% | $
Quotes you view appear here for quick access.

DryShips, Inc. Message Board

  • jrmills0014 jrmills0014 Jul 22, 2013 10:31 AM Flag

    Why I don't think glut is going away for yrs!!!

    If it was going to be over in next 3-5 yrs.. Wouldn't the ones who lease these bulkers have some kind of clue?? Check out that daily mkt report, that Drys post in thier website daily!! A Pany just leased for 4/7 mths @ $8,050. per day... Then look at what they could lease bulkers at for 1yr, 2yr, 3yr and 5yr?? Ain't no pretty picture there as Drys has about 30 panamax on spot, losing money!!! And may owe twice as much on them, as they are worth???

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • And as for people reporting the BDI, Up or down...I think we can ignore it!!! I think with the capes on the water and super bulkers, that Vale built... It has killed demand for Drys fleet of 75k DWT panamax and EGLE's fleet of 51K DWT bulkers??? And they both owe a ton on them!!! Only reason, I only mention Drys and EGLE!! Only 2. I bother to look at any more!!! Even if some of the Drybulkers survive?? It may take 15-20 yrs, before the glut plays out!!!! Hey GE made his fortune, thru Cardiff, getting like 30% commisions for ordering them, and now may be getting 30% commisions for selling them at a big loss??? And don't forget about the about 5% commisions for leasing them!!! That should tell you where all the profits went to!!! When Drys had all those bulkers leased at huge rates... And what about the $2B+ of Drys stk he has sold.. And now about $1B of Orig stk? And last but not least.. What is Drys debt?? Last qtr, Orig reported $2.8B debt?? Drys reported $4.5B, which I assume included Orig's debt??? But does it include 51%, 65% or 100% of Orig's debt??? I sure as hell hope the bankers haven't let GE get them on the hook for $4.5B against Drys assets??? But stranger things have happened!! I personally believe when this all plays out!!!! What Bernie Maddoff got by with for 30 yrs, and is going to spend his remaining yrs in prison.. Will look like childs play!! As to what GE is doing!!! He walks away with billions.. Stk holders and lenders, both lose $2B to $3B apiece??? And is he really breaking any laws???

4.01+0.31(+8.38%)Apr 29 4:00 PMEDT