What do dry-goods carriers, TBS, Diana Shipping, and DryShip (DRYS) have in common?

| About: DryShips Inc. (DRYS)
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All have filed documents with the SEC to sell shares to the public in the last 3 months, and......


all have cited China as a major factor affecting their freight demand.

TBS International, an ocean transportation services company, had this to say in its S-1's risk factor section about its reliance on China (S-1 filing dated March 7, 2005):

Our business depends to a significant degree on the stability and continued growth of the Chinese economy.

....the strength of the shipping industry in the past several years is attributable, to a significant degree, to the rapid growth of the Chinese economy. Economic growth in China has caused unprecedented demand for raw materials from Latin America, including iron ore, bauxite, soybeans, timber, zinc and manganese from Brazil, tin from Bolivia and copper from Chile. These raw materials generally are transported by ocean freight. The growth of the Chinese economy has stimulated growth in other Asian economies as well. The increased demands for trans-Pacific ocean freight have resulted in increased ocean freight shipping rates, charter rates and vessel values across the globe. Any pronounced slowdown or decline in the Chinese economy could be expected to have significant adverse effects on the economies of Latin American and Asian countries, on the demand for our services and on the value of our vessels. We expect that a significant decline in the Chinese economy would have a material adverse effect on our results of operations.

Diana Shipping, owner and operator of dry bulk carriers that transport iron ore, coal, grain and other dry cargoes along worldwide shipping routes, had
this to say in its F-1's risk factor section about its reliance on China (F-1 filing dated March 1, 2005):

....we anticipate that the future demand for our dry bulk carriers will be dependent upon continued economic growth in the world's economies, including China.....

DryShips (ticker: DRYS), owner and operator of dry bulk carriers, had
this to say in its F-1's risk factor section about its reliance on China (F-1 filing dated January 13, 2005):

....a significant number of the port calls made by our vessels involve the loading or discharging of raw materials and semi-finished products in ports in the Asia Pacific region. As a result, a negative change in economic conditions in any Asia Pacific country, but particularly in China or Japan, may have an adverse effect on our business, financial position and results of operations, as well as our future prospects.

DryShips stock market performance:

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