Company Information

  

Address: 299 PARK AVENUE, 12TH FLOOR  
City: NEW YORK 
State: NY 
Zip Code: 10171 
Telephone: 646-443-8550 

Description of Business

Primary SIC Code: 4412
(As filed with the SEC)  

We are a New York City-based company incorporated in the Marshall Islands in 2004. We transport iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels. Our fleet currently consists of 60 drybulk carriers, including 13 Capesize, six Panamax, four Ultramax, 21 Supramax, one Handymax and 15 Handysize drybulk carriers, with an aggregate carrying capacity of approximately 4,688,000 deadweight tons ("dwt"). The average age of our current fleet is approximately 9.9 years. All of the vessels in our fleet were built in shipyards with reputations for constructing high-quality vessels. Of the vessels in our fleet, 22 are currently on spot market voyage charters, four are currently on spot market-related time charters, and 30 are on fixed-rate time charter contracts. See pages 6 - 11 for a table of all vessels that are currently in our fleet.  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
03/2018-2.85NAN/E
12/2017-1.71NAN/E
09/2017-5.10NAN/E
06/2017-7.97NAN/E
03/2017-22.87NAN/E
12/2016-29.95NAN/E
09/20151.00NA39.10

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2017 Leverage 2017
Net Inc/Comm Equity-0.04Total Liab/Total Assets0.36
Net Inc/Total Assets-0.04Total Liab/Inv Cap0.38
Net Inc/Inv Cap-0.04Total Liab/Comm Equity0.34
Pretax Inc/Net Sales-0.28Interest Coverage Ratio-0.93
Net Inc/Net Sales-0.28Curr Debt/Equity0.03
Cash Flow/Net Sales0.13LTD/Equity0.51
SG&A/NetSales0.14Total Debt/Equity0.53
Asset Utilization   Liquidity  
Net Receivables Turnover18.06Quick Ratio4.14
Inventory TurnoverNACurrent Ratio4.14
Inventory Day SalesNANet Rec/Curr Assets0.06
Net Sales/Work Cap1.27Inv/Curr AssetsNA
Net Sales/PP&E0.17  

Income Statement (Millions)

  3/31/2018 12/31/2017 9/30/2017 6/30/2017
Total Revenues(Net Sales) 76.92 74.92 51.16 45.37
Cost of Goods Sold 44.86 39.80 30.68 24.80
Selling & Admin Exps 7.17 7.56 7.77 7.62
Operating Income -48.40 9.98 -23.78 -7.24
Interest Exp 8.12 7.94 7.86 7.56
Pretax Income -55.81 2.57 -31.18 -14.51
Other Income 0.71 0.53 0.46 1.63
Net Income Bef Extraordinary ... NA NA NA NA
Net Income -55.81 2.57 -31.18 -14.51

Balance Sheet (Millions)

Assets 3/31/2018 12/31/2017 9/30/2017 6/30/2017
Cash & Short Term Investments 178.22 181.71 161.10 155.49
Receivables - Total 13.29 12.86 10.87 6.43
Inventories - Total 19.89 NA NA NA
Total Current Assets 221.28 217.24 194.58 184.35
Net Property, Plant & Equipment 1,196.07 1,266.59 1,282.93 1,316.29
Total Assets 1,452.57 1,520.96 1,516.48 1,541.72
Liabilities        
Accounts Payable 24.34 23.23 22.53 20.36
Debt in Current Liabilities 24.31 24.50 12.08 9.58
Total Current Liabilities 53.75 52.45 37.24 31.58
Long-Term Debt 479.77 493.48 507.30 508.27
Total Liabilities 533.52 545.93 544.54 539.85
Stockholder's Equity        
Minority Interest NA NA NA NA
Preferred Stock NA 0.00 0.00 0.00
Common Stock 0.35 0.35 0.34 0.34
Retained Earnings -710.15 -653.67 -656.24 -625.06
Treasury Stock NA NA NA NA
Total Stockholders' Equity 919.05 975.03 971.94 1,001.87
Total Liabilities and Stockholders' Equity 1,452.57 1,520.96 1,516.48 1,541.72

Cash Flow Summary (Millions)

Categories 3/31/2018 12/31/2017 9/30/2017 6/30/2017
Net Cash Provided by Operating Activities 9.46 22.08 5.02 5.98
Net Cash Provided by Investing Activities 1.45 -3.18 1.12 3.90
Net Cash Provided by Financing Activities -14.66 -2.13 -0.78 -0.95

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/2013227.46-147.74--
12/2014220.86-1,133.44--
12/2015153.96-194.90--
12/2016135.59-217.76-29.95
12/2017209.70-58.72-1.71
Growth Rates-2.01----

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional03/31/187130,64488.74




Report Date : 6/18/2018

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