1. DRYS ownership of ORIG is now worth $1.4 billion or $300 million higher than DRYS market cap. 2. Two VLOCs on time charters began working in Q2 which will reflect an additional $4 million in revs for the drybulk segment. ORIGs earnings according to George should be solid. Utilization chart on the ORIG site indicates merely 25 off higher days for Q3. Q4 shows more, but that is for rigs just coming out of the yards. Q1 is going to be a blockbuster for ORIG with nearly double the operating days of Q2 2012. 721 v. 455 days. Q2 2014 could add 90 more days to that number if they achieve 100% ut. rate.
I know one thing.. This ain't same audio, that was posting first of 2011.. At time, first 2 rigs had been posting good earnings.. Added 4 in 2011.. The 6 lost money in 2012??? Original audio, said stk holders would never see any benefits from GE!! Now this audio sounds like GE?? Avoiding Drys situation.. Skips to Orig!! Oh, did point out 2 VLOC's, would be adding revenues! Forgot to mention! Had 2 panamax who were generating $40K per day apiece.. That thier leases expired and are now on spot!!! And not trying to be negative.. Just want facts known...I do believe they got all those tankers built and delivered... With exception of 2, that they dumped at big lose... Anyway, problem of getting money to build them are behind.. Got 10, generating revenues!! Profitable???????