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Digging into Shipping

That's true, their is a significant "burn-rate" for these things. They're extremely expensive. It still looks like massive panic to me though based on the total collapse of the spot prices in such a short period of time (down about 80% in 2 months, and close to 95% from the bubbilicous highs). There really isn't anything to explain this on fundamentals. It just seems incredible to me that supply/demand for shipping dry freight could change that much in such a short period of time, especially for a company the size of dryships.
Nov 07 14:21 pm |Rating: 0 0 |Link to Comment |View article
Digging into Shipping

The stock prices for these type of companies are just ridiculous, DRYS is trading at 70% of last year's earnings. They just reported too, and only missed by 2%. They made about 3.50 a share. The stock is about 15 a share. Yes yes I know, the BDI is low rates are terrible. There is no way it can continue, what, are people not going to eat and import goods?

It's just a big game for the players in the market, let's see how low we can drive shares, cover our shorts, and then hopefully time the bottom correclty. It seems the entire market has completely stopped trading on fundamentals. It's all a mass panic.
Nov 07 11:37 am |Rating: +1 0 |Link to Comment |View article

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Digging into Shipping

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