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DryShips, Inc. Message Board

  • audiophul audiophul Jun 6, 2014 2:29 PM Flag

    Here's what is likely with the bond...

    Pay down a portion of it, say $100 million, roll the rest into a new bond with 7/8 years to go. No problem.

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    • So now you've moved from lying about a bond default not mattering to wishful thinking... DRYS has been trying to roll it over but no one will take the risk... would you take the risk knowing that Dry Bulk Shippers have once again ordered too many ships?

      In a few years, the market will be flooded with ships again... you can thank companies like SALT for that. Bankers and lenders hire analysts to assess risk and I guarantee that they see risk for Dry Bulk Shipping in two years when all those ships start getting delivered... take a look at SALT's new-build orders as an example. If I were a lender, I would not issue a new bond to a company like DRYS which has performed so poorly and with the market headed for oversupply in a few years time. Many of DRYS panamax ships will be considered inefficient to transport cargo through the Panama Canal by then since expansion will have concluded... that will result depressed rates for non-Post-Panamax vessels.

    • wonder where they'd peg the convert price under that scenario. DB is raising money, they probably need the $100M Haha

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