With the broader equity market seeing moderate declines, Dry Ships (DRYS) saw very significant declines, settling -8.1% @ $1.07. It has been a dire year for DRYS, having fallen almost 80%, from the $5.00 threshold - last seen in Dec'2013.
*a brief update on the BDI... monthly
BDI has been broadly flat lining for the past few years. Until it can sustainably clear the 2000 level, the shipping stocks are going to face real problems.
DRYS remains in trouble
Without question, DRYS is having serious problems, and it would seem 'Mr Market' is highly suggestive that DRYS won't be around when the next major global econ-downturn hits.
I'll be sad to see DRYS disappear... having closely followed it since spring 2009. Hopefully, shipping rates can rally across 2015, and DRYS will survive these difficult trading conditions.
As ever... the BDI will be key to watch.