Capes have bounced, up to $17K per day.. Drys had 2 Capes that could have already been returned in Aug.. That were leased at $26K per day... If they done been returned and released.. We won't know till we see 3rd qtr results, what went on with Capes.. But as things set now.. They have or will get released at lower rates... Now for all those Panamax on spot.. Now leasing for $6.5K per day.. That's about, what just operating cost per day run... Don't leave any money, for debt, depreciation, General and admin. expenses.. And then, of course those 4M shrs, GE issued himself in 2nd qtr, as bonus.. And keep this fact in mind.. In last couple of mths.. Which could greatly impact 3rd qtr results.. Spot rates for Panys, dropped to $3.3K per day.. No need to discuss Capes.. I figure, the ones, trying to convince you to buy Drys.. Are ones who got caught, sitting on lot of those 413M shrs.. GE has already sold into mkt.. BTW: He is still sitting there with $80M worth of Drys stk, he could sell into the mkt, at any time.. Now if you want to buy Drys.. Try to figure out where the $123M went from sell of Orig stk, in 2013, Drys sold. And the sale of about $120M from sale of Drys stk, sold in last year...
I just checked.. Bdi, hasn't been posted, today..And you are going to burn in hell.. For even indicating, rates for bulkers, ain't about as bad as they ever been.. Last couple of mths., rates for capes have been bouncing.. They had big bounce last wk.. So they don't look too terribly bad, right now... BTW: $16K per day ain't nothing to get excited about.. If those 2 Capes got returned in Aug.. They had been leased at $26K per day....If they got them released at $16K per day.. That would be $20K, per day, less in revenues..If everyone, else is like me.. They have forgot about Drys ever getting back to profitable.. Drys concern.. Is can they survive?
I suggest you read those, warning on earnings report.. Concerning anything these drybulkers report.. They even tells you laws protecting them, If what they tell you ain't the truth.. There book value, should be based on vaue of bulkers and tankers. You are aware Drys is pure shipping Co..And do own stk in Orig.. And if oil continues to drop.. GE done said Orig looking at problems with weakness in mkt for rigs.. And that was when oil was over $100. per brl.. As of right now oil, has already dropped to $92.77.. The value of that Orig, stk. could see significant hit, before long..And don't forget, he has already, pledged mayby 10% of that Orig stk that Drys, supposidly owns,, to lenders.. To cover covenants on loans on bulkers.. As value of them just keep dropping.. How much better shape you think Drys in now.. Than beginning of 2013? In mean time.. GE sold $123M of that Orig stk. Sold about $120M of Drys stk.. And we really ain't sure how much of that Orig stk, has been pledged to lenders.. In mean time GE just keeps piling debt on Orig.. Their long term debt is now. $4.4B and ""Other Liabilities" are $695M.. That my friend.. Is over $5B.. Everybody should study Orig's backlog.. It looks mighty shaky to me? And GE, just recently ordered 2 more rigs... Of course, money paid up front, is borrowed money, that for 3 yrs, interest will be getting paid on.. But first monies, Paid as money comes in.. Will be those "Other Liabilities".. I figure that is money owed Cardiff.. For the 30% commissions they charge, for saying build us 2 more rigs, like the last one.. What a racket, ole GE has set up.. 30% of $1.3B is a nice chunk of money.. And then he gets 5% of revenues they generate.. Not a bad payday there.. Orig generated over $400M in revenues in 2nd qtr.. Up till 2008.. Drys was set up to making that money.. GE, figured out where the money was. His private Co. Cardiff..Started buying, selling,and leasing everything.. Drys, earned about $17. a shr, in 07.. By 08, Nada..
As drys has done pledged, maybe 10% of that Orig stk to lenders.. No way in hell, Drys will get that stk back with money they are losing.. I already consider that stk gone? And with debt problems Drys has.. In next 6 mths.. Look for GE to sell or pledge, lot more of that Orig stk.. If you think, that $123M of Orig he sold in 2013, and all that stk pledged to lenders.. And the $120M he has recently sold of Drys stk.. Have Drys debt in check.. I think, you are living in a dream world.. I figure most of that money flowed to GE? My god, he's got to live.. In mean time, that debt ain't going anywhere, as Drys just keeps racking up loses...
