They don't use logs, moron. This thing will end badly. Maybe you make a couple of bucks, maybe you don't, but it will be gone in a few months. Hey, wheres that whiz bang water to fuel process they were "working on"?
They would not listen. KGET is filing the forms needed with a "purchase order" that they can argue is "real". So tell me skippy, why is the stock so much lower now than when it was first announced that they were doing the tens of millions in revenue that nobody else seemed to want?
And IF it was going to "run hard" on the news of the first delivery, you are in trouble if this is that "run".
Did you see the "bags of pellets"? No. Why is the plant devoid of any life. No signage, no movement. And it's in ARIZONA, not TEXAS as suggest previously. Just more hype and likely lies.
"because the company took on over $1 billion of new debt so larger interest payment charges."
DRYS took on ZERO new debt. ORIG did.
No they DON'T use "logs" they use sawdust scraps, bits and pieces, ends, cutouts and various other detritus from the wood processing industry.
"you forgot to mention the -8% drop in one day in BDI Index has not occurred in several years"
Sure it has.
So when he gets to Long Beach, he'll stand in front of a ship and say, "There they go. You should see them. Bags of logs…err, pellets from New Mexico where they make things."
They were having a plant in Texas do this. Not Arizona. That plant in the back ground was doing nothing. The bags of pellets he was supposed to show were not on the video. And LOGS? They don't use LOGS to make pellets. He probably didn't even have permission to be on that site. That was FUNNY!!!!!
And recently VALE contracted with Shandong Shipping to operate four of their Chinamaxes. Renaming them and flagging them in China is part of the requirements to have some of them call directly on Chinese ports.
Wow. How many times do you need to be told something? VALE has 30 of them that they either own or have chartered in from other owners that need them like Oman Shipping's four vessels. The Vale Beijing that had an issue was repaired and all similar vessels inspected with a few getting strengthened. The "platform" is a repurposed vessel in the Subic Bay that offloads ore from the Chinamaxes/Valemaxes onto regular size Capes for further travel to ports that do not YET allow fully laden VLOCs of this size. The project that matters more is the Malaysian project that comes on line in just a few months. This palletizing, storage and transshipping project is huge and will eventually handle 90 million tons.
About 440 million shares. When they were at $131 (use that number, you'll sound smarter) and there were 42 million shares out, they were projected to earn about $18 per share. The BDI was 11,500 and dry bulk shippers were the darlings of wall street. Now that the BDI is 1/10th that, the street hates drybulkers other than when they tout them to sell them on spikes. So, as the dry bulk market recovers and ORIG begins hitting on all cylinders, which the street doesn't believe right now, DRYS should recover quite nicely. I would wager buying shares now will result in a double, perhaps a triple, by year's end. But FIRST, a little mambo…..
Been talking about these projects coming on line for some time. The rates to ship them is NOT important in the bigger scheme of things. It hovers between a couple of bucks a ton in the worst of times to $20 a ton in the best of times. When taken as a portion of $150 ore at the highest of prices, the shipping is minuscule. At $80 a ton and $10 a ton for shipping, it is cheaper, way cheaper than any domestically mined ore in China and it is profitable, very much, for drybulkers. So here's the likely scenario….. Imported ore prices in China drop. Domestic ore ceases to be used. Tonnage of ore imported increases by a huge percentage, EVEN IF, the steel makers produce a bit less steel than projected. This happens because the domestic ore now makes up 50% of the inputs used to make steel in China. Take that down to 10% and the imports of ore go up by 40%, give or take a ton here or there.