Though the Baltic Dry Index lost about 92% of its value between its peak in May 2008 and January 2009, at its lowest point. The index has since more than doubled up from its lows, while shipping stocks have sank along with the market. Though shipping stocks generally trade at a lower price to earnings ratio than most other industries, I feel that this loss is way overdone. Though estimates continue to sink, I still expect DRYS to earn more per share this year than the actual going rate of the stock as of today.