MR B - I am not sure I agree with all of your pros and cons. however, one pro that wasn't mentioned is the tanker IPO that is supposed to happen before June. Assuming it does take place, and there doesn't seem to be any reason for it not to, the net proceeds will significantly reduce DRYS total debt if not wipe it out entirely. That one event could easily translate into $60-$120 million to the net bottom line since no interest charges would be paid going forward. No matter how I look at it, I think that would bring DRYS to at least $2.75-$3.00 all on its own. Through in an improved shipping market and higher oil prices and the pps could take off. A lot of ifs in that last statement though. I have been researching the overall newbuildings order book. If the rate of cancellations continues at the same pace as 2014 (~30%) there is a very good chance that demand will exceed supply in the second half of 2015. As far as oil goes, all of the pun dents seem to feel the price will remain under $70 this next year. I am not sure how or if that will affect ORIG's contracts and newbuildings schedule.
DRYS current book value is roughly $5.8 billion. Considering the current market cap is $515 million, there is a lot of headroom for the pps to move up.
AI
