PBK - Safe travels and hope you have a great BD!
Somethings to consider:
2 of the Offshore Supply vessels that had contracts cancelled by PBR were picked up by ORIG with 60 day contracts. Those appear to have expired at this time and unclear if they were extended. By the way, they were also renamed - Vega Crusader is now Crescendo and Vega Juniz was changed to Jubilee.
More of DRYS ships may have been laid up. In addition to the 3 that were "announced" in the recent prospectus (Sonoma, Maganari, and Redondo) it appears that at least Marbella may have joined them. So 20% of DRYS dry bulk fleet is laid up.
On paper DRYS loans appear to be greater than the ship values. Their value is driven in large part due to the overall industry tonnage (supply) versus the current demand for shipping. Currently ship valuations have been driven down by the imbalance between the two. BDI is down a third from where it was at this time last year. This could change too, but not likely until more scrapping activity takes place. This is typically impeded due to the monsoon season impacting scrapping operations in the countries that largely deal with this aspect of shipping.
Very unclear where GE is steering the ship at this point, but there are a lot of shoals where the DRYS ship is at today.
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