In mean time.. Don't think I was oblivious to all those call options, yall had sold in 2011.. As Drys went from over $6. to about $3. Funny part, nobody was smart enough to buy any puts, as yall just kept pushing it lower... Now game has changed! Selling about same amount of puts as calls.. Now will true value of Drys, come into play? If so. Drys aint worth $1. a shr... But got to be a lot of brokers sitting on lot of those 413M shrs outstanding? That's why I tell Joe, not to believe a word yall say!! Yall are lying, greedy SOBs... Yall are types that would steal pennies off a dead mans eyes.. And low and behold, if they put knickles of dimes on his eyes.. You could gaurd that body 24/7.. Bet yall would still figure out how to steal, those knickles or dimes..
In mean time.. While sitting and drinking.. Got nothing better to do but, study drybulkers? Reality.. They are rather transparent.. If you take the time to study them.. By the way, kemmy, glad to see, you used old lisa"s ID again.. Sort of like talking to an old friend... Hey tomorrow, just for old times sake,, Make at least one post as that irritating Osu.. That was most irritating ID, you ever used..
You better realize, how many have already been flushed.. Not that they ain't still trading.. What the F. Lenders made a small fortune selling 100s of million shrs on Newl... That ain't never been worth, a hill of beans... With the fortune debtors made off Newl.. At best Newl, ended up with little debt.. And couple of bulkers.. That they can't lease at profitable rates..Now its showing it's true value. Now lets watch Egle.. And glad I ain't got $100M to play, against manipulators.. Who may have billions or trillions backing their Play.. Cause, if I had $100M.. I would bet it all.. I know all these drybulkers are basically worthless.. On flip side, manipulators with billions, can squesh you like a bug...In mean time.. Just how much of these worthless Drybulkers stk.. Do they want in their portfolio? I figure only ones left now.. Are idiots?? Smart ones, done, done their thang.. And moved on... These dumb SOB's still hustling these drybulkers stk. Will eventually, see the light..
On that note.. DSX is up today? Take my word for it.. Its just BS!! Hell they started reporting loses every qtr, over a yr. ago.. And things, just keep getting worse.. They are doing better than lot of others.. On the surface! They do seem to lease their bulkers, On term leases, way above, spot rates? Fine! Now if you check.. While losing money, at what they had all those bulkers leased for... While they got last 3 returned.. They did lease them out again, at way above spot rates.. But about $1K per day less, than they had been generating... Bottom line.. Loses just going to go higher. But not to worry about SOB's running DSX.. They recently sold $60M of Preferred stk, that can be uses to cover their compensations, or anything they chose to do with that $60M.. Now let me explain.. Preferred stk holder got first claim to any assets.. According to what, DSX has been reporting.. No reason in hell, they needed to get that $60M at like 9% interest? Now read last couple of DSX ER's..Officers could actually spend that $60M on dope and hoes.. But interest on that money.. And they explain it very well in qrtly report, come out of stk holders equity.. What idiot would pay anything for DSX.. Let alone $10. per shr?? In mean time.. This is one interesting game!! Just be sure and read ER's and keep up with what bulkers are leasing for.. But to appreciate what rates for bulkers need to get back to, before any of these drybulkers, could possibly get back to profitability.. They do have all past earnings reports in their website...
I think only reason Egle is trading at $1.20.. People haven't figure out it ain't worth nothing? In watching as all these drybulker, stk holders, are getting wiped out.. And lenders, end up owning them.. Just to obsolete existing stk.. And then reissuing new stk... Not, that I'm going to try to figure out, what existing stk is really worth.. But that existing stk that is trading, I bet it ain't worth 5C.. The lenders. thru existing stk holders, 1/2% of 1% of something? Guess who are fat and happy.. The same bunch of SOB,s that drove EGLE broke.. Still in charge, and pulling their compensations... Hey banks lend money.. They don't run shipping Companies.. Bankers got took to wood shed.. When bulkers were leasing, at decent rates.. Now what are they to do??
Sure don't surprise me.. In 2008, he cancelled $2B worth of bulkers, with lucrative long term contracts signed.. Drys stk holders took hit of about $1B, from that BS.. I figure all those bulkers went to GE? To much happened, in 2008.. To explain.. Anybody interested in buying Drys.. Should, try to figure out.. How Drys went from making all that money in 2007, to losing money in 2008.. Bottom line: GE done figured out stk buyers, just suckers, to be fleeced.. And what a fleecing! Since then, Has sold over $2B of Drys stk.. $1B of Orig stk. all earnings, went somewhere? And he has lenders on the hook for about $6B.. If you read ERs for 2013.. Drys took hit of about $100M on 6 newbuilds. they got rid of.. . GE even fessed up.. After Drys had paid, lot of building cost, and thru in additional cash.. Associate of Drys took 2 of them.. Why didn't he just admit, he took them.. That fleet of bulkers GE owns.. Were paid for from billions invested in Drys stk.. Now GE owns them.. Drys owes debt.. GE, ain't the idiot in this crowd.. It's the idiots, that keep buying all that stk he keeps selling... Hey, Drys can't continue to operate their fleet, at todays rates.. But if fleet was basically built for free.. Like GE's was.. He may be making money at these rates? But you can bet your arz.. Drys can't do anything but, eventually go BK! As it seems, GE's specialty, is carrying drybulkers public and then filing for BK.. He should be in shock, as to how much of Drys stk, he has been able to sell.. And then, how much lenders, have lent him...BTW: All that money, has disappeared.. And GE, ain't personally responsible for any of it...
