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Home  /  Forum  /  Amerikaanse aandelen  /  DRYSHIPS (NASDAQ:DRYS)

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DRYSHIPS (NASDAQ:DRYS)

10 Posts
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  1. IMILLIONAIR 7 januari 2013 16:13

    Big Change: 25 Best Stocks to Watch on Wall Street DRYSHIPS JAN.7.13

    DryShips Inc. (NASDAQ: DRYS) shares soared 25 percent on nearly 30 million shares traded Friday. Shipping stocks were boosted by a swing in the Baltic Dry Index, which posted a gained for the first time since November 28, 2012

    DryShips Inc. is an owner of drybulk carriers and tankers that operate worldwide.

    Through its majority owned subsidiary, Ocean Rig UDW Inc., DryShips owns and operates 9 offshore ultra deepwater drilling units, comprising of 2 ultra deepwater semisubmersible drilling rigs and 7 ultra deepwater drillships, 3 of which remain to be delivered to Ocean Rig during 2013.

    DryShips owns a fleet of 46 drybulk carriers (including newbuildings), comprising 11 Capesize, 28 Panamax, 2 Supramax and 5 newbuilding Very Large Ore Carriers (VLOC) with a combined deadweight tonnage of approximately 5.1 million tons, and 12 tankers (including newbuildings), comprising 6 Suezmax and 6 Aframax, with a combined deadweight tonnage of over 1.6 million tons.

    The company's executive offices are located in Amaroussion, Greece. DryShips has been listed in New York on the Nasdaq Exchange since February 2005 and trade under the symbol "DRYS"

    Our vessels are able to trade worldwide in a multitude of trade routes carrying a wide range of cargoes for a number of industries.

    Our capesize and Panamax drybulk carriers carry predominantly coal and iron ore for energy and steel production as well as grain for feedstocks.

    Our handymax and Handysize drybulk carriers carry iron and steel products, fertilizers, minerals, forest products, ores, bauxite, alumina, cement and other construction materials. These raw materials and products are used as production inputs in a number of industries. We transport these various cargoes on several geographical routes.

    Our fleet carrying capacity totals over 3.4 million deadweight tons.

    We are focused on maximising shareholder value by maximising returns on our investments while at the same time ensuring our vessels adhere to the highest safety and environmental standards.
  2. IMILLIONAIR 7 januari 2013 16:18
    Dry Bulkers Rise on Expectations for Robust Gains in FY13 (DRYS) (EGLE) (EXM)
    10:49 AM ET, 01/04/2013 - Street Insider

    Dry bulk shippers are trading strong today on a strong outlook for shipping rates in 2013.

    The Bloomberg Industries (BI) GL Dry Bulk Shipping Valuation Peers Public Index is up over 7 percent on the session to 110.38. GL DBSVPPI is an equal-weight index. BI said that expectations call for a 17 percent gain in the index through 2013.

    Despite today's move, it should be noted that the index has been well above 200 points in 2010 and only averaged below 100 points since April-May of 2012.

    Leading the index are Eagle Bulk Shipping (Nasdaq: EGLE), Excel Maritime (NYSE: EXM), Korea Line Corp, DryShips (NYSE: DRYS), and Golden Ocean Group, up 23.9 percent, 21.1 percent, 11.9 percent, 10.4 percent, and 9.5 percent ,respectively.

  3. IMILLIONAIR 8 januari 2013 14:55
    anuary 08, 2013 08:20 ET

    DryShips and Eagle Bulk Shipping Shares Soar as Baltic Dry Index Rises for the First Time Since NovemberFive Star Equities Provides Stock Research on DryShips and Eagle Bulk Shipping
    NEW YORK, NY--(Marketwire - Jan 8, 2013) - After struggling with a supply glut throughout much of 2012 shipping stocks have started the New Year on an impressive run as the Baltic Dry Index has begun to show signs of improvement. The Guggenheim Shipping ETF (SEA) has surged over 7 percent in the past week. Five Star Equities examines the outlook for companies in the Shipping Industry and provides equity research on DryShips Inc. (NASDAQ: DRYS) and Eagle Bulk Shipping Inc. (NASDAQ: EGLE).
  4. RT 76 10 september 2014 09:17
    Why DryShips Looks Ripe For A Turnaround
    Sep. 9, 2014 11:02 PM ET | About: DryShips Inc. (DRYS)
    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)
    Summary

    DryShips looks like a turnaround candidate after its second-quarter results, supported by its decent fundamentals.
    DryShips is seeing an increase in charter rates and this will aid its recovery.
    DryShips will also benefit from increasing demand for seaborne transportation as a result of improving economic conditions.
    DryShips (NASDAQ:DRYS) has given its investors a bad time this year, with the stock down almost 28%. However, a turnaround cannot be ruled out going forward as DryShips is rapidly improving its financial performance, and the conditions in the industry indicate that things can get better for the shipping company.

