The company should be able to survive the next two years at these low rates but ultimately shipping rates need to get back to at least 10K per day per ship for the company to return to health. Right now rates are around 6K.
What I can't understand is that other Greek container shipping companies of similar size with similar fleets and financials are still trading at much higher valuations and their preferred share are trading close to par. These companies are facing the same head winds but for some reason the market values them much higher. Examples are the common and preferred shares of Diana Containership. (DCIX and DSX-B). Market Value around 34 Million and preferred trading at $15.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM