Not to sidetrack your discussion guys but SSW jist bought 4 or 5 recent vintage ships of the 4500-5000 size. They bought them at scrap prices and plan on putting them to work. I lost the link - when I find it again I will post. It was in one of the trade magazines. SSW didn''t post it on their site or news release it. It is non-material I guess. Management is a little schizophrenic, but there may be some rationale in scrapping a ship and taking the tax loss on it, and then buying others on the cheap.
I have picked up a few shares on the cheap, well after my tax wash, and expect at least a 50% cut when they next announce the divdend (my smallest position in my portfolio) I would like to see them turn EPS profitable, if it is possible.
Saving 75 -100 mil. on the dividend would help. I also expect alot more writedowns on their smaller, older fleet, still.