DSX September 2011 Update

DSX September 2011 Update - DSX September 2011 Update DSX...

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DSX September 2011 Update DSX is a Greek-based owner of dry-bulk shipping vessels—the ships the carry coal, iron, grain and lumber across the oceans. Previous Thesis and Results: The previous thesis revolved around three main points, each of which will be addressed: DSX’s conservative balance sheet and cash management would allow it to purchase distressed assets at bargain prices. Although DSX has purchased one new Panamax vessel, there has not yet been a large influx of distressed vessels as banks have oped to ignore covenant violations so far. This scenario will almost certainly eventually play out (management has repeatedly stressed that they are holding cash and building up loan capacity for just this purpose) eventually, but so far the pickings have been slim. DSX would be unaffected by short-term rates, and a recovering world economy, resumption of Australia mining (post-flooding), rising fuel rates (which means ships
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DSX September 2011 Update - DSX September 2011 Update DSX...

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