I saw your post about the UDW subject..that board has turned into a sh!t pile to be honest..it used to be a pretty good place now it is garbage over there.
Yup Wallstreet . . . funny how China is going to invest $10 billion in offshore drilling exploration off the coast of Brazil (a great thing for all UDW companies) and no one cares and or blinks an eye. That should have stirred up some good discussion but everyone is too busy yelling at each other. Is what it is I guess.
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Quote Originally Posted by wallstreetcappers:
VH2,
I saw your post about the UDW subject..that board has turned into a sh!t pile to be honest..it used to be a pretty good place now it is garbage over there.
Yup Wallstreet . . . funny how China is going to invest $10 billion in offshore drilling exploration off the coast of Brazil (a great thing for all UDW companies) and no one cares and or blinks an eye. That should have stirred up some good discussion but everyone is too busy yelling at each other. Is what it is I guess.
I am dissapointed with the dilution, I kinda wish he had sold more shares higher and not diluted to get the other two rigs, but in the longer run the value of having the two extra rigs and six in total is pretty large.
Then the extra dilution for the cape acquisition diluted primelead even more. I assumed less than 50M shares, now it looks like almost 100, which cuts that target in half.
Even with 100M shares though, the potential for the company is very good. I wish they had more equity because there is a high liklihood they will have to dilute again at some point to raise cash. There will be cash flow issues until 2010, since they will be paying on the debt for the 4 non-working rigs during that time. I would have to see the op cash flow for the two with the new contract and see if that is enough to carry the debt load..the more debt they pay down into 2010 the higher the cash flow and earnings.
Funny how the stock is still trading at 20% of the entity value of just the OR assets..I estimate the value of the OR assets at 2B including the 6 rigs, at 2010 of course with all in operation.
Then add the what 50 ships the dry side has??
Man this stock is undervalued by 50 bucks or more..
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I am dissapointed with the dilution, I kinda wish he had sold more shares higher and not diluted to get the other two rigs, but in the longer run the value of having the two extra rigs and six in total is pretty large.
Then the extra dilution for the cape acquisition diluted primelead even more. I assumed less than 50M shares, now it looks like almost 100, which cuts that target in half.
Even with 100M shares though, the potential for the company is very good. I wish they had more equity because there is a high liklihood they will have to dilute again at some point to raise cash. There will be cash flow issues until 2010, since they will be paying on the debt for the 4 non-working rigs during that time. I would have to see the op cash flow for the two with the new contract and see if that is enough to carry the debt load..the more debt they pay down into 2010 the higher the cash flow and earnings.
Funny how the stock is still trading at 20% of the entity value of just the OR assets..I estimate the value of the OR assets at 2B including the 6 rigs, at 2010 of course with all in operation.
Then add the what 50 ships the dry side has??
Man this stock is undervalued by 50 bucks or more..
Interesting news today on DRYS, they cancelled the 4 pana purchase, lost deposits but hold the rights at a strongly reduced price until the end of 2009.
I like it honestly..if things improve we can go in and buy at a 40% discount including lost deposits, and if not we shed 250M in cash/debt.
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VH2,
Interesting news today on DRYS, they cancelled the 4 pana purchase, lost deposits but hold the rights at a strongly reduced price until the end of 2009.
I like it honestly..if things improve we can go in and buy at a 40% discount including lost deposits, and if not we shed 250M in cash/debt.
Saw the news . . . this is good. At this time we do not need the extra vessels (and debt) on our books.
Another up day for all bulkers. Some people are making some good money here . . . me i'm still down. But getting closer to break even. At least i was able to dollar cost average in the single digits to help a bit. I'm sure this can mean only one thing. Back down we go
who knows with this market.
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Saw the news . . . this is good. At this time we do not need the extra vessels (and debt) on our books.
Another up day for all bulkers. Some people are making some good money here . . . me i'm still down. But getting closer to break even. At least i was able to dollar cost average in the single digits to help a bit. I'm sure this can mean only one thing. Back down we go
wow I have no clue what DRYS is going to do tomorrow. I was feeling great about it getting to around 16 by Friday, but I don't know whether to sell some shares incase it drops some tomorrow or not.
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wow I have no clue what DRYS is going to do tomorrow. I was feeling great about it getting to around 16 by Friday, but I don't know whether to sell some shares incase it drops some tomorrow or not.
I think Drys pulls back tommorow. Sold all my January 5 calls. Bought em when the stock was sitting at 4 bucks. This has gone up so far so fast that a bad day is due so I sold and looking to get back in on a nice dip tommorow.
