Andres Rueda
Value, long-term horizon

DryShips: Poised For An Upturn?

DryShips Inc. (NASDAQ:DRYS) is traditionally viewed as a drybulk shipper. In fact, drybulk shipping represents only one aspect of the company's activities. DryShips is a holding company engaged in three lines of business. DryShips has a large fleet of carriers for drybulk cargoes. The company also provides marine transportation for petroleum and petroleum-related cargoes. Through its majority owned subsidiary, Ocean Rig UDW Inc. (NASDAQ:ORIG), the company provides offshore drilling services.

The stock of DryShips is priced as that of a drybulk shipper. Accordingly, the stock is priced as that of a company undergoing severe financial distress. The stock reached a low of US$1.58 on December 28, 2012, but has since somewhat recovered to close at US$2.00...

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