I have told people where to check.. What I say.. They can decide for themselves what Drys lost, last qtr.. With what reported. I say Drys lost $75M? "The Co."" figures are nothing but BS! As far as to where money went.. I think Cardiff, GE's private Co.. Buys and sells ships and rigs.. And charge Drys 30% commissions, when buying and selling.. Why did Drys keep ordering bulkers? After it was very evident there was no demand for? I think right now.. Stk holders are paying for money GE was taking, when no one was paying attention.. I just read 2010 4th qtr results.. Drys reported $99M In NET Earnings.. Assuming results should have been close to that since 2008.. BTW: In 2008, was when he really put the shaft to stk holders..But if Drys was earning that much after GE was taking big portion, of revenues.. In last 3 yrs, since 2008.. Net earnings should have been about $1B? In mean time he had sold at least $1B more of Drys stk in those 3 yrs.. So why didn't Drys have the money to take delivery of 1st of those 4 rigs arriving in 2011? If all that money hadn't mysteriously disappeared? But while people weren't paying attention.. He sold 22% of Orig, for $500M.. And since then borrowed another $4B against those rigs.. That for all practical purposes.. If all the money won't disappearing.. Drys should still own all of Orig....And at best, debt may should be $2B.. On that note: GE would still made a lot of money!! But nothing like billions, and owning one of worlds biggest art collections.. He invests his money wisely.. Art just keeps appreciating.. All these bulkers, That all those Greeks, ordered with Stk holder + lenders money , Now obviously no demand for.. All they are going to do is depreciate and rust away.. But don't think, GE ain't going to milk it Dry.. Hell not only he's got money from 1st $2B from sales of Drys stk.. He just tricked idiots, into buying another $120M worth.. Where do all these idiots, come from? Hell thousand dollars, is lot of money to me!
The only ones who actually got a divvy.. Are the people who own shrs of Orig, that aren't owned by Drys.. Drys never paid no dividend... That divvy, Orig declared was brilliant move by GE.. For himself! So far he is paying out about $20M.. That $30M going to Drys, is nothing more than GE taking it out of one of one pocket and switching it to another.. Actually, that's the only way, any money from Orig can flow to Drys.. Lenders made him completely separate the 2.. Read 2013, 1st qtr earnings report.. Its in Drys website.. Actually stk holders should be able to sue GE for falsifying earnings reports.. He indicates "The Company" is Drys... But Drys and Orig assets + financials, have been completely seperated! Yet he took the $69M Orig reported as earnings.. And "the Co" reduced what Drys lost last qtr, by $69M.. Best I can figure out.. Drys lost $75M last qtr. And that would have included the $15M from Orig... In mean time GE getting himself more money, selling Drys stk.. OK he's paying out $20M.. In mean time. last reported.. He had sold about $120M of the $200M worth of Drys stk, he announced about same time as he mentioned, Orig may pay a divvy.. BTW: He averaged getting $4.14 a shr for the 33M shrs.. He has sold.. Still got $80M he could sell at any time.. By the way.. That 33M is incorrect number.. He said he didn't sell any in 2nd qtr.. That 33M figure includes, the 4M shrs that went somewhere in 2nd qtr? They reported like 409M outstanding shrs for 1st qtr.. Like 413M for 2nd qtr.. I haven't added it up.. But since 2007. Drys and Orig. have probably reported over $10B in revenues, sold over $3B in stk.. And have lenders on hook for about $6B.. Before, I would buy another shr of Drys.. I would want to know where all that money went? Clue: GE has become multi billionaire, and owns one of worlds, largest art collections.. Big hearted devil.. Finally pays out $20M, to Orig stk holders...
If anybody is paying attention.. Look at BS these idiots post.. To keep that relivant post of mine, from being payed attention to... I for one know, half of stk holders in drybulkers stks, done been wiped out.. Just a matter of time for rest...Just start with EGLE, then Newl, SHIP, and few others, I can't remember names.. Oh, original stk holders done lost their investment... But as these drybulkers survive, on stk holder investments.. Hell they will walk thru fire to keep them trading... Bottom line.. Ain't no profits in drybulker business.. Lot of money.. If you can sell enough stk! Which seems Geo E. has made billions, doing... I think GE belongs in prison, lot more than Bernie Madoff.. I think Bernie, started out with good intentions?? Over 30 yrs.. He lost control? I ain't sure GE ever started out with good intentions? Maybe he did.. Maybe he didn't.. Regardless, in 2008 he become one greedy SOB.. And make no mistake.. He could have become wealthy, without carrying Drys public..(Mayby) But then maybe not.. But regardless.. He started out with 6, 19 yr old scrap bulkers land has made himself billions.. At one point in time he made a statement.. Who are idiots, paying this price for Drys stk.. Then said.. What the hell.. I'll sell them all they will buy! Now you figure out whre the $2B from Drys stk,sales have gone since then? Along with all those revenues they were generating, when they had bulkers leased at lucrative prices.. Why I think GE should be in prison..When Drys was still very profitable, and owned Orig..That SOB continued to sell Drys stk into the mkt.. Hell he won't just taking earnings.. He was taking all the money from sell of like $2B of Drys stk... Oh, he has that money...Now figure out, what stk holders own... NADA! Make no mistake.. Very fine line.. How much a SOB deserves, Using stk holders money, to grow a Co.. But in this case.. GE, become multi billionare.. And what do stk holders own.. Lot of debt?
What is a stk worth.. That according to summary board earned $1.01 TTM? In mean time read insider transactions brd.. At stk, officers award themselves and sell when stk is up.. Bottom line, to make money on Cree.. You better figure out when, its beneficial for officers to run it up, so they can sell.. And then let it drop, as they reload.. But as there is enough money involved.. Some of officers done made so much money in last yr.. They can live like kings, for a few yrs.. Before needing to ring register again.. Oh, if it was up to officers.. It would probably drop back to $12. a shr.. Which may be close to true value? But hold on! All those hedge funds that drove it up.. May have billions, or even trillions backing any of their plays... They can drive it anywhere they want to...They didn't get billions or trillions from being stupid.. From what I am looking at. Cree should drop below $30. a shr, rather quickly! Now place your bet against manipulators.. With billions, maybe trillions.. Just have a jar of Vaseline available.. Seems they could care less what any stk is worth.. They just want you to place your bet.. As they can grab you by the ear, and say squeal, little piggy, Squeal.. I ain't worth a dam at playing this game.. But then again.. Who is.. Playing with few tho, against billions? I know Cree ain't worth $30. per shr.. As I assume few other smucks done come to same conclusion.. Watch what happens to us smucks money.. If we place a bet it will go down!! Squeal little piggy, squeal!!
At some point in time I may have worded it as Drys has 28 panys on spot.. But ususally say they have 28 panys, which most are on spot.. But make no mistake I am well aware of how many Panys, Drys really own... One of first things that amuzed me about Drys.. When they order a newbuild... They state they own it.. You find any statement they have made.. Whereby they don't state they own 28 Panamax? Personally, I agree with you.. They shouldn't include those 4 newbuilds, in with the 24 they already have.. As far as owning any of them.. What a joke.. Those Panamax, couldn't be worth what is owed on them? If so, why did GE sell $123M of that Orig stk in 2013, that drys owned.. Pledged maybe another 10% of Orig stk, as covenants, on loans being breached.. Bottom line: bulkers, not worth, what lenders had leant on them... As long as there is any equity.. GE is fine... But stk holders are getting their heads handed to them? As any equity is disappearing fast.. What the hell does GE care? He has equity left in that Orig stk, Drys still owns, to play with.. And he can do dam well anything with money from Drys stk, that he is selling.. Along with the Orig stk, he is burning thru..Selling it and pledging it to lenders... GE is one lucky SOB.. Got idiots like you.. Keeping important facts from being discussed.. Wanting people to concentrate on something as trivial, as does Drys own 28 Panys, or 24? While getting they thoughts, off the fact.. Drys been losing over $200M per yr. for a few yrs now.. And rates for bulkers now, worse than any in past yrs... Now if anybody doubts that.. Ain't hard to pull up past results? All past ERs are in Drys website.. And whether anything Drys ever reports, is truthfull, is mystry to me? On that note.. Last year.. I got to reading those warnings they post, on those qtrly results.. ""REAL GOOD"" as I couldn't figure out what happened to money from all those stk sales.. About $3B, and money from billions in revue. And debt now about $6B??
Hey I have explained many times.. They roll Orig figures in with Drys.. And then report Co. results.. But just who is Co? They indicate its Drys.. But don't exactly say that.. But GE never tells stk holders.. Things like this but once.. Drys is pure shipping Co.. Drys and Orig assets and financials have been completely separated.. Read 2013, 1st qtr earnings report... Yet as he continues to sell Drys stk, into market.. Consiquintly, don't want people to know Drys financial shape.. The results from Orig.. Caused Drys loses to drop by $69M, for 2nd qtr.. Now anybody can read what he said in 1st qtr 2013 earnings report.. Its posted in Drys website.. To determine if Drys lost $6M in 2nd qtr. Or $75M? My conclusion.. Drys lost $75M in 2nd qtr.. Even with $15M divvy, from Orig? And if that ain't bad enough.. Rates for those 28 Panamax of Drys.. Rates for them in this 3rd qtr, may be averaging 1/2 of what they did in 2nd qtr?? There are some lying SOB's on this msg brd.. But they are ones trying to convince people to buy these worthless drybulkers... That have been losing money for yrs.. And things, just keep getting worse... Obviously it don't bother yall to sell worthless stks to widow and orphan funds..
In the mean time.. That should tell everybody, What a glut of Panamax bulkers that are already out there.. Even with that demand.. Panamax rates still close to historic lows...And why Drys has been scratching their arz for over a yr. as what to do about the 4 newbuilds, they are having built.. What do you do? When if you cancel them.. You lose money already paid to builder.. And have to pay cancellation fees, on top of that??
And if you check YE results.. Drys lost $223M in 2013.. And they post The BDI in Drys website every mornings as Daily mkt report... It shows what bulkers are leasing for now + a year ago.. Keep this fact in mind as all these people pointing out different reasons, that could causes rates to go up.. They been posting same BS for years.. And rates have continued to fall every year... As far as Drys.. It has seen another big dilution of stk, in last yr.. Shrs outstanding have gone from 380M shrs to now 413M...So why is stk now selling at $3.20.. When one yr ago.. It was selling at $2. per shr? Maybe we will see another big spike up in rates this year as last? Then maybe we won't? Regardless.. Drys lost $223M last year.. And so far, things looking lots worse for 2014..
As usual, you ain't got a clue.. Orig should have been very profitable, in 2012.. As Drys had been reporting good earnings, and sold about $2B of Drys stk, and $500M of Orig.. Those 4 rigs added in 2011. should have been about paid for.. In 2012, when Orig, belonged to Drys.. Drys should have been very profitable.. Now, what happened to all the profits Drys was reporting, While selling all that stk? Seems all that money, just disappeared... Now regardless of what Orig earns.. Drys no longer owns it.. Only way any money can flow from Orig to Drys.. If Orig, declares a divvy! I could care how other people conscew it.. GE has basically stole Orig from Drys.. Hey, When Drys owned Orig.. That's one thing.. But when he announced, Drys is pure shipping Co. and Drys and Orig's assets and financials had been completetly separated.. Just who does own Orig? On that note.. Who has always owned Drys? As one man has took all profits, and money from $2B worth of stk sales.. And have lenders on the hook, for more than assets are worth? BTW: Hard for me to believe that was a 2012 post.. I thought, I pulled up in late 2011.. And was just watching, since then..
All drybulkers are losing big time money.. And going to get worse, with what bulkers are leasing at now! Half have already went BK.. Just a matter of time for rest.. With what bulkers are leasing for.. Got to be big glut, of bulkers.. Regardless of how many go BK..Those bulkers will still be in hands of someone, wanting to lease them.. They have a lifetime of like 20 yrs.. In the mean time.. Drys has 4 newbuild Panys being built, DSX, about the same.. Then you got that bunch out of Monaco(SALT) that have ordered like $3B worth of newbuild bulkers.. Not only is there a glut of bulkers.. Its getting worse! All I can tell you, anybody buying drybulker stks. Don't know how to read.. And believing a bunch of lying SOBs, that profess to know what they are talking about.. With all the debt, these drybulkers have.. And already losing money.. All you are going to see is loses, just keep going up.. Untill officers, who made all the money.. Work out deal with lenders, and wipe out stk holders... Then new game begins! Of course, you won't be involved.. Unless you buy, some of new stk, they issue...