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DryShips, Inc. Message Board

  • shavitmi shavitmi Mar 12, 2014 10:19 AM Flag

    BDI down due to capesize rates were down,DRYS ALL capesize are fix

    and not spot

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    • Now for rest of that story.. BDI was down big time.. As Capes were down over $4k per day.. As shav pointed out.. Capes not big impact to Drys.. But if rates for capes would have continued higher... They had already made rates for Panamax, quit falling.. Even went up a little in last few day.. But yesterday Panamax went back to doing what they have done about everyday, since Dec 24th.. They dropped.. In last wk. I had been questioning? Where idiots, telling us things would be better for drybulkers in 2014?? Now am convinced.. They are just idiots.. Things ain't getting better.. They have already got worse.. And could get lots worse? If you check, those Capes of Drys.. Got 3 contracts of like $23K, $26K +$26K+ that expire this yr.. If they have to release them at what they leased the last one for $11.5K per day? Instead of making money.. They will add to loses? We really don't now what fleet of Panamax are leased at.. As spot rates are for like 4/6 mths.. Right now. Could have some or all leased at $7K per day. Or $18K per day? If you check 4th qtr results... All of Drys, bulkers averaged, (TCE) generated $13.3K per day.. Now with rates for panamax at $8.5K.. If I owned any.. I would be doing the same thing GE is doing.. Selling the hell out of it... Who, in their right mind.. Would buy a stk.. With 400M shrs outstanding, and getting diluted futher.. That lost $223M last yr.. And seems, things are getting worse?

    • you can't expect idiiots to mind the details

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