    This article was sent to 11,010 people who get email alerts on DRYS.
    Get email alerts on DRYS »
    A turnaround supported by decent fundamentals

    The signs of a turnaround can be clearly seen in how the company performed last quarter, when it surprised analysts by posting an adjusted profit of $0.01 per share while analysts were expecting a big loss of $0.06. The company displayed an impressive improvement in its adjusted EBITDA, which came in at $220.5 million for the quarter as opposed to $112.3 million last year.

    In addition, the company's fundamentals also appear to be in good shape. DryShips looks cheap at a forward P/E of only 9.29. In addition, its price to sales ratio is just 0.76. Moreover, DryShips' cash flow also looks strong, with the company having generated $439 million in operating cash flow over the previous year. The expected improvements in DryShips' performance is also seen in analysts' sentiments. In the next five years, it is projected that the shipper will improve its bottom line at a CAGR of 10%. In comparison, its earnings have declined at a rate of more than 50% in the last five-year period.

    Improving conditions will aid the turnaround

    DryShips has executed well on several fronts, and industry conditions indicate that its robust execution will allow it to deliver improved results. For instance, its financial results are improving due to high utilization rates in the drilling rig segment. Moreover, a rise in average daily time charter equivalent levels on the tanker vessels from $10,000 per day to $16,000 per day has helped it improve its EBITDA level.

    Looking ahead, DryShips expects to see a sustained increase in the rates for Aframax and Suezmax tankers. In addition, the average daily TCE levels for the drybulk segment are expected to remain steady in comparison to the previous quarters, primarily due to the time charter coverage for the bulk of its Capesize fleet and the spot rates for the Panamax fleet.

    Moreover, DryShips' subsidiary, Ocean Rig, is also performing well. Ocean Rig recently entered into a six year definitive agreement for drilling operations offshore Angola. Also, Ocean Rig has signed another drilling contract for one of its semi-submersibles, the Eirik Raude, for drilling offshore the Falkland Islands.

    DryShips has considerable leverage to the drybulk and tanker spot markets, and healthy developments in these sectors will help the company generate robust cash flow. Going forward, the shipping major is keen on implementing its strategy to operate both its dry and wet vessels on the spot market to benefit from sustainable recovery in these markets. Also, an increase in average charter rates at a rate of $20,000 per day is expected to add $133 million and $316 million of additional EBITDA to its shipping segment in 2014 and 2015, respectively.

    Some more points to consider

    Moving ahead, DryShips management is of the opinion that the supply and demand have tightened, and the trade growth is continuing to expand with the slowdown in new building deliveries. The pick-up in demand for iron ore, a rise in demand for steel production, and the continued low cost iron ore supply in the market, will result in the expansion of seaborne transportation demand.

    The improvements in the business are attributed specifically to the improving supply-demand imbalance in the market. Moreover, with the rising global oil demand forecast, driven by better momentum in the global economy, DryShips sees an improvement in ton mile dynamics. For example, the forecast for shipping demand from China remains strong, and this will continue benefiting DryShips. According to a report:

    "In June, 2014 Chinese fixed asset investments continued to grow 17% year-over-year (or YoY) mainly led by railway, infrastructure, housing, and constructions. China's purchasing manager's index (or PMI) data reflected similar trends. Crude steel production and Chinese iron ore imports also reflect trends supporting the shipping industry.

    Domestic iron ore production in China indicates an effective iron content in the range of 15%-compared to the 63% of imported ore. Despite an 8% increase domestic iron ore production in June, the quality seems to be deteriorating. Based on this data, the substitution of low quality domestic iron ore with imported ore would be positive for the shipping industry."

