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DryShips, Inc. Message Board

  • mikecline3 mikecline3 May 17, 2013 4:26 PM Flag

    that sunk my battle ship

    just want to let the shorts know that i'm still here.lolol

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    • pplpaull May 17, 2013 4:36 PM Flag

      Mike- I am long DRYS and EGLE

      Shipping will rule with world economy turning!

      Sentiment: Strong Buy

      • 1 Reply to pplpaull
      • PPL, you are aware that EGLE showed a profit of 8 cents per shr... I suggest you figure out what they would have reported if it hadn't been for the $32.8M they recieved from KLC??? Best I can tell you EGLE has about 18M shrs outstanding... That $32.8M would have added upwards of $2. per shr... And they come in with an 8 cent profit??? Not that I am anyone to give advice.. But with the revenues they are and will continue to genratet!! And with $1.1B debt to service... If I owned any of it.. I would consider that jump as a gift and sell it... Personally, I don't believe they will ever come in with anouther profitable qtr!!! And they may have already cut things to the bone... I noticed General and admin expenses dropped to $3.1M for the qtr, from like $10.6M a yr ago??? And as all thier bulkers seem to be about panamax size?? I think that bodes bad for them.. Drys also has a bunch of panamax, that are all on spot and more newbuilds coming???? Sad situation, when you have to lease them at below operating cost??? But what are you going to do with them??? If they tried to sell some of them... They couldn't get what is owed on them!!! As witnessed by the 2 tankers, Drys sold.. They had to throw in like $21M cash to get someone to take them off thier hands!!!! The only thing that will keep a lot of these drybulkers from going BK... Is if the banks, just write off a lot of thier debt?????? It will take yrs before the glut of bulkers plays out.... All those bulkers that they had built at premium prices in the last few yrs have a life of 20 to 25 yrs!!!! It may take that long for demand to catch up with supply???

0.480.00(+0.50%)Sep 23 3:59 PMEDT