Having said that, the adjusted EBITDA of $144 million does not reflect the full earnings potential of our offshore fleet as the mobilization activity and downtime affected accounting earnings. For the remainder of this presentation, we will be primarily focusing on our shipping segments operations. For additional information on drilling segment please refer to Ocean Rig second quarter presentation available on www.ocean-rig.com.Slide five; the chart on this slide highlights historical Panamax ship values versus spot earnings. Going forward, we do not expect to see volatility in the short-term as we continue to expect a prolonged (inaudible) period of very low earnings for both drybulk and tanker segments. Panamax spot rates are approximately $7,000 per day today while 2013 and 2014 SFA is approximately $8,500 and $10,500 per day.
DryShips' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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