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DryShips, Inc. Message Board

jrmills0014 504 posts  |  Last Activity: 2 hours 21 minutes ago Member since: May 25, 2002
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  • Reply to


    by atwood407 Apr 17, 2014 11:57 AM
    jrmills0014 jrmills0014 2 hours 21 minutes ago Flag

    The people who got rooked into buying these drybulker stks.. Deserve to be fleeced. And that is exactly what looks like..Is going on to me.. They tell you they were incorporated thru Cyprus? Results are unaudited. and tell you laws that protect them.. If what they report ain't true.. Read any of their earnings reports.. Since they figured out how to pull this scam... They have sold as much stk as possible, borrowed as much money as possible.. And all earnings have vanished. .Now they are all losing a ton of money.. I think when they can't sell any more stk, or borrow more money against assets.. They will all be sent into BK? And with rates for Capes at $8.8K per day. And rates for Panamax at $6.5K.. Things are just getting worse.. If DSX's loses ain't greater in 1st qtr..than 4th qtr.. Then they will be lying.. That contract, for $55K per day. That expired on Nov 26th.. Would have been very profitable, for 4th qtr.. Hell of a difference in bulker generating $55K per day, than $10K to $15K..

  • Reply to

    BDI continues down....Down 6

    by londonwhale1 Apr 17, 2014 8:43 AM
    jrmills0014 jrmills0014 Apr 17, 2014 9:41 AM Flag

    And on further thought.. If you check.. I don't believe Drys has ever leased a Panamax, for less than $7K per day.. That will let you know how bad those rates are right now.. And when I say leased.. I mean wrote a contract for a yr. or longer.. We know, obviously, on spot, They have leased some for less than $7K per day..

  • Reply to

    BDI continues down....Down 6

    by londonwhale1 Apr 17, 2014 8:43 AM
    jrmills0014 jrmills0014 Apr 17, 2014 9:28 AM Flag

    Here is something to watch.. Capes have about twice the carrying capacity as Panamax.. So it makes sense to me.. Capes should lease for about twice what a Panamax, does.. If so.. Right now at what they are leasing for.. Capes have now, dropped, too low? As I can't imagine those Panamax, going lower.. Those are pitiful rates already.. In the history of Drys.. They have never leased a Cape for under $10K per day.. And that has only happened once... Next worse rate, was the one they leased last yr, around July. For $11.5K per day... You better realize one thing.. If rates don't bounce back.. All these Drybulkers are toast.. They got too much debt, to operate, at these prices... All they can do, is keep, losing money and increasing debt... Untill there is no way to raise any more money to cover loses.... Personally, I think it would take a fool, to buy any of these drybulkers??

  • Reply to

    BDI continues down....Down 6

    by londonwhale1 Apr 17, 2014 8:43 AM
    jrmills0014 jrmills0014 Apr 17, 2014 9:02 AM Flag

    Yep finally a little good news on Panamax.. They have went up over $250. per day in last 2 days.. Now for bad news.. In last 2 days.. Capes are still dropping. In last 2 days, down another $1500. .Now since first of yr.. Have dropped from $38K per day to $8.8K.. Now with this little bump for Panamax.. They are only down from $18K to $6.5K, since first of yr...

  • jrmills0014 jrmills0014 Apr 17, 2014 8:38 AM Flag

    And if anyone don't understand what he is saying.. All of Drys past earnings reports are in their website.. As press releases.. And they tell you what outstandings shrs are... Even when Drys was reporting earnings.. And people weren't that concerned about dilution.. From 08 till end of 2010.. He diluted it from 35M shrs to about 300M shrs.. Since then, with this dilution.. Shrs outstanding should now be about 450M shrs.. Yall keep buying this stk.. GE will sure sit over there in Greece.. And spend your money.. Hell when he had it all sturred up.. Ordering bulkers.. Cancelling them, buying Orig, selling it to Drys, and so on.. He had enough money to buy up one of the worlds largest art collections... And when you got that kind of money.. You are one rich SOB!!! In mean time: All earnings from Drys + Orig have vanished.. About $3B from sell of stk has vanished.. And They are sitting here with over $6B debt.. If you add in that $700M of Other Liabilities, to that $5.5B debt... Cute part in all this.. That Art, you bought for GE.. Just keeps appreciating.. Over time.. Bulkers just turn into scrape.... When you get this next earnings report.. See if you can tell where any of this $200M worth of stk he is selling now, WENT! He is right about one thing.. Investing in art.. Lot better investment than investing in drybulkers, that were incorporated thru Cyprus.. And results. Are unaudited...

  • Reply to

    Worried about rates?

    by audiophul Apr 16, 2014 3:52 PM
    jrmills0014 jrmills0014 Apr 17, 2014 8:03 AM Flag

    Hey village idiot, bump this.. In 2013 Drys lost $223M.. They state that in 4th qtr earnings report.. In 4th qtr when rates were higher than we have seen in yrs... Drys lost a lot of money.. Now: Rates for Capes would have to go up 4 fold (4X$9K) and Panamax, would have to go up 3 fold (3X$6.3K), for rates to get back to where they were at first of yr... And Drys would "still" be losing a ton of money... Joe in mean time.. Don't let idiots blow smoke up you arz.. Earnings are coming.. And rates, for bulkers just keep dropping.. And all these bulkers are reporting loses.. And debt just keeps going up!! Now those are fact.. Not some BS, about China, may start importing enough of anything, to drive up rates for bulkers..

