Skyros future potential represents another 225 million annually to drilling backlog. Potential for DRYS NEW 2013 VLOC/capesize vessels into Bloomberg headline of 2/25: "Capesize Rates Seen Doubling on China Iron-Ore Reserves: Freight" Short term/long term - positive.
Next quarter should be much better for both companies. The Leiv Eiriksson and Eirik Raude drillships are back in service to produce revenue for this quarter. Last quarter they produce zero revenues due to a class survey and dry dock upgrades. This quarter they are back to producing revenues for the companies. We also see a uptick dry bulk shipping rates. Although, this will not be a significant factor to revenues, it shows that rates are finally beginning to stabilize near the bottom. Hopefully, we will see a positive trend line moving forward.