The real audio, the one that really does have the most knowledge of the shipping sector, posts under the ID "audiophul".
This troll you've been reading stole the real audio's ID.
Go back and find the ID audiophul, and you will see he is the real one.
And he isn't illiterate like this guy.
You think Caps Lock make it a fact.
New orders have dropped off.
There are still 250 Capes to be delivered over the next year and a half.
And 260 Post Panamax.
Only 600 Supramax through 2016.
Thats from Compass Maritime.
Where do you get your "facts"??
The BDI is going higher because of a lack of available ships in the Atlantic, but not Pacific.
Try reading a shipping trade paper. Temporary shortages happen.
It's a rally, not a recovery.
Mindless Pumpers do far more damage than shorts.
Tell them to listen to knowledgeable posters.
And then lets expose how little you know about DRYS in particular, and Dry Bulk in general.
Why don't you at least restrain yourself to "bumping" the posts that make a legitimatew point.
Instead of every lame, BS post that is bullish.
Bashers exist. They are not always the same. And they didn't destroy anything.
Except maybe the idiotic arguments made about a penny stock.
""ORIG is a solid company that got beaten down"
It didn't get beaten down by shorts. It got beaten down by the crashing price of oil.
And articles about Deep Water Drill rigs being laid up. Those don't help.
The side of the road is littered with people quoting the P/B and P/E of DRYS over the last 7 years.
ORIG is trading on the fear of crashing rates from a lack of demand. And those fears seem warranted given the news about the consequences of the price of oil,
"Some Mistakes in 2014"???
You need to do more than 5 minutes of research.
He has mismanaged this company from the start.
And the end result was he became very wealthy through his management company Allseas.
And PRGN and TEU shareholders have lost everything.
Run the companies down. Buy the best ships at a discount. Looking like a "White Knight".
Yes, he bought more shares along the way. And Lorretto gets 2% of shares for nothing. Which means Mike gets a seat at the table during bankruptcy. Shareholders get nothing.
And Mike will leave the table smiling, just like Peter G from GNCO.
""maybe until end of 2016 and just past the downturn."
How many times have we heard of this impending recovery?
Those old Panamax he left the company with aren't going to help anything, even if there is a recovery.
The two new Ultramax will do well, for Mike.
Scrapping did increase in the first half.
But as always, when rates rise, scrapping stops.
Try to keep up with reality.
"London (Platts)--23Jul2015/1052 am EDT/1452 GMT
Dry bulk vessel demolitions in the first half of 2015 nearly doubled year-on-year, but tonnage recycling is now losing its momentum as higher freight rates give shipowners an excuse to hold on to their vessels for a bit longer.
Judging by what Bodoroglou just did over at PRGN.
He will probably buy the only ships worth having from TEU, for himself.
He'll pay well below market price, and he'll leave TEU with rustbuckets and debt.
Being a publicly traded ship owner is a license to steal.
What a rip off.
Mike just stole the only ships worth stealing.
At least George Economou paid a fair price when he took the tankers from DRYS.
Wait till you see the write off on this move.
The Pana and Supra were worth $13 million each. And the Ultras were worth at least $22 million each.
PRGN has nothing left. Except some ships on order that they can't afford to pay for.
Everything Bodouroglou has done for the last 6 years has been a horrible move that has cost shareholders everything.
From the newbuild ships that he paid too much for. To the insistence on playing the spot market.
And Boxships is a disaster.
He belongs on the wall of shame for ship owners, with George, Peter G, and Nobu Su.
I thought about NAP.
Angeliki is the only one I trust at this point.
It appears that the dry bulk owners are finally ordering less, and scrapping more.
But if they start ordering again as the BDI climbs, then I would write them off for awhile.
Yeah I know.
I'm holding this.
But for other shipping stocks, it is a seasonal trade. Not necessarily frenetic.
And the Market definitely doesn't get shipping right.
Good to hear from you.
Taking a profit is not nuts.
While we've been lamenting the fact that this stock is undervalued, and under appreciated by the Market, it has remained in a range.
While YOU can value the stock at whatever price you think. The market clearly doesn't think much at all.
Years of being in shipping stocks leads me to believe the market doesn't understand them at all.
What is clear, is that every time we have a rally over $4, it then drops to the low $3.
I'll probably hold. But that trading range is tempting. Nothing is a certainty, but trading that range looks far more likely than your $6 target. A little history will bear that out.
I like this company, the dividend, tankers for the time being, and the Navios management.
But I'm here to make money
That's the kind of stupid thing that jrmills would come up with.
You don't understand the use of collateral.
Do their other lenders get all the revenue from the ships that they hold as collateral against those loans?