DRYS was the first of the group to follow EXM. It's IPO fell by 50% from inception to the middle of 2006. Then when bulker rates shot to the sky, it soared up to the end of 2007, then started is unbelievable descent from $131.50 to now $2.17.
Are owners seeing potential in current ship prices?
Is it mostly a reaction to the lack of bank-provided credit?
Or are they attempting to take advantage of public money sloshing around to do fleet expansions that might: a) increase their comp packages based on expanded fleet sizes b) increase the business / revenue of their other, privately owned, companies that would provide operational management and services to the publically traded ship owning companies?