Can only go up from here...What separates DRYS from everyone else is the deep sea drilling. A nice cushion when dry bulk rates are low.
The deep sea drilling alone will float this company, and that they can manage long term charters to avoid the spot rates. Once you add in better bulk rates in a year from now (once China gets back in full swing - and they will) Drys will be a powerhouse again. Maybe we'll see a $50 share price in 3 years time...who knows?
I think the bulk rate will stay relatively flat for the first half of '11 and will go up from there.