If you study all these drybulkers.. The common stk holders, were nothing but free money, for the ones who carried them public, while they made their fortune.. When all this plays out.. Bunch of rich Greeks.. Still owning shipping industry..And. Bunch of broke, stk investors..Kicking tin can down the street to hear any jingle.. Sure won't be none, coming out of their pocket.. Before Geo. E. figured it out, how to make billions, off millions of dummies.. He made a statement to effect..h Who would be dumb enough, to pay these prices for a drybulker stk.. Since then he has sold about $2B worth of Drys stk..And has lenders on the hook for about another $1.5B.. Can't blame GE for taking money, if people want to throw it at him! If you can't figure out Drys, is basically worthless.. Ain't GE's fault.. He's not obligated to tell you but once.. He has already basically stole Orig from Drys! Wake up and smell the roses.. They don't smell like roses no more.. More like what, you fertilize with..
Don't have any idea, where to see them all.. But they do post BDI..In Drys website, every morning as Daily mkt report.. That shows what rates for Capes, Panamax, + Supramax done..And they do have a chart that shows, what those 3 done every month.. As far as Drys and DSX.. Don't miss fact.. That rates for Panamax set all time low in mid july at $3.3K per day...How Drys and DSX stk price has held up so well is mystery to me? Well not really.. I know how stk prices have held up.. Drys basically lie about their loses.. DSX + NM officers selling common stk holders down the drink, selling preferred stk.. Common stk holders ain't got a clue, what officers are doing to them? They will when lenders + preferred stk holders, end up owning 99.5% of company, as just happened with EGLE..
What I point out.. They shouldn't be consolidated.. Read 2013 1st qtr ER..It's in Drys website. They have been completely separated..
Why did you forget to mention, With DSX losing money, Last 3 Panys returned got re-leased at about $1K per day less when they got returned..
I just read thru it once.. And I know this ain't the way it will work out.. But sounds like all debt has been wiped out.. And major stk holders.. Are donating 4 Capes to start over again.. Now if all the stk that is going to be outstanding is existing.. That's one thing! If ones donating those 4 Capes, going to get 100's of millions of stk.. That's another... I've got so I got such a distrust for all drybulkers... I will wait and see what happens? This would be a good time.. To find an honest bunch, wanting to build a Drybulker, as seems about all of them are going to go thru BK..
I don't dwell on Capes as I figure Not too much effect, with what they are doing.. While you point out that one, went from $10K to $20K. Why did you fail to mentioned the 2 leased at $26K per day, that could have been returned in Aug? And if they have been released? Most likely at $16K per day, or less? And why don't you tell us what those 10 tankers will average for 3rd qtr??
Well yesterday, rates for Panamax did go over $7K per day.. Sad part come off $3.3K per day, couple of mths ago to get there.. And still $200. per day less than a year ago... In 2013 never saw them drop even close to $3.3K per day.. And Drys still lost $223M in 2013... I personally think.. Drys will report worst qtr ever as far as revenues, for 3rd qtr?? Of course the way they roll Orig figures in with Drys.. Be hard to figure out what Drys loses really are? Anybody that didn't read 1st qtr 2013 earnings report.. Wouldn't know, Orig figures have nothing to do with Drys....
Good luck dumb arz.. Rates for tankers come in at $15.6K per day in 2nd qtr.. And spot rates for Panamax, ain't averaged over $5.5K per day in 3rd qtr.. Been as low as $3.3K.. Now like $6.8K.. As for divvy.. I am surprised with debt, GE has pilied on Orig.. Lenders are letting him continue paying a divvy.. Which basically flows to him.. As far as EBITDA.. I think that's the biggest bunch of BS I ever saw. Who the hell would care what earnings would have been. Before interest, taxes, depreciation and amortizations are figured in? Granted: depreciation is sort of like tax free money.. But don't believe those bulkers ain't depreciating.. Salt water and barnicles are on going fact of life..
And you can carry that to the bank.. If Orig generates $300M in revenues.. Unless they sign a contract to replace that revenue.. Don't take a genious to figure out backlog, will drop $300M.. Now put your dunce hat back on and go stand in corner.. Don't give me that look! I'll slap you bald headed!!! And you don't look that good with that little fuzz, that ain't already been slapped off..
