about doubled from 1st qtr? And now debt is over $500M..
IT will be interesting what they get for the next cape. We do not know the top right now its over 17K on the spot. A slow grind up would be better than a run to 30-40 and a crash like in 2013. Once confidence is in that rates are not heading higher we should get a premium over spot. at current rates I think DSX is profitable without depreciation. So their losses are not as bad as reported
next week as the market digests the cycle has turned up and we are at the beginning of a 3 yr or longer uptrend. No growth this yr in supply of ships as the world growth grows. Same should be true for 2016/2017 since its a 2 yr delay in orders. As the market continue to grow and more ships will be demolished than made things are going to balance quickly. Stocks move up and down before the nunbers show it. DSX was making 1.50 a share and the stock was crashing. Now they will probably loose a .80-1.00 this year and this will mark the bottom and move up.
we may 1-2 quarters away. One of the last analysts made a comment thinking we may hear some positives next Q.