Were do i start. Esea has 45m shares outstanding, salf bulker has 70m shares outsanding each new paramax ship cost 35m. Esea has only 23m cash. Can you imagine the dilution esea would need, , to go from a 13 small ship fleet, age 11yr, to a 25 lg ship fleet with a average age of 6 yrs sb has the second lowerst fleet expense in the bussiness, second only to nm please show me were they diluted the share holders. they earn .70/share and pay div. One more thing capex and paramax rates have doubled esea has only 2 paramax , all other ships are handy size, which is the bsi index which has hardly moved check the bdi index for yourself. I bought esea at $1.06 and sold at $1.64 then watched it go to 1.45 and then $1.79 now $1.70.