Now I will explain, why that is just an idiot, trying to sell you these worthless shrs, in a drybulker... I have concluded, they are all a worthless POS... Dsx has been selling common stk holders down the drink, selling preferred shrs.. In mean time.. Biggest concern is those 20 Panamax they own.. OK spot rates for Panys have been going up.. Big deal.. Gone from $3.3K per day.. To now..Like $6.8K per day.. Now you figure out what that will do for dsx? As they been getting like $9K-$10K per day.. While DSX already reporting pretty serious loses.. Last 3 Panamaxes returned, got released at like $1K per day less.. Unless you got a crystal ball? Don't bet rates will go higher.. What you can bet on.. DSX will lose more money in 3rd qtr, than they lost in 2nd qtr..Yet we got idiot, trying to tell us.. This is buying opertunity?
And as for Orig.. GE may have Orig in as bad a shape as Drys? They been chawing on that $1.3B contract for over a yr now.. They indicate its a sure thing? I ain't sure.. Read what they say..If you remove that contract.. Orig backlog dwindling fast.. As they ain't getting new contracts signed.. That don't deter GE from running up debt.. Just recently ordered 2 new rigs..Is that because, his private Co. Gets 30% commissions when ordering them? In mean time.. Drys + Orig debt, is over $6B... If you ain't smart enough to figure the over $3B stk holders invested.. Is long gone.. Then put on a dunce hat and stand in corner with Audio..
Now if we woke everybody up..If you go back thru Drys past earnings reports..Last time Drys reported earings vs loses.. Drys fleet of bulkers were generating over $30K a piece per day? But little confusing.. As Drys still owned Orig.. And legite, they rolled figures together.. But 1st qtr 2013, they stated.. Drys and Orig completely separated.. Read 2013, 1st qtr. earnings report..Its in Drys website...Then realize.. Just how bad a shape, Drys is in, with where rates for bulkers are now.. It's not a pretty picture, for the ones who bought over 400M shrs of Drys stk.. And GE sitting there ready to sell another $87M worth? If Evercore will sell them? Mystry there.. As he didn't sell any shrs in 2nd qtr? GE got rich, selling idiots, shrs of Drys.. Not like him not to sell all the shrs, idiots will buy at decent pride.. Prices were decent in 2nd qtr...Did Evercore realize Drys is a POS? And refused to sell any more of it??? Now you can believe this or not.. I had thought Evercore should be sued for selling that Drys stk.. Any reputable broker, should know its basically worthless? Maybe it took, them a while, to realize, GE don't always tell the truth? It's one thing if Drys still owned Orig..Another, that they don't..
I for one, Know that won't do diddly squat, for Drys.. In fact, its negative.. Drys had 2 Capes leased at $26K per day.. That could have got returned in Aug? If released at these rates.. Just adds to loses.. Your right about one thing.. If you snooze you lose..
Actually I probably wouldn't pull or bite your ears off.. But rest of your head would be one hell of a mess...
All, I got to say about that! BS!! I'll bet they are.. What you haven't come to realize.. I read everything Drys reports, real good.. Oh Geo, threatened to pull them out of pools.. But never did...
You know what that means for Drys.. Not diddly squate.. They had 2 capes, that could have got returned in Aug..That were leased at $26K per day.. If released at $17K? Not positive!.. Just looks to me that business week has hired an idiot, That is too lazy or too stupid to figure out where drybulkers really are.. With rates for Panamax at under, $7K per day.. And drybulkers been reporting loses for last few yrs.. When rates for bulkers lot higher than now! This just sounds, like another idiot, that's been telling us for last 5 yrs.. Rates for bulkers getting ready to turn around.. Big Deal.. They couldn't go much lower, than they been for last few mths.. Why did he miss, that rates for Panamax come off $3.3K per day in last couple of mths.. And have doubled? Hell rates for bulkers could double again from here.. Still wouldn't make Drys profitable..In mean time, just as good a chance of rates going down, as up? We been hearing for yrs. how they are going to go up.. As they kept falling.. So maybe eventually they will go up and stay there for long enough, to matter? But I doubt it?
