You don't know what you are talking about, really, do you? You just pulled up a stat, FROM YAHOO, no less, and run with it. You have no idea about actual ship values now and how they compare to what this company PAID for the ships. Your problem is you have no working knowledge of this company, this industry or the fact that what you PAID for something does NOT mean it is worth that much now. And they are depreciating every year by 4% as well.