Yes, here it is... of the $2.23B in revenue expected next year, ORIG will be $1.92B of that total. So you must remove $79B of that since other people own that chunk of ORIG. Then you have to know that ORIG doesn't put any of it's cash flow into DRYS other than through dividends. So hope they don't cut it. They should be okay as long as Petrobras doesn't implode on scandals and low oil prices.
What? $2 billion in revenue? That's a lot!!!! But wait, isn't some of it ORIG? And don't they only own 59% of that? Why should DRYS move with the price of oil anyway? They don't get paid any more or less when oil moves up or down.
Maybe people realize that AN ANALYST that WORKS AT GOLDMAN made the call not the Board of Directors or Blankfein or any one with any actual brains.
Says the debt problems are tied to the price of oil. No drilling contracts have any provisions for the price of crude. Now if he is implying that persistent low oil can lead to debt problems if there is a dearth of contracts, that's one thing, but he seems to be saying the price of oil is involved directly.
Then, the 2016 equity issuance possibility? REALLY? 2016? Why don't we finish up 2014 first?
Irrelevant as far as cape earnings, yet. Valuations however are crashing for the class.
And you can bet that every one of the "clients" GS has was sent this sell rating long before they made it public. Those clients are long gone and went short in the a.m. yesterday. So the net effect now will be the retail reaction, not institutions.
Last call by them was an upgrade. What, a month ago? Sell the month before. Today, oil won't drop so they will put out an upgrade later.
LOL! Maybe they think they'll cut the dividend and that low oil price hurt drillers.
First, yes, it's big lie if you are referring to NAT's tankers, suezmaxes. VLCC rates rolled over today, back to $90k.
Your math using $100k a day is not relevant to NAT since they will average about $35k a day for Q4.
Rate for Suezmaxes have NEVER reached $200k a day. VLCCs did for a very brief time about a decade ago. Now there are hundreds more of them.
And yes they do have debt. About $280 million in debt.
Pumping is one thing, lying is a different matter. Being generally misinformed is a shame as this industry is rather transparent.
DHT holds those close to the vest. They tell you some are on time charters, but not to whom or for how much. They have never given those out that I recall. They should. It's not a big secret.