First of all almost all the Chinese ship builder are in bankruptcy. Thats why they can't fill orders or obtain financing.
They are shutting down and the China ship building industry is collapsing.
So to finance anyone to build ships " Vale or anyone else " is a way to get some money into a failing industry without an outright bailout.
If Vale is stupid enough to try to enter one of the roughest business around...SHIPPING....not only will they be selling ore too cheep but will loose their shirt in shipping too.
Anyone can say anything.
I can say I will get a 10 billion dollar credit line......built 250 supersize capes and run the shipping world.
Lets see me do it.
Vale will do well to stick to their knitting or China will foreclose on both their shipping and mining operations. Not only have temporary saved their ship builders but get Vale in a forced liquidation when they fail to pay the loan on 5 billion.
Now why would someone lock in almost 4 times spot
Are much higher rates just around the corner????????????????????????????
What this means is DRYS survives till rate rise
Like in Batman
Not to mention all the new battle ships which will be built now....12 alone by Japan.....Europe....I am sure Russia and China will be building like madd as well.
I know these guys here buy a few thousand shares and wine for months and years about GE
GE takes a little here and there......who doesn't
Take our Gov....17 trillion in debt.....now there are some crooks
If rate recover in the next year or so.....DRYS will se double digits per share....
I am hoping for sooner rather than later.....because I have an impatient nature
But I'll always take later over never!!!!!!!!!!
The stock market is not a bingo game being run by Sister Theresa
They all think GE is soooooo bad
When Goldman arrainged the financing for Mel Karmazin's SIRI to merge with XM....the got them a short term bridge loan of 550 million......which Mel was going to sell a few shares of the new stock which he expected to rise exponentially now that he had a legal monopoly.
Goldman then shot the stock down with first a 50 cents rating and then a 10 cents rating driving the stock down to 6 cents.....far less then Mels 6 to 8 per expected share......3 days before BK....Charlie Malone bailed SIRI out with terms that would have brought tears of joy to Black beard the pirate.
Oh lets not forget Kenneth Lay.....the most popular CEO and loved by all......all who now eat cat food for retirement after he destroyed Enron with phoney accounting and lies.....how nice of him to drop dead at his trial....
Global Crossing which swore on the steps of a prominent NYC property that we pay our bills and would never consider BK....3 days later they BK'd a 22 billion dollar asset rich co for 750 mill to Hutchinson Whampoa a Asian corp with the help of NYS supreme court judge.
I lost 130 thousand on Global.......90 thousand on Enron.....made 100 thousand on SIRI..thank you Mr Malone.....
So GE aint so bad......at least he has kept the flag flying thru the worst times in shipping.
Well from your lips to Gods ears Audio
As I said.....I am holding......I never let these "very questionable" people on this chat board scare me out of DRYS stock.
As you said earlier DRYS shows a loss....but is cash flow positive.....they only owe 68 million this Fall in debt payments....with ORIG stock as collateral they will easily convert/roll over thier larger debt amount.
DRYS could theory wise.....loose money for years and years to come and stay solvent.....of corse I am betting on a much rosier outcome.
This stock DRYS rattles my cage
I have 142,000 shares with a cost basis of 3.40 per share
with world economies on the mend .......this BDI is so baffleing to me
I am holding my hand.....all cash...no pressure.....DRYS can continue for years just as things are and with a rising BDI of corse a higher stock price
I gotta tell ya.......i just can't understand why these rates aren't rising
we are left with a 3 dollar stock because of shipping rates....if rate go high enough and stay up...we will not have a 3 dollar stock anymore
Exactly ......you must prove insolvency to BK....unability to continue as a ongoing concern.....
DRYS can go on for years and years and years..........
" Nickey" said an 11 was not the likely choice......perhaps a dilution of some shares or selling some ORIG shares are more likely.
Just like any Bible thumping minister can make any point from the Bible he wants.....you and most authors of market events can twist the facts to image any scenario they or you want.
DRYS can place or sell over time all the ORIG shares and have enough to cover debt and losses for years and years to come.
They have new large ships being built....not panas. So as always GE is moving to the right areas.
I have heard DRYS going BK for 6 years now.....6 years......the BK story is getting very stale.
you are so smart about evertything else.....why don't you know the rates too
I have always read over the past 3 years that DRYS fleet was amoung the most up to date......
I also remember a few years ago when ORIG was just formulating......all these smart guys wrote that the drill ship business was the destruction of DRYS....they crucified GE for this move.
Just to find out that ORIG was the most brillient moves in the entire shipping industry in a long time.
Now......how can I believe a word they write??????????????
And for all you BK mongers........you can only go BK if you are insolvent.......with ORIG stock alone DRYS could repay all its outstanding debt and have a few hundred million left over....not to mention its cash on hand
where do you people come from......MARS...??????
And on a brighter note ......in the next couple of weeks if it breaks over 6.50..... 9.50 is the next legg higher
Well what you have going for you is......you can never get any dumber fella
Just in ORIG stock alone DRYS has 1.6 billion at todays prices......take ORIG debt away and DRYS has way below 1 billion in total debt 1.6 - 1 = 600 million with 500 to 600 million in cash.....jeeeee DRYS is debt free with 1.1 to 1.2 billion in free cash after a ORIG sale
now don't you fell soooooooo dumb fella