DSX up 7.3% today

Not getting too excited til the close, but I'd like to see a new daily closing high above 10.71.

I've done a ton of research for shippers in general and dry bulk shipping specifically. DSX is one of (if not the) best run shipping companies there is.

DSX is up ~50% on the year, so more than just a short term pop for them. Most shippers are in deep crap because of there debt load.

They ordered new ships in 2008-2009 when charter rates where 7-10 times what they are now. Shippers agree to a purchase price when they order the ship. The new ships coming out have made some companies go bankrupt.

In comes DSX. In September of 2012 they where sitting on approximately 450 million dollars in cash with very little debt. At the time that was roughly $5 of cash per a share, when the stock was $6.40. If you counted in the scrap price of the DSX fleet at the time, they literally had more worth than the value of there outstanding shares. Now DSX is buying ships for 30-40% of the cost they where selling for 2-3 years ago. They currently have the same amount of cash on hand as debt from buying the new ships.

All in all, a nice stock that I plan on holding for quite a while.