They may be in position to take advantage, as rest of drybulkers, try to work thru their problems.. Hell Ship done been wiped out.. But still trading, on Nasdaq, with no bulkers.. But could start back up in Sept. With no debt, and 4, 7 1/2 yr. old Capes.. That they state, major stk holders contributing?? Contributing my arz. Taking stk? But they state outstanding shrs. Like 12M shrs.. If that includes what major stks holders own? Those 4 Capes worth lot more than $18M?? Those 4 Capes could become profitable, right away? If so, they will be only drybulker reporting profits?? I sure ain't suggesting buying any drybullker.. But looks like Ship, done been run thru ringer.. And are in position.. That they may be able to pick up bulkers cheap.. If the ones running it, will let it operate and not be taking, all the money, before its earned.. All I am saying.. Its worth watching right now.. I ain't even sure, they will get those 4 Capes in Sept? But if they do.. With no debt, and if shr count is $12M? It's interesting at best? F these other Drybulkers..They are up to their arz in debt, and no way they can report profits.. With what bulkers are leasing for... Right now common stk holders equity may turn out to be what Egle's turned out to be 1/2% of !%.. Egle, Ship, Newl + few others, done been flushed.. Will we see same results for Drys, DSX, NM and others, that haven't been flushed yet?
Oh one of us are a lier and idiot.. Just don't happen to be me! Drys on YE report.. Were ones who stated Drys loses for 2013 were $223.. Actually states loses attributed to Drys, was $223M, in 2013.. As for figures for tankers, I think they are a joke..I think they can change those figure, to their likings.. First qtr generated $43M, and operating expenses $21M.. 2nd qtr, generated $36M and operating expenses $22M.. When millions of dollars involved.. People shouldn't ignore figures like that.. And if rates for Drys bulkers, average $12.5K per day in 3rd qtr.. I will kiss you arz on main st. And give you wk. to draw a crowd... Be more like $10K, as I stated.. Hey us joe six packs, don't know where to check out what tankers are leasing for.. Why don't you tell us?? But don't think this JSP, has forgot several mths ago.. Yall reporting they were leasing for $100K per day? Not calling you a bald faced lier.. But if you ever saw rates, that high.. Never showed up in Drys results.. But Pools, take part of money, Then I guess GE's private Co. Cardiff, could be taking that much.. That out of $100K per day.. All that flowed to Drys in 1st qtr.. Was $24.7K per day? Drys TCE for those tankers in 1st qtr. was $24.7K per day.. 2nd qtr. $15.6K per day... All I can tell you if they were generating $100K per day! Not only does GE own Cardiff who leases them to pools.. He has big ownership of those pools.. No wonder, he has become multi billionaire in last 9 yrs.. Slick as an eel..
I very well remember the Panamax bouncing at $7.2K per day, a yr ago.. And rates were bad then.. Now have bounced back to $6.9K per day..They were bad then and bad now.. So pay little attention, to people pumping these drybulkers based on what bulkers are leasing for.. All drybulkers are losing money.. And looks like going to continue? Now about a yr. ago, rates for Capes took off and spiked from about $15K per day, to $42K per day..Rates for Panys followed. Spiked up to $18K-$19K per day. Didn't do drybulkers, much good.. As rates dropped as fast a they went up..Other than Drys TCE for their bulkers in 1st qtr, went to $13.5K per day.. By 2nd qtr. Back to $12K per day.. Now in last few mths.. Seen rates for Panys drop to $3.3K per day..That will have as negative effect on Drys and DSX 3rd qtr results, as when they, spiked up. As big portion of their fleet are Panamax...What spot rates for Capes are, don't effect Drys much.. They keep them on longer term contracts, at fixed rates.. And Drys only has 2 Supramax..Even if rates do spike up in Sept as they did last yr.. Wouldn't help 3rd qtr results.. Drys TCE for 1st qtr=$13.5K per day.. 2nd qtr= $12K per day..Be lucky if they come in for 3rd qtr.. Over $10K per day? BTW: Drys lost $223M in 2013.. Things, may be worse, In 2014?
And those 21 shrs, were probably sold by someone with name like kemmy.. And bought by someone with name like osu, lisa, or one of those audio IDs...