EBITDA Table

Ships have gotten a bit more expensive in recent weeks, with prices holding firm but rates slightly softer, especially in the Pacific. Although we think it is probably just another blip on the radar, softening share prices and cash flows mean that the arbitrage that exists between private sales and public company valuations has compressed a bit, as evidenced by the stock of Diana Shipping, which has been trading below $16 compared to an initial price of $17.

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