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Dryshippers: A Buy or a Sell?

This article hits the nail on the head. The problem with Bulk Shipping stocks is that there are too many speculators and people who have not done their homework buying and selling these stocks as well as short sellers playing games with DRYS and GNK. They look at the Baltic Index as if it were a messiah, not understanding that the big shiping stocks do not play the spot market any longer because of the volatility. They are signing long term charters and locking in nice rates for several years. They are even chartering ships before they are finished building them. I heard on an earnigs call that it costs a Dry Bulk ship owner about $ 7000.00 a day to run a ship. Thats it - they do not even pay for fuel - the charterer does that, and they lease them out at the prices mentioned in the article, so even at $ 80,000.00 a day - the low end of the scale, look at the profit they are making. Another stat mentioned in an quarterly report from one of the companies was that over the next 20 years China will be building 102 brand new cities that do not even exist today and each will have a population of 1 million people. Think about that - and all of that concrete, steel and other comodoties will have to be brought in by ship. What does that say about the long term of this market.
I own 300 shares of GNK, 1000 shares of Eagle and 1000 shares of Diana. I am down in 2 of the 3 ( Eagle and Genco ), but I have no plans on selling. They are planning to raise dividends so why would I. Hang in there and lets hope that the speculators and uneducated get scarred away by this downturn and leave it to those of us who actually understand this market and can see its potential. Buy more people - this is a sale.