  • Reply to

    Tomorrow close to a given.....

    by dennisolexa Apr 16, 2014 11:38 PM
    jrmills0014 jrmills0014 Apr 17, 2014 5:14 AM Flag

    No way in hell.. Mkt will be up today or drybulkers.. IBM's ER will hurt overall mkt.. And the drybulkers haven't even begun to reflect, the drop we have seen in BDI.. BTW: Most articles coming out of MF + SA.. Seem to be wrote by people who are out of touch with reality and what is going on with drybulkers...

  • When you read where idiots are telling you rates have dropped like they have, because its seasonal.. Check out that chart... Don't seem there is no correlation to seasonal and rates going up and down.. Seems some people just run their mouths to hear their brain rattle... And then: They expect rates to improve.. Well I would sure as hell hope so.. Since Dec. Rates for Capes have dropped from $38K to $9K per day.. Rates for Panamax from $18K to $6.3K + And Supras from about $18K to $9K.. Let rates bounce back a little.. And same idiots, will be saying.. I told you so!!! For newbees: They post the BDI every morning in Drys website as Daily Market Report....

  • jrmills0014 jrmills0014 Apr 16, 2014 9:59 AM Flag

    Drys lost $223M in 2013.. They state that! On last earnings report.. And things looking lot worse now that a yr ago... Going forward.. All you will see is same results as last yr.. This $200M worth of stk they are selling right now.. Ain't doing much more than, covering every day loses.. They been in the process of selling that stk off slowly to keep stk price from collapsing.. Its already been going on about 6 mths now.. Just check, this next ER.. And see, if all that debt.. Ain't still there.. Seems all GE knows is borrowing money.. Seems to have no concept.. If you borrow money.. People want you to pay it back.. Why would he want to do that?? All that debt belongs to Drys and Orig...

  • I can understand why someone may want to gamble on those preferred shrs, they just sold.. For money to use for General Corp purposes.. (Pay Officers).. As it seems they could earn about 9%.. Should there actually be any value in DSX?? BTW: BDI took another hit yesterday.. Capes dropped another $1100. per day.. Now since first of yr. Rates for Capes have dropped from $38K per day to $9K.. Yesterday rates for Panamax went up a little over $100. Still sitting close to $6.3K per day..

  • jrmills0014 jrmills0014 Apr 16, 2014 9:01 AM Flag

    Its really hard to believe how ignorant you really are.. #$%$ rates have been dropping all yr.. Since first of yr.. Capes have dropped from $38K to $9K per day.. Panamax from $18K to $6.3K per day.. And you being the genius.. Rates have dropped this time of yr. As you said they would?? You are so ignorant.. You don't have a clue, to how ignorant you really are... BTW: That BDI has a chart.. That shows what these bulkers, have leased at for yrs...

  • jrmills0014 jrmills0014 Apr 16, 2014 8:37 AM Flag

    Why do you persist to show just how ignorant you really are.. I said Drys main concern was their fleet of Panamax.. Now just so you will know.. Those 12 capes of Drys.. One should have already been returned.. No big deal.. It was leased at $10K per day.. There is one that can be returned this mth.. Its leased at $23.5K per day.. There is one that can be returned in June, leased at $11.5K per day.. 1 in Aug. leased at $26K per day.. 1 in Oct, leased at $26.250K per day.. So as rates for capes have dropped to $10K per day.. And seems, they may drop further? Anyone that knows anything about what is going on.. Will know how asinine. your little input is...

  • jrmills0014 jrmills0014 Apr 16, 2014 7:57 AM Flag

    BTW: In 4th qtr.. Drys time charter equivalent, for all their bulkers averaged $13.3K per day for all their bulkers.. As spot rates are for 4/6 mths.. Drys TCE for 1st qtr, may not be devastating? But going forward.. Unless we see a dramatic improvement in rates.. With where rates are now and been dropping every day for a while... All these drybulkers have serious problems..

  • The fleet of Panamax, Drys has on spot.. Is their main concern.. Or should be.. Now those Panamax are leasing for little over $6K per day... If Drys was losing money a year ago.. You figure out how bad, it will get going forward... With rates for Capes back to $10K per day.. Obviously there has been and will be for yrs, a glut of bulkers.. And Drys is adding 4 newbuild Panamax.. DSX has several newbuilds being built.. And SALT, went public in 2013.. And has ordered about $2.8B worth of newbuilds.. Seems we got a bunch of idiots, running these drybulkers who make money ordering newbuilds?? And bankers just as dumb, to have lent them all these billions to do it with.. The money you have invested in stk, has been long gone! Eventually all the common stk will be stuck up stk holders rectum...

