Box Ships Inc (Preferred) (TEUCF)

[ivfk]

I don't quit agree with the calculations posted on the TEUFF board. Remember that in 2015 and 1st quarter of 2016 Box Ship still had a contract for the Maule at $38,000 per day. That contract expired in March of 2016 and now the ship at current rates may be bringing in $6,500 a day. The market value of these ships depends very much on the going rate. They also had the two older ships contracted for around 19K per day which are now sold. I think the Net Assset Valuation (Mark to Market) is not much above break-even at these rates. Once the rates recover and go back to where they used to be, then a valuation of $0.70 is low.