    Conclusion

    Thus, on the back of improving conditions in the industry, DryShips' performance looks set to improve in the future. Hence, it might be a good idea to take a closer look at the stock from an investment point of view as it can deliver impressive growth in the long run, and its weak performance this year presents an enticing point of entry.
  6. RT 76 10 oktober 2014 08:40
    DryShips: Going All-In At DryShips' New 52-Week Low?
    Oct. 9, 2014 3:26 PM ET | 4 comments | About: DryShips Inc. (DRYS), Includes: ORIG, SDRL
    Disclosure: The author is long SDRL. (More...)
    Summary

    DryShips has been demolished by the market due to a weak industry outlook.
    The IMF also reduced its global economic growth forecast, which put additional pressure on shares of the shipping company.
    DryShips is likely to remain highly volatile in the short-term.
    DryShips might be an interesting investment for contrarian investors who believe the market overreacts to macroeconomic data points.
    As you can easily imagine, highly business-cycle sensitive businesses like DryShips (NASDAQ:DRYS) didn't fare too well as the economic environment suddenly changed. DryShips has been doing poorly for some time due to a variety of issues: Overcapacity issues in the industry, depressed shipping rates as indicated by the Baltic Dry Index, and bad sentiment among investors didn't exactly make DryShips a screaming buy. Offshore drillers also didn't fare much better: Seadrill Ltd. (NYSE:SDRL), for instance, also lost big chunks of its market capitalization recently as Goldman Sachs downgraded the company on the basis of deteriorating industry fundamentals. I have endorsed Seadrill in my recent article "Why Seadrill Is Not A Falling Knife", because investors are just not rational at the moment: Any company related to shipping transport and/or drilling got heavily punished in September. Seadrill lost an unbelievable 25% of value in the last four weeks alone, whereas DryShips lost even more: 30%.

    This article was sent to 11,103 people who get email alerts on DRYS.
    Get email alerts on DRYS »
    As we all have learned last week, the health of global economic growth is suddenly an issue again. The Bureau of Economic Analysis released its third revision of second quarter U.S. GDP growth at the end of September. The result: The U.S. economy grew a solid 4.6% on an annualized basis. So, all good right? Wrong. Now that the U.S. economy is roaring back, doubts about the solidity of growth in China and Germany have taken over.

    The International Monetary Fund, for instance, just adjusted its growth forecast for Europe's largest economy, Germany, downward to 1.5% for both 2014 and 2015; not exactly growth rates that reflect strong economic growth and bring out excitement. China is also everything else but doing fine: According to a September report from Bloomberg, China's factory output growth hit a six-year low in August. With such fairly depressing economic news, it comes as no surprise that the IMF also cut its global growth forecast from 3.8% to 3.3% this year, and from 4.0% to 3.8% in 2015.

    China, of course, is much more important than Germany for the shipping industry, especially with regard to dry bulk shipping contracts that often refer to coal or iron ore. With weaker Chinese economic activity, dry bulk shippers like DryShips are the first to get squeezed. China's iron ore imports have been weak lately, and this weakness has also had an adverse price impact on iron ore.

    Nonetheless, I am still bullish on DryShips in the long-run. I have previously aggressively endorsed DryShips because of a blatant valuation inefficiency, that especially holds true today as DryShips' share price tumbles. At the time, I wrote in my article "DryShips: It's Investors' Own Fault If They Don't See The Value In DryShips":

    DryShips' nearly 60% stake in Ocean Rig alone is worth around $1.35 billion which is larger than DryShips' entire market capitalization of $1.24 billion. Meaning: Investors can still buy DryShips and literally get the dry bulk shipping and tanker business for free. A massive margin of safety while investors retain all the upside from a turnaround in the dry bulk segment.

    DryShips was quoting at $2.85 when my last piece was published. If anything, DryShips has only become more attractive due to the recent selloff and its Ocean Rig (NASDAQ:ORIG) stake provides some downside protection. In fact, the shipping business now sells at only 6.5x forward earnings, and currently quotes at $1.88 at the time of writing. The stock also just marked a new 52-week low at this price.

    High volatility and high risk
    Buying DryShips, however, is not for the faint-hearted. The shipping sector faces a lot of uncertainty at the moment; you only have to look at the volatility and force of market movements to see that investors are getting scared again: Today alone, DryShips' shares have lost 13% of their value. Investors are clearly panicking.

    As you can see in the chart below, investors have absolutely been losing it over DryShips: Shares of the shipping company are down a whopping 50% year-to-date, but now appear to have declined way too much.

    (click to enlarge)

    Source: StockCharts.com

    Bottom line
    Investors have been throwing shares of DryShips on the market without regard for its long-term value. If investors read about slowing economic growth or declining factory output rates, they quickly lose it and sell without regard for what the shares are truly worth. This is a pattern we repeatedly see when uncertainty creeps back into the market.

    DryShips is a risky, cyclical investment, which will very likely see high volatility in the short-term, especially if new macroeconomic data with respect to Chinese iron imports is released. In any case, DryShips might be an interesting investment for contrarians, who believe the market has pushed shares way too low. DryShips' stake in Ocean Rig should also limit downside risk. Contrarian, long-term Buy.
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