Todays trading was an example of what I was talking about. How are they going to unload all those shares without putting big time pressure on the stock price? I notice on offerings on other stocks that they are usually completed in a day. The stock price suffers for that day as the shares pour in but then it rebounds. These stocks have enough volume to absorb the offering. It's going to take forever to put 21 mil in on this stock and at this rate.
Volume barely 50,000 daily. Is it done on the open market or some other way?
why not cancel a couple of the newbuild capes? And try selling some of those 12 -14 year old panas (they're not making anything anyways) in the second hand market to fund the cancellation cost.
I think you're agreeing with me in a way. Either the bottom was put in qtr 4 of 2012 or it will happen in qtr 2 or 3 of 2013. And I'm not saying rates will start to shoot up -merely stabilize at the historic lows.
What DRYS ships that have come off higher contract rates during 2012 1st qrt vs the somewhat higher spot rates 1st qrt rates they will receive in 2013 as compared to 2012's? The bottom is near -if it hasn't already happened in the Panas.