Top & Bottom 5 Day: DRYS @5.88 +13.07%, SBLK @3.02 +5.96%, EXM @5.85 +4.46% >>> FREE @3.92 -1.75%, BALT @11.64 -4.59%, TBSI @3.47 -11.92%.
The strategic maneuvering of Mr. Economou regarding his publicly traded entity known as Dryships, (DRYS) has once again resulted in controversy over the fairness (or not) that the CEO affords existing common shareholders. Uncle George certainly knows what he is doing with the direction of the company, and you can bet this will be to his personal benefit. Questioning whether or not this will be in the best interest of the individual shareholders is an important task best left to those private holders as they analyze the recent events. On the laggards roster TBSI smells like some old stink bait that has the bottom feeders surely preparing for a feast. Boomer James thinks the Tweendeckers are insulated from the “China Syndrome” and should they ever resolve the banking issues…..
The Baltics: BDI @2168 -0.09%, BCI @2983 -7.32%, BPI @2382 +2.23%,
BSI @1593 +7.20%, BHSI @816 +3.80%. Capesize losses hammered the broader BDI offsetting the gains made in smaller vessel classes. The Supramaxes have done well for two consecutive weeks now. Boomer James thinks that Eagle’s (EGLE) fleet of S&H Maxes are insulated from the “China Syndrome” and should they ever resolve the banking issues ….
Dry Bulk Fixtures Thursday to Thursday: Ore =23, Coal =1, Corn =1, T/C =105,
Period =13, for a total of 143 fixtures. This week the number of “ore chores” increased (23vs.17) when compared to last week, yet owners were still obliged to take what the charterers offered. Attaining “last done” would be considered over the top. The commercial distinctions populating reports for the week are as follows. Capes =27, PPmax =1, Kmax =9, Pmax =57, Smax =35, Hmax =5, Smax =3, Bulkers <30K =6.
Familiar Vessels: Navios Melodia, Torm Island, Genco Provence, Navios Primavera, Genco Constantine, Torm Trader, Nirefs, Navios Kypros.
Ski Notes: Our perpetually contributing dry bulk analyst Boomer James is not a member of the editorial group here at DB, and his comments do not necessarily jive with the remainder of our staff. The truth is Ski has suspected Boomer (similar to GE ) maintains an agenda that may prove wholly self serving, yet possibly beneficial to others. In a vote of measured confidence our group states that “Boomer knows Squat about shipping”. As seasoned shippers I am hopeful that you know at least squat about our beloved industry called shipping. “The squat effect is the hydrodynamic phenomenon by which a vessel moving quickly through shallow water creates an area of lowered pressure under its bottom that causes the ship to "squat" lower in the water than would otherwise be expected.” So now thanks to this roasting of our analyst, you all know squat about shipping and should not be grounding your bottoms.
Good Fortunes
Ski
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