Keep in mind DRYS is still trading at roughly half ship book value. Earnings will no doubt be significantly better in 2018 and provide a basis for a pe multiple. Both value and earnings will be factors in driving the pps up from here. WBTS and sulfur regs will take more ships out of the fleet given the cost. So over the next 12-18 months spot rates should move up accordingly and substantially improve earnings and ship values. My guess is DRYS and other shippers are on a good track at this point.
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