I have said this many times on this board. Royce runs a very risky operation at TBSI. He buys old handies and tweens at peak prices, he gives the company no protection to any downturn. No long term charters and minimum guarantees from his clients. Voyage rates down over 80%...... Remember, Royce sold 2 million of his shares at $51. Boy did he protect HIMSELF from a downturn, but did not protect the company. I am surprised he is not a greek.
thanks god you not a greek,to