ESPECIALLY since you didn't even know what sort of products FRO carries on their vessels. LOL! You morons and your message board bragging are a pathetic bunch of clowns.
They are ordering eco-designs. Most new ships are designed to consume less bunker fuel and many are being designed for retrofit to cleaner fuels as the restrictions on sulphur emissions kick in over the years coming. 2020 is the big one to watch. While it is somewhat true that demand and supply is balancing, if scrapping stops due to the current higher rates, that equilibrium which is coming but not yet here by a long shot, will be delayed. FRO is not scrapping 15 year old tankers because things are looking rosy.
ORIG won't be as good, however, due to down time from fishing operations on the Corcovado, I'm afraid. could disappoint since the situation on-going since October 18th and some upgrades.
Are you the new board clown? You sound like one. Do you need some big, red, floppy shoes? How bad are you getting killed on this pig and FRO? Did you listen to that moron Lightson1999 or whatever his latest name is and buy these last week?
'l went back to 2006 and realized seasonal spikes happens in january"
Why lie? The chart of the BDI doesn't agree with you at all. And if you knew anything about the industry, you'd know that the BDI from 2005 to mid 2008 was a complete anomaly and taking any data from that time frame is foolish. But then, you do seem pretty foolish.
2009 January - record all time low
2010 January- BDI continued falling straight from 2009 high of 4500 in November to 2600 in early February
2011 January - From the peak in Sept 2010 of 3000, the BDI fell to 1068 on Jan 31
2012 January - October 2011 peak of 2150, fell to 668 January 30th
2013 January - November 2012 peak of 1100, fell to 744 February 4th this year.
Again, why lie?
A loose and lazy source is Barry Rogliano Salles, BRS, a Paris based ship broker. Better is to keep track yourself through new build orders reported at Nilimar or Compass ship brokers weekly. You can pay for subs to sites that have deep data, like Clarksons or Worldyards.
It has not. You just don't know enough about the industry to know that 900 sucks just like a new low sucks. You are a pest with some weird attraction to me.
Now do you mean company or stock for trading? Top company, DSX. Next, NM/NMM. Then SB. These are solid companies with low debt profiles, conservative smart managers and cash and contracts to keep them solid even in industry down turns like we've seen in the last few years.
DRYS would be in the group, but the risk from the CEO and his cavalier attitude is very real and dangerous. On the surface, DRYS would be the best resulting from their ownership of a majority of Ocean Rig. They have some good long term contract on most of their capes. They own a fleet of tankers as well. Their debt is manageable.
They issue shares to anybody and everybody to sell to uninitiated "investors' like those on this board and take out loans at 24%!!!!!!!!! just to keep alive. They are a joke. The next reverse split is likely to come very soon.
' DryShips has more than $5 billion in debt."
No it doesn't. It owns 60% of Ocean Rig so ORIG's debt shows on it's balance sheet. DRYS debt is more in the $1.4-6 billion range for the fleet of 40 or so ships, including the new builds. Completely manageable for them, especially when you take into account the $50 million they will get annually from Ocean Rig dividends. That alone covers the interest on their debt.
The turn in shipping rates happens about five times a year and reverses just as dramatically. You really don't know anything about the company or the sector and are just hoping for a quick scalp. But you are down already, aren't you?
Some will look to sell to lock in gains for the year. Other less fortunate folks, like those that listen to the lying pumpers and rear view mirror traders, will look at tax loss selling. Then the January flood of ships from the yards happens about the same time rates pull back anyway. You'll get this cheaper in Q1, but you'll be closer to the rebound later in 2014. But don't overstay your welcome, 2016 will be a repeat as the order book is simply exploding now.
Greek thieves have ruined this company through greed and ignorance. The losses to investors are monumental and growing. Good job, management. You suck.
They never got one from the last reverse split, why do you expect one from this one? And you better HOPE it actually stays above $1 for the ten days, it has looked very weak lately.