debt not unmanagable by any means. Large upside, formerly $80 per share. More shares now, but more annual revenue based on past expansion...neutralizing the effect of dilution.
Spot capacity will make EXM shine above the others again.
Ask yourselves this: Which bulkers had the highest PPS by far during the last shipping boom? That's right, those with a combined LTC and spot strategy(DRYS, EXM, TBSI).
See you at $30...
Interesting. Can you provide a source for the report?
FWIW, back when there was a glut of tankers, some newbuilds went straight to the breakers. So it wouldn't come as a complete surprise that a surplus of bulkers could meet the same fate.
But that would argue that shipping rates will NOT be increasing much in the near term. Which is NOT good news for EXM which has a high % of its fleet coming off LT charter this year.
And be sure to stick to bulkers. Some youngish BOXSHIPS have been scrapped along with a very few single-hulled tankers. NO 1995 or even CLOSE bulkers have been scrapped this year, last year or in recent decades. Show ONE. Name it.
"LOL, yes that's right...there have actually been newbuilds under construction that have been scrapped in the last 18 months, but no 1995 ships...according to our resident shipping expert, Audio"
Do you even read English? Do you read what you type prior to posting it? You just like to rant and rave don't you?
LOL, yes that's right...there have actually been newbuilds under construction that have been scrapped in the last 18 months, but no 1995 ships...according to our resident shipping expert, Audio.
There are no 95 built bulkers scrapped. Your point, although extremely vague and buried in BS is that Capes are down in value. Yes, Junior. They are. Down to about $42 million for a ten year old Cape.