I agree with you. This past week, I bought more NM and NNA. I usually sell a bit of the NM when it has a good run and wait to buy back in on dips. I believe the div is safe so getting over 7% to wait is fine with me.
All of the industry fundamentals point to a 5-10 year period of recovery for demand to equal supply. In the next year, we will definitely see the BDI hit a new all-time low, taking out the last one hit in 1986.
Pretty much all of the current drybulk companies will have to reorganize because rates will be too low to make money and pay back debt in the next 5 years. This will take out all of the current shareholders.