Yes, I do. I expect that the bulker segment will come in at $12k average TCE and the tankers will come in around $18k. Take 35 ships, rest on time charter, and drop them $4k a day and you have about $13 million less in revs. Add back about $15 million from the dividend and they will show a small loss, probably a penny or two.
"The company has upgraded its estimate for supply growth in the so-called seaborne iron-ore market this year to 140 million metric tons from 120 million tons, Jose Carlos Martins, executive director of Vale's ferrous and strategy division, said in a conference call Thursday. Earlier-than-expected production ramp-ups by Australian miners and scant rainfall in Brazil contributed to the increase."
And no, with the bulker TCE likely to come in at $12k and tankers coming in lower as well, there is likely to be a loss. I expect it, so does most that really know the company. But Q3 is underway, started out with some very hot tanker rates and bulker rates, which are always low this time of year as a rule, will start up soon.
Of the $34.4 million loss, $32.6 million was due to the refi. And there was no $15 million dividend payment. But Q2 won't be great, but the dividend will make it tolerable. it is in Q3 and Q4 that DRYS will shine. You guys that moan and groan every day sure have a short time horizon. You probably should be thinking a bit longer term and wondering how high DRYS will go when the dividend they get grows to $20 million and rates for bulkers and tankers spike up.
How much of the loss DRYS posted last quarter was attributed to ORIG rejiggering their loans?
They expect rates to rise.
They bought shares of DCIX.
Says he reads but doesn't exhibit the slightest understanding. Idiot.
If the price stays above $90, the output of Chinese miners won't drop. Some of the smaller miners have ceased production, but the output for the industry is up for H1 this year versus last. That is why rates have not budged. If the big three want to ramp up production, fine, but if they don't drop prices, they will watch it sit at their docks.
Really? Some analyst still thinks about NAV in the shipping sector? Wonder how he feels about people that are underwater on their houses bought in 2007? Are they in good shape since they PAID so much for their houses, even though they STILL are worth half what they paid?