  • jrmills0014 jrmills0014 Apr 15, 2014 3:55 PM Flag

    I'll tell you this once.. There is not any drybulker, worth over a couple of dollars a shr.. The suckers in this game.. Are the ones who bought billions of dollars worth of their stks... DSX is in little better shape than most, As they haven't put but $400M+ debt on DSX so far.. But read thru press releases.. All you will see going forward.. Debt increasing, Paying for newbuilds and recording loses... You are aware.. All these Drybulkers incorporated thru Cyprus.. What they report is unaudited.. Reality.. What they report could just be absolute BS? I don't see one thing that makes me believe rates for bulkers, will ever get any of these drybulkers, back to profitability, for yrs as bulkers have a life of 20+ yrs.. And as they go BK.. The glut of bulkers ain't going nowhere.. The SOB's that got rich, sending them into BK.. Will buy those bulkers up on the cheap.. Bottom line..The suckers, were the ones who bought billions of dollars worth of their stk.. And are lenders far behind?? They lent those slick SOB's in Athens, billions more than assets, may be worth right now... And guess what.. Regardless of how much, bankers have to eat in loses... They will still need these snakes, running things...

  • jrmills0014 jrmills0014 Apr 15, 2014 2:08 PM Flag

    Drys is losing over $50M per qtr.. Only way they didn't report but $24M in loses last qtr.. They took the $30M Orig reported in earnings and "The Co" reported figures of Drys + Orig together.. If you want to know what a crock of BS that is.. They never tell you BS, like they reported in 1st qtr 2013 but once! Drys is pure shipping Co.. Drys and Orig's assets and financials have been completely separated... Bottom line every thing they report is BS!! But if you read warning on earnings reports.. They actually tell you it may be... I think the same goes for all these Drybulkers out of Greece and incorporated thru Cyprus....

  • So analyst estimates are wrong.. They have them losing .09 for 1st qtr... They lost .12 per shr in 4th qtr.. If you check last earnings report.. They had a Cape that was generating $55K per day till Nov 26.. So that Cape had about 2 mths of good revenues + profits.. That are now gone... And there are a couple of those Panamax, that won't come in with as much revenues... And if you want to know how bad rates are now.. Check out BDI.. They post it every morning in Drys website as daily market report.. Capes are now leasing for about $10K per day.. Panamax about $6.3K per day and Supramax about $10K per day.. If we don't see a big improvement in those rates soon.. All these drybulkers are looking at BK going forward.. But what is going to make rates improve?? Seems like there has been a glut of bulkers for last few yrs.. Yet they all kept having new ones built.. Hell SALT went public in 2013.. And are having like $2.8B of newbuilds built.. Drys has 4 Panamax being built.. DSX has several being built.. And rates for bulkers just keep falling...

  • Reply to

    BDI down, again.....Down 13

    by londonwhale1 Apr 14, 2014 9:29 AM
    jrmills0014 jrmills0014 Apr 14, 2014 11:06 AM Flag

    To the rest of the joe six packs out there.. Just hope the manipulators do drive these drybulkers up again.. Which they dam well may? Just don't let them bust you right now.. Keep some dry powder.. As they are driving it up.. No way in hell, I would bet drybulkers will go higher.. But if they drive them up.. There will be a time to "gamble" they will go lower? BTW: At the time us dummies bet any little BS stk like Drys, will go down.. They got billions.. And can drive it any where they want to...When you sit down at poker table, looking around for the mullet. And everybody else is looking at you??

  • Reply to

    BDI down, again.....Down 13

    by londonwhale1 Apr 14, 2014 9:29 AM
    jrmills0014 jrmills0014 Apr 14, 2014 10:35 AM Flag

    Looks like you are only one on this msg board, that don't just post BS, which doesn't make sense.. But I promise you.. These drybulkers are the last place you want to invest money in, right now.. Exspecially Drys! Rates for Panamax were bad last yr. They are now a hell of a lot worse.. According to BDI.. Rates for those 20+ Panamax of Drys, are now leasing for $2500. per day, less than a yr ago.. And Drys has 3 Capes.. That leases run out this yr... That are now leased for about $25K per day.. And rates for Capes have already dropped to about $9K per day. The big question right now.. Just how bad will figures look for 1st qtr... Spot rates, (From my understanding) Usually on spot.. Get leased for 4/6 mths? Where rates have been for Panamax in last 6 mths, is unbelievable.. No way to tell what 1st qtr results will look like... All I can tell anybody.. Ignore idiots on this msg board.. And read earnings reports and keep an eye on BDI.. But going forward.. All thes Drybulkers, are in a world of hurt, with all their debt.. Well actually.. What it amounts to.. Stk holders don't own anything.. If debt is greater than assets... As Geo. makes little statements, like asset values holding up good.. As he borrows as much as he can against them...

  • jrmills0014 jrmills0014 Apr 14, 2014 9:09 AM Flag

    There is nothing to like about these Drybulkers.. But you are beginning to show your ignorance.. The ATM has been going on since Dec 31st.... And just what makes you think Drys may see any kind of recovery in Aug? You really have no idea what is going on.. Just spurting non sense..

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