Replies to post #711 on Stocks that Float: TANKERS & DRY BULK SHIPPERS (SHIPPERS)

[Milner]

Xanadu,

I was happy with the quarterly results. Just like Golden Ocean they have limited their exposure to spot market fluctuations with long term charters. I just watched and interview with a big time analyst on the web who was talking about Dry Bulk shippers and said that 10 percent of the new buildings would be cancelled for lack of funds or shipyards that cant deliver. He said this could be higher but dont bank on it. One point he really stressed was that Shippers with Long Term charters such as Golden Ocean would do better in the long run than Dryships which has alot of spot market exposure going into 2009 ....

Thanks Buddy,

Joe