DryShips Inc (fka DRYS)

[Net-Man]

GE bought several ships from himself for $198 million. Transactions will complete before end of the year. $50 million cash set aside to buy back cheap shares. Another ~$200 million will be in the DRYS kitty by the end of the year. Will GET buy more dry bulkers or something else?

And then there is the pesky OSVR fleet rusting away at anchor. Will he be able to get that fleet re-engaged as the offshore drilling industry recovers?

All in though, GE is rebuilding DRYS fleet with ships that are in high demand during a time when that demand is also increasing. Seems that profitability will continue to improve at a time when GE also pans on retiring more shares.