DryShips Inc (fka DRYS)

[Net-Man]

Shippers are beginning to report and the numbers that are coming out are significantly better YoY and QoQ. DRYS is in a very good plac at the moment with $130 million in debt against roughly $760 million in assets. So the balance sheet is in the best position possibly since the company started. Spot rates, which is where most of DRYS ships operate have moved up markedly this past year and were high enough for the company to report net profits for the first time in several years. Probably won't be a big number, however it will identify the point in time where their profit profile switches from losses to profits. Q4 and going forward will continue to move up and the pps will follow along.