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I think Drys pulls back tommorow. Sold all my January 5 calls. Bought em when the stock was sitting at 4 bucks. This has gone up so far so fast that a bad day is due so I sold and looking to get back in on a nice dip tommorow.
Had to expect some pullback one of these days . . . now the fundamental question is will it hang out here in the 7's and 8's for a few days before continuing up or retreat back to the low single digits.
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Had to expect some pullback one of these days . . . now the fundamental question is will it hang out here in the 7's and 8's for a few days before continuing up or retreat back to the low single digits.
What do DRYS owners make of the deal to cancel the ships to a related party (I am happy they canceled) . . . and still pay the $55 million deposit fee (Not sure how i feel about this).
Question . . . . is this just business? Seems like an awfully good deal for GE the CEO of DRYS. he essentially is giving himself $55 million since he owns that company and he gets to keep the ships!
Or does this need to happen since it is in the contract. Seems a bit shady to me. But perhaps there is a good explanation.
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Question:
What do DRYS owners make of the deal to cancel the ships to a related party (I am happy they canceled) . . . and still pay the $55 million deposit fee (Not sure how i feel about this).
Question . . . . is this just business? Seems like an awfully good deal for GE the CEO of DRYS. he essentially is giving himself $55 million since he owns that company and he gets to keep the ships!
Or does this need to happen since it is in the contract. Seems a bit shady to me. But perhaps there is a good explanation.
Those guys over there were bashing George again for some option payment on that deal..the right to purchase the panas had an option price, so the kiddies are mad about it.
Regarding the deposit lost, thats part of business..GNK had the same thing a few weeks ago. If you enter a contract and break it, the deposit is lost..like a car or a house etc.
Pretty common.
The ship sale that DRYS lost last week they kept the deposit on sale just the same.
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VH2,
Those guys over there were bashing George again for some option payment on that deal..the right to purchase the panas had an option price, so the kiddies are mad about it.
Regarding the deposit lost, thats part of business..GNK had the same thing a few weeks ago. If you enter a contract and break it, the deposit is lost..like a car or a house etc.
Pretty common.
The ship sale that DRYS lost last week they kept the deposit on sale just the same.
Another hideous day for Wall Street coming up as the auto bailout package gets axed by the senate.
But let's face it, the taxpayer already got reamed for 700 billion so Paulson could bail out his cronies and have a 150 million dollar a year job at Citibank when his treasurer stint is over, so why not give the "Big 3" another 34 billion on top of it?
Futures are getting absolutely obliterated today......all gains from the last few weeks just got vaporized.
Not doing anything myself as far as trading, but I suspect that this latest bit of grandstanding from congress is just that......grandstanding.......and some sort of something will be done in the next few weeks to bail out the autos, courtesy of "Joe The Taxpayer."
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Another hideous day for Wall Street coming up as the auto bailout package gets axed by the senate.
But let's face it, the taxpayer already got reamed for 700 billion so Paulson could bail out his cronies and have a 150 million dollar a year job at Citibank when his treasurer stint is over, so why not give the "Big 3" another 34 billion on top of it?
Futures are getting absolutely obliterated today......all gains from the last few weeks just got vaporized.
Not doing anything myself as far as trading, but I suspect that this latest bit of grandstanding from congress is just that......grandstanding.......and some sort of something will be done in the next few weeks to bail out the autos, courtesy of "Joe The Taxpayer."
Getting long Lear (LEA) today is an easy way to bet and gain from all this grandstanding.
Same with getting long alt energy (QTWW, HYGS) as when the autos are saved, there'll be some sort of verbosity attached to it regarding getting rid of the combustion engine----which should've been done about 35 years ago.
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Getting long Lear (LEA) today is an easy way to bet and gain from all this grandstanding.
Same with getting long alt energy (QTWW, HYGS) as when the autos are saved, there'll be some sort of verbosity attached to it regarding getting rid of the combustion engine----which should've been done about 35 years ago.
Personally, I think this was a wise decision on their part, so I wouldn't allow this to change my decision if you liked the Company, but I also wouldn't be expecting that 30% yield just because it says so on yahoo finance.
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Quote Originally Posted by sergio1994:
have no problem holding on to DSX with that FAT dividend.
Personally, I think this was a wise decision on their part, so I wouldn't allow this to change my decision if you liked the Company, but I also wouldn't be expecting that 30% yield just because it says so on yahoo finance.
. This has gone up so far so fast that a bad day is due so I sold and looking to get back in on a nice dip tommorow. 
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