Replies to post #2530 on DryShips Inc (fka DRYS)

[eastunder]

Pirates. Arrrrrrr!

They warned us in the prospectus. :)

It's really becoming a trend. I just read about raytheon coming up with something that might help.

We were mentioned in the article:

Blackbeard lives!
Ransom due to piracy off the Horn of Africa, targeting commercial shippers including Maersk and DryShips (Nasdaq: DRYS), cost some $150 million industrywide in 2008. So far in 2009, the trend of pirate attacks has been heating up. More importantly, the insurance rates for boats traveling through the Gulf of Aden have risen tenfold in the past year, putting additional pressures on shipping margins.

http://www.fool.com/investing/general/2009/04/14/raytheon-vs-